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Cryptographic analyst Titan of Crypto He provided a stubborn perspective of Ethereum prices, ensuring that ETH was not dead. The analyst emphasized the stubborn pattern, which indicates that the second largest crypto according to market capital may soon enjoy the next leg up.
The analyst indicates another leg for Ethereum on the horizon
IN X PostTitan from Crypto said that Ethereum was not dead and suggested that the next UP leg was on the ETH horizon. He confirmed that ETH is not dead from a technical perspective. The analyst then noticed that the price of Ethereum is still progressing within widening the wedge.
Titan of Crypto also revealed that the price of Ethereum has just visited the Reload zone, the main area where professionals are looking for a long or redemption of ETH. He noticed that bright money enters here, suggesting that Ethereum could bounce off this zone. The accompanying chart of the analyst showed this Ethereum could have gathered to from 6129 to 6589 USD because it is reflected from this reloading zone.
Macro view update on ETH
In an earlier analysis of Titan of Crypto, he also provided an update of the macro view on Ethereum. He noticed that ETH closed the monthly candle beyond 7-year-old rising wedge. The analyst added that the confirmed breakthrough requires that the next month stay beyond this wedge. According to this, he presented three possible scenarios for ETH.
In the first scenario, the analyst provides reintegration in which key support levels persist, which leads to a reflection that pushes ETH back to the wedge and annul the breakthrough. In the second scenario, Titan of Crypto states that it may exist Triple Top Formation in which support is maintained, but ETH will again analyze the wedge from switching to a long -term top.
Meanwhile, he noticed that in the third scenario ETH confirms a deeper correction if the support fails. However, at this stage, Titan of Crypto believes that the first or second scenario is most likely.
The biggest obstacle for Ethereum
Cryptographic analyst Ali Martinez In post X, he stated that the largest obstacle for Ethereum is 2460 USD, where 10.95 million investors acquired 64.52 million ETH. The analyst stated that breaking this level would be distributed by the stubborn ETH rush.
Shrewd Money is already seeming to support you support Ethereum break through this critical level of resistance. Martinez revealed in another post x Crypto whales I bought 1.10 million ETH in the last 48 hours. It is known that these whales are actively accumulating before the price increases, which indicates that you can be found on the ETH horizon.
At the time of writing this text data with coinmarketcap.
A distinguished picture from Unsplash, tradingview.com chart
