- ETH may break out of its tight trading range if the coin price hits $2,200.
- The 50 EMA had crossed over the 200 EMA, suggesting a bullish breakout in the mid to long-term.
- If ETH fails to flip the $2,042 resistance, the price may drop to $1,994.
Crypto analyst Altcoin Sherpa told his 198,900 X followers that the price of Ethereum (ETH) would reach $3,000 in the next few months. Sherpa, who sounded confident of his prediction, referred to ETH’s historical price action.
In backing up his point, the analyst noted that the ETH price has not closed above $2,200 in about a year and a half. He added that this altcoin’s inability to hit the said value would be the reason leading to the projected breakout.
$ETH: This one is so obvious to me. It's going to go to $3000+ within the next few months and there's nothing you can do about it. No 1W close above this $2200 level in 1.5 years, ofc it's going to break it given the landscape. #Ethereum pic.twitter.com/lnhAyj5UKj— Altcoin Sherpa (@AltcoinSherpa) November 29, 2023
ETH Forms a Golden Cross
At press time, ETH’s value was $2,038. Earlier in the week, the coin broke above $2,100. However, negative marke…
The post ETH to $3,000? Here’s What the Technical Outlook Suggests appeared first on Coin Edition.