ETH Price Hinges on Next Move: Will It Break Through or Plummet?
The price of Ethereum has been hovering around $2,500 for several days, sparking debate among analysts about whether it will break through to new highs or plummet to lower levels.
Certainly, some experts believe that ETH is on the verge of a major breakout. According to X user Ted and Michael van de Poppe, if Ethereum can clear the $2,550 resistance zone with a strong weekly close, it could surge all the way up to $3,000.
Furthermore, TRACER noted that each rejection of the asset in the $2,500-$2,550 range has been weaker than the last, suggesting that this resistance will finally be broken soon.
One analyst, MikybullCrypto, even predicted a 'mega breakout' of the nine-year trendline resistance, potentially leading to an explosion all the way up to a new all-time high of $9,000.