Ethereum Price Prediction Shifts to $2,800 Following Ascending Triangle Breakout

Ethereum (ETH) has broken above an ascending triangle on its four-hour chart, and analysts are predicting a move to $2,800.

The Cryptomist believes that Ethereum's next move will depend partly on how high Bitcoin climbs. This indicates that the two cryptocurrencies have a symbiotic relationship in the market.

ETH liquidations reached $261.74 million over 24 hours, with shorts accounting for $216.64 million. However, this imbalance became more pronounced over the latest 12 hours, with total liquidations reaching $243.67 million and shorts representing $208.20 million.