Ethereum Breaks 200-Day Trendline to Hit 2022 High of $1,916 as Bulls Target $2,000+
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Ethereum (ETH) price broke out above 200-day descending resistance trendline, reaching new 2022 high of $1,916.
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Daily RSI is rising above 50, indicating bullish momentum. No bearish divergence seen yet.
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Elliott Wave analysis suggests ETH is in wave 3 of 5, with potential to reach $2,000+. A break above $1,950 is key.
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Analysts are overwhelmingly bullish, with targets above $2,000. Altcoin season could follow an ETH breakout.
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Invalidation level is $1,521. Falling below that could see 36% drop to $1,200 support. Upside potential appears greater than downside risk.