Ethereum Poised for Potential 60% Rally to $3,186 if Key Support Holds
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Ethereum price is consolidating inside an ascending triangle on the weekly chart. A breakout from this could trigger a 43% rally to $2,943.
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ETH is currently above the MRI support at $1,936. As long as this holds, Ethereum is poised to breakout.
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The target is $2,943 but ETH could potentially rally to $3,186 which would be a 60% gain.
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If ETH fails to hold the $1,936 support, it could correct to $1,795 where buyers could try again for the breakout.
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A weekly close below $1,547 would invalidate the bullish setup and could see ETH drop to $1,309.