Posted 2/22/2024, 7:29:00 AM
Ether Price Soars Past $3K as Technical Indicators Point to Further Gains
- Ether broke out of an ascending triangle pattern, presenting an upside target of $5,200 according to Kraken OTC's analysis
- ETH topped $3,000 this week and broke through a long-standing resistance level, regaining control from bears
- The triangle breakout implies a new all-time high for Ether above the current record of around $4,800
- Other indicators like the Ichimoku cloud also paint a bullish picture for Ether currently
- Bullish technicals align with positive ETH fundamentals like reduced supply since the Merge to proof-of-stake