Ethereum (ETH) is currently exhibiting a technical formation that suggests a potential climb to the $2,500 price level, provided specific market conditions are satisfied. Recent analysis of the ETH/USDT daily chart reveals a consolidation phase that closely resembles a bullish breakout pattern. For the rally to gain momentum, Ethereum must first clear the psychological resistance at $2,350 with a significant increase in trading volume. On-chain metrics support this outlook, showing a consistent increase in total value locked (TVL) within the DeFi ecosystem and a steady rise in active wallet addresses. Additionally, market sentiment remains cautiously optimistic as institutional interest in Ethereum-based financial products continues to grow. However, analysts warn that a failure to maintain support above the $2,150 level could invalidate the current bullish structure. Investors are also closely monitoring Bitcoin’s price stability, as a broader market correction remains the primary risk factor for Ethereum’s projected upward trajectory toward the $2,500 target.
Source: ETH chart pattern projects rally to $2.5K if key conditions are met: Data
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