Analyst sets key condition for Ethereum to rally above $2,000
As Ethereum (ETH) price gained more than 13% over the past 30 days, cryptocurrency analyst Ali Martinez has set a key condition for the altcoin to rally above $2,000. Martinez noted that Ethereum’s price must. . .
As Ethereum (ETH) price gained more than 13% over the past 30 days, cryptocurrency analyst Ali Martinez has set a key condition for the altcoin to rally above $2,000. Martinez noted that Ethereum’s price must hold above its recent support level at $1,850 to rally beyond $2,000, according to his latest X post on July 24. Thecryptoanalyst argued that ETH’s price has been forming a rising channel in its 1-hour timeframe; thus, he set a price target of $2,060 if the lower boundary support level holds. ETH 1-hour chart. Source: TradingView“As long as this support at $1,850 continues to hold, I’m watching for a move back toward the upper boundary near $2,060,” the cryptocurrency trading expertstated. As such, the on-chain analyst expects ETH price to rally 10% as the token traded at $1,882 on Friday, down 2. 3% on the day with $10. 19 billion trading volume in the last 24 hours. Additionally, he expects ETH’s next resistance level at $1,900. So far in July, Ethereum’s price has been forming higher highs and higher lows, thus supporting his outlook. However, if ETH price falls below its established rising channel, the analyst’s target would be invalidated. Best Crypto Exchange for Intermediate Traders and InvestorsInvest in cryptocurrencies and 3,000+ other assets including stocks and precious metals. 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro. com/trading/fees. Copy top-performing traders in real time, automatically. eToro USA is registered with FINRA for securities trading. 30+ millionUsers worldwideeToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more. Join Finbold's newsroom, become a Sales Executive today!Apply now to join Finbold as a crypto/finance news writer!Open Positions