Ethereum‘s price is currently hovering above $3300 after breaking out from the double bottom pattern a couple of days ago. After breaking through the descending trend, the price gained huge bullish momentum backed by immense buying volume. The consecutive bullish candles formed point out towards a real breakout, paving way for a spike towards $4000.
The ETH price withnessed a couple of fakeout since the beginning of the year 2022 by facing constant rejections at around $3200. The previous attempt of the bears to restrict the price below these levels went in vain as the buyers had accumulated immense momentum over a fortnight. And hence no substantial drop may be encountered until the asset reaches the target at around $4400.
To be Updated…