Analysis: Ethereum breaks through key resistance levels, which may trigger a new round of "copycat season"
According to online reports, according to Cointelegraph analysis, the price of Ethereum (ETH) has exceeded the median line of the Gaussian Channel (about US$2,600). This technical indicator has historically predicted a significant rise. Analysis shows that ETH may target US$4,100 and is expected to trigger a widespread "altcoin season." After breaking this level twice in the past, the market value of altcoins has increased by 1,400%(2020) and 200%(2023) respectively. If the pattern of Bitcoin's declining dominance after halving repeats, analysts expect the market value of the altcoin may climb to US$15 trillion. However, beware of risks: ETH holders 'cost base of approximately $12.3 billion is in the range of $2,300 -2,500, and a fall in prices could trigger selling pressure.
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.
