Ethereum recently hit the $2,100 mark, raising questions about further growth potential. Let's examine the technical aspects and forecasts for this cryptocurrency.
Ethereum Flag Pattern Formation
After testing the $1,930 level, Ethereum's price reached $2,100 for the first time in 14 days. A flag pattern has formed on the hourly chart, suggesting a rise in bullish sentiment in the crypto space.
Is Ethereum a Good Investment?
If the bulls continue to pressure, Ethereum may retest the $2,100 resistance level. Holding the price above this mark may increase the chances of reaching $2,155. However, a pullback to $2,065 or even $2,000 is possible under unfavorable market conditions.
Current Market Sentiments Overview
The Relative Strength Index indicates bullish sentiment, but moving averages suggest a potential correction. Expectations and projections remain volatile.
Despite the volatility, Ethereum shows growth. Attention remains on the $2,100 level and potential movement toward $2,200.
