DeFi Daily News
Sunday, June 29, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Cryptocurrency Ethereum

rewrite this title Ethereum: $7,000 Target ‘Is Looming’ As Price Retests Key Level

Rubmar Garcia by Rubmar Garcia
January 10, 2025
in Ethereum
0 0
0
rewrite this title Ethereum: ,000 Target ‘Is Looming’ As Price Retests Key Level
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

Este artículo también está disponible en español.

Ethereum (ETH) has seen an over 10% correction from the New Year highs amid the market retrace, recently falling below the $3,300 support. Despite the ongoing pullback, some analysts remain optimistic about ETH’s Q1 performance, suggesting new highs are around the corner.

Related Reading

Ethereum Forming Bullish Pattern

Ethereum shredded its New Year gains today after falling below the $3,320 mark. Following the market retrace, the second-largest cryptocurrency by market capitalization saw a 14% drop from its Monday high of $3,744 to below the $3,300 support.

During the start-of-year rally, ETH’s price recovered 20% from the correction’s lows, surging to pre-retrace levels for the first time in nearly three weeks. However, the market pullback, which saw Bitcoin fall 7.2% in 24 hours, sent Ethereum to the $3,210 level on Thursday morning. The $3,200-$3,300 price range served as a key support zone for ETH throughout December.

After its recent performance, several analysts have suggested the cryptocurrency is forming an important reversal pattern, which could send ETH’s price to new highs. On Wednesday, crypto analyst Rekt Capital noted that Ethereum is forming a multi-month inverse Head and Shoulders pattern in the 1M timeframe.

To the analyst, “it’s clear” that the $3,650-$3,760 area is “a major region of resistance, developing just below the $4,000, with price forming that resistance at a Lower High which could act as a Neckline to the pattern.”

Inverse Head and Shoulders pattern forming on ETH’s chart. Source: Rekt Capital

He stated that “its terminus point is at the psychological level of $3,000,” adding that “any pullback close to the $3,000 level could see Ethereum develop a right shoulder.”

Similarly, As Ethereum dropped to the low of the key $3,200 range, Miky Bull highlighted the same pattern, hinting that the $7,000 target “is looming.” According to the chart, ETH’s price could see an 87.53% increase near the $7,400-$7,500 price range, based on the bullish setup.

No More ‘Major Retraces’ For ETH?

Crypto analyst Ali Martinez also shared his view on the bullish pattern, asserting a downswing to $2,900 “will be very bullish” for ETH. The analyst argued it would create “an excellent buy-the-dip opportunity to target $7,000 next!”

However, it’s worth noting that the bullish pattern would be invalidated if Ethereum falls below $2,800, where the left shoulder formed.

Meanwhile, another market watcher shared the similarities between ETH’s performance at the start of 2024 and 2025, highlighting the King of Altcoins falling below its yearly opening during January 2024 before climbing up the following month.

Related Reading

He stated, “I think it’s really important not to conflate a few days of red price action with high time frame bias. I am firmly of the opinion that this is a yearly open shakeout after some overly eager participants levered up too big, too early. I am very bullish on H1 2025.”

Analyst Crypto Wolf considers there will likely be “little to no downside left,” suggesting that ETH could retrace another 4% to 7% maximum before it aims for all-time high (ATH) levels.

As of this writing, ETH is trading at $3,255, a 2.15% decrease in the daily timeframe.

Ethereum, eth, ethusdt
Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: EthereumKeyLevelLoomingPriceRetestsrewritetargettitle
ShareTweetShare
Previous Post

rewrite this title Vitalik Buterin warns we need decentralized defenses to handle AI risks

Next Post

rewrite this title Bitcoin ETFs and Beyond: TradFi’s Role in Shaping Crypto’s Future

Next Post
rewrite this title Bitcoin ETFs and Beyond: TradFi’s Role in Shaping Crypto’s Future

rewrite this title Bitcoin ETFs and Beyond: TradFi's Role in Shaping Crypto's Future

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – alt=

rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – $0.5 Reclaim In The Horizon?

June 28, 2025
rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

June 28, 2025
rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

June 27, 2025
rewrite this title with good SEO Bitcoin Could Explode On Bessent’s 0 Billion Deregulation Shock

rewrite this title with good SEO Bitcoin Could Explode On Bessent’s $250 Billion Deregulation Shock

May 28, 2025
Rough N’ Rowdy 25 FREE PREVIEW | Watch 20 Fights + Ring Girl Contest TONIGHT

Rough N’ Rowdy 25 FREE PREVIEW | Watch 20 Fights + Ring Girl Contest TONIGHT

August 9, 2024
rewrite this title Top 10 Best Cryptocurrency Cloud Mining Sites in 2025 – A Beginner’s Guide to Earning Free BTC and DOGE with an  Cloud Mining Bonus

rewrite this title Top 10 Best Cryptocurrency Cloud Mining Sites in 2025 – A Beginner’s Guide to Earning Free BTC and DOGE with an $18 Cloud Mining Bonus

April 8, 2025
rewrite this title Vitalik Buterin says pluralistic ZK digital IDs are the ‘best realistic solution’ to preserve privacy

rewrite this title Vitalik Buterin says pluralistic ZK digital IDs are the ‘best realistic solution’ to preserve privacy

June 29, 2025
rewrite this title and make it good for SEO4 Signs Stagflation Could Be Coming in 2025

rewrite this title and make it good for SEO4 Signs Stagflation Could Be Coming in 2025

June 29, 2025
rewrite this title Spot Bitcoin ETFs Add 1,430 BTC Daily As AUM Head For 1.2 Million BTC Mark – Analyst

rewrite this title Spot Bitcoin ETFs Add 1,430 BTC Daily As AUM Head For 1.2 Million BTC Mark – Analyst

June 29, 2025
I Thought I Could Gamble My Way Out Of A Car Payment

I Thought I Could Gamble My Way Out Of A Car Payment

June 29, 2025
rewrite this title and make it good for SEO Chainlink Momentum Wavers, XRP ETF Spikes, BlockDAG Drops 100M BDAG in Airdrop

rewrite this title and make it good for SEO Chainlink Momentum Wavers, XRP ETF Spikes, BlockDAG Drops 100M BDAG in Airdrop

June 29, 2025
rewrite this title The 6 Doomsday Scenarios That Keep AI Experts Up at Night – Decrypt

rewrite this title The 6 Doomsday Scenarios That Keep AI Experts Up at Night – Decrypt

June 29, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.