US EditionEthereum News: ETH Likely Building Energy to Smash Through $3K Price Barrier
- Ethereum is consolidating near $2,600 on May 29, 2025, and approaching a critical resistance zone below the $3,000 level.
- This consolidation follows an ascending triangle pattern with rising reaction lows and narrowing Bollinger Bands signaling potential volatility expansion.
- Technical indicators including an impending 50-day SMA crossover above the 100-day SMA and the historical importance of the $3,000 level support a possible bullish breakout.
- Chartered Market Technician Charles Kirkpatrick noted that upward breakouts take place in approximately 77% of cases, typically advancing about 61% of the way between the base and the cradle, highlighting the strong probability of breakout movements.
- If ETH breaks above $3,000 with conviction, it could trigger a new bullish phase and broader altcoin resurgence, though analysts also caution about possible retracements.
16 Articles
16 Articles
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Ethereum Price Prediction For May 29
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Ethereum's Potential Rise: Ascending Triangle Pattern Indicates Possible Break Above $3,000 - The Blockopedia
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