Breakout Signal
Ethereum expert Javon Marks believes that Ethereum has just had a major breakout, signaling a potential rally. This breakout follows several bullish indicators, including:
- Bull Flag-like price pattern
- Higher lows in price action
- Lower lows in Relative Strength Index (RSI)
- Upside breakout to $4,811
All-Time Highs in Sight
Marks predicts that this breakout could lead to new all-time highs for Ethereum, potentially benefiting other altcoins as well.
Breakout Confirmed
Less than 2 hours after his initial prediction, Marks confirmed that Ethereum had broken out of the Bull Flag pattern and was surging upwards.
Potential Growth
Based on the breakout, Marks estimates that Ethereum’s price could rise by 50% to $4,811. This could potentially lead to prices topping $5,000 and setting new records.
Bearish Movement
Despite the breakout, Ethereum is currently experiencing a bearish movement after failing to break above $4,000. However, analysts still expect a recovery soon.
Market Performance
In the past 24 hours, Ethereum has declined by over 5%, but it has gained over 20% in the past week. Its market capitalization has decreased to $445.95 billion, while its trading volume has increased by over 65%.
