Ethereum Price Jumps 11% as BlackRock’s $54M Purchase Sparks Bullish Breakout Hopes
- Ethereum rebounds 10% after hitting the $1,500 support zone.
- Key resistance at $2,200 could unlock a rally toward $3,000–$4,000.
- Bullish momentum hinges on confirming a breakout with strong volume
After dipping into the $1,620–$1,700 support area last week, Ethereum rebounded strongly and climbed to $1,806, marking an 11% weekly gain. Institutions jumped in—BlackRock quietly added $54 million of ETH to its holdings—reigniting optimism about a move toward $2,500 later this quarter.
The bounce also helped ETH recapture its 50-day moving average for the first time since February.
Breaching $2,200 Could Open Path to $3K–$4K
On the weekly chart, Ethereum found support at the bottom of its key zone and reversed higher. The next hurdle is $2,200. A daily close above that level could open doors to a rally targeting $3,000–$4,000 over the next few months. Weekly trading volume rose about 15%, suggesting buyers are gearing up for more gains.
Over the past two months, ETH’s weekly chart shows a falling wedge pattern. In crypto, this setup often signals a reversal. Traders look for a break above the wedge’s upper line. A strong increase in …
The post Ethereum Price Jumps 11% as BlackRock’s $54M Purchase Sparks Bullish Breakout Hopes appeared first on Coin Edition.
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Ethereum Price Jumps 11% as BlackRock’s $54M Purchase Sparks Bullish Breakout Hopes
- Ethereum rebounds 10% after hitting the $1,500 support zone.
- Key resistance at $2,200 could unlock a rally toward $3,000–$4,000.
- Bullish momentum hinges on confirming a breakout with strong volume
After dipping into the $1,620–$1,700 support area last week, Ethereum rebounded strongly and climbed to $1,806, marking an 11% weekly gain. Institutions jumped in—BlackRock quietly added $54 million of ETH to its holdings—reigniting optimism about a move toward $2,500 later this quarter.
The bounce also helped ETH recapture its 50-day moving average for the first time since February.
Breaching $2,200 Could Open Path to $3K–$4K
On the weekly chart, Ethereum found support at the bottom of its key zone and reversed higher. The next hurdle is $2,200. A daily close above that level could open doors to a rally targeting $3,000–$4,000 over the next few months. Weekly trading volume rose about 15%, suggesting buyers are gearing up for more gains.
Over the past two months, ETH’s weekly chart shows a falling wedge pattern. In crypto, this setup often signals a reversal. Traders look for a break above the wedge’s upper line. A strong increase in …
The post Ethereum Price Jumps 11% as BlackRock’s $54M Purchase Sparks Bullish Breakout Hopes appeared first on Coin Edition.
Read More