ETHUSDT Maintains Uptrend – Next Target $5,000?
2024-11-12

Currently, ETHUSDT is in a steady uptrend within an upward price channel, defined by two upper and lower trendlines. This price channel shows sustainable growth and creates trend-following trading opportunities.

The main support zone is located in the green area (from around $2,400 to $2,800). This is a strong support zone that has been tested many times, providing a solid foundation for Ethereum's uptrend.

The EMA 34 (purple) and EMA 89 (orange) are below the current price, which is a signal that the bullish momentum is still dominant. As the price continues to stay above these EMAs, the uptrend will be further strengthened.

If ETH can maintain the uptrend and break out of the support zone, the next price targets will be higher levels within the price channel.

The chart shows a potential rise to the $5,000 region and a possible test of the upper resistance of the long-term price channel if the uptrend is maintained.