The path to $2,650 will depend on Ethereum’s ability to clear resistance levels, maintain technical support, and maintain positive sentiment with continued upgrades.
short term outlook:
In the short term, a break above the high-volume 50-day and 200-day EMAs could push Ethereum towards $2,650.
Volume and RSI signals will be important. If both values are rising steadily, it may indicate strong buying momentum, reinforcing upside potential.
medium term factors:
The successful implementation of The Purge and The Verge will have a positive impact on Ethereum's performance and adoption. Increased efficiency can lead to higher demand and higher prices.
Technological advances and regulatory clarity could drive market sentiment, making Ethereum more attractive and supporting a medium-term price target of $2,650.
potential risks:
Failure to sustain the $2,400 support level could lead to further downside pressure and could push Ethereum below the $2,300 mark.
Uncertainty in global financial markets and negative regulatory actions could impact Ethereum’s growth, making a rise to $2,650 difficult.
Ethereum’s path to $2,650 will depend on whether it can overcome technical resistance, take advantage of network upgrades, and maintain positive sentiment. The Purge and The Verge upgrades bring significant improvements that strengthen the Ethereum network and make it more attractive to developers and investors. A breakout of the 50-day EMA and 200-day EMA on strong volume could start a rally and move Ethereum closer to its target.
For Ethereum to succeed in reaching $2,650, it will need support from both technical and fundamental factors. Monitoring the network's adoption, regulatory landscape, and competitive position will provide insight into Ethereum's potential to reach this milestone soon.
