The price of Ethereum has risen from a two-month low in the last week, crossing $3,000 for the first time. After a long period of consolidation, crypto expert Benjamin Cowen believes Ethereum (ETH) is poised for a massive breakout. According to him, the ETH price range of $2,000 to $4,000 represents a large re-accumulation zone for a medium-term price runway. On the daily chart, the price of Ethereum has defied all odds in its quest to reach $3,200. Bulls are fully confident in their ability to profit from the next price drop. Investors are aiming for $3,600 now that the ETH price has successfully crossed the 50 SMA and the bearish sloping line.
The price of Ethereum has dropped by more than 45 percent since its all-time high on November 10. The crypto market has had a difficult time, as the world’s most valuable currency, Bitcoin, has lost more than half of its value since peaking in November. However, the downward trend in pricing was reversed in February.
Are you also bullish on Ethereum?
