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Is the Ethereum price now rising rapidly to USD 11,000?



The Ethereum price could now soar to USD 11,000 if it breaks out bullishly against BTC. Will Ethereum break out bullish?


The Ethereum price is on the verge of a bullish breakout

The Ethereum price is currently in a bullish momentum and is about to break out bullish. The course has not left the symmetrical triangle in months, but this may change now. Should the Ethereum price break the resistance at 0.085 BTC, the all-time high at around 0.16 BTC could be reached again. After breaking the golden ratio at 0.085 BTC, this would mean an upside potential of around 80% - and that against Bitcoin ! Should Bitcoin rise at the same time, this could massively drive the Ethereum rate against the US dollar.


Ethereum price: Very bullish development over the last three days

Since Ethereum reached the support at around USD 4,000, the Ethereum price has risen sharply. Initially, the ETH price rose to the golden ratio resistance at around USD 4,500. There the price bounced off very strongly and returned to the Fib support at USD 4,000. But this significant support was successfully maintained and the Ethereum price has been in a continuous upward movement since then. Both the horizontal resistance at around USD 4,300 and the golden ratio at around USD 4,500 were left behind. This means that the ETH price is almost back at the all-time high at around USD 4,900. The MACD is also developing strongly bullish in the daily rate - the histogram is moving upwards and the MACD lines have only recently crossed bullishly. The ETH price will only find the next resistance at the ATH at around USD 4,900.


Ethereum starts the week bullish

The weekly rate makes it very clear how bullish the ETH rate bounced off the Fibonacci level at USD 4,000 last week. This week the ETH price starts all the more bullish and at 4,700 USD the ETH price is only a few dollars away from the ATH. In the weekly rate, the MACD's histogram is also currently developing bullish again.


ETH price could rise to 11,000 USD

If the ETH price should now overcome the all-time high and also break out bullish against Bitcoin , Ethereum could rise to the next Fibonacci level at around 6,000 USD in a very short time. If Ethereum breaks this as well, Ethereum could reach a double-digit five-digit price and climb to around USD 11,000.

There was now a golden crossover in the 4-hour chart, with which the death cross had no effect. This is an extremely bullish sign for the ETH course! This confirmed the bullish trend in the short to medium term.

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