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Ethereum at a Crossroads of $2,550... Weekly Close Above Could Open Path to $3,000

As Ethereum (ETH) trades around the $2,500 mark, analysts say whether it can break through $2,550 will determine its future direction. Overseas crypto media outlet CoinGape reported, citing an analysis by crypto analyst Ali Charts, that if Ethereum closes above $2,550 on the weekly chart, upward mo

Oseong Kwon
Staff Reporter
7 min read
Ethereum at a Crossroads of $2,550... Weekly Close Above Could Open Path to $3,000
CBC News

As Ethereum (ETH) trades around the $2,500 mark, analysts say whether it can break through $2,550 will determine its future direction.

Overseas crypto media outlet CoinGape reported, citing an analysis by crypto analyst Ali Charts, that if Ethereum closes above $2,550 on the weekly chart, upward momentum toward $3,000 could come into focus. At the time of writing, Ethereum was trading near $2,507. At the same time, Bitcoin traded around $77,329, Ripple (XRP) at $1.36, and Solana near $101.19, CoinGape said.

■ September Fed Meeting and CLARITY Act as Variables

Market attention is focused on the U.S. Federal Reserve meeting scheduled for September 15-16 (local time). According to CoinGape, the outcome of this meeting could reshape market expectations on interest rates and risk assets. Another variable for the crypto market is the U.S. Senate's procedural vote on the CLARITY Act on September 15 (local time).

■ 'Triangle' on 12-Hour Chart... $3,000 Scenario Back in Focus

Ali Charts analyzed that a triangle pattern is forming on Ethereum's 12-hour chart. CoinGape reported that amid this pattern, the possibility of a rise to $3,000 is once again drawing attention. At the time of the analysis, Ethereum was priced at about $2,474, with the ascending trendline and the recent high converging toward each other.

Ali Charts previously pointed to a case where Ethereum surged 31% in just three days after breaking out of a similar triangle. On September 13 (local time), he said, "When Ethereum broke out of the last triangle, it surged 31% in three days. Another triangle is now forming, and if it breaks out again, a similar move could take it to $3,000."

However, CoinGape made clear that $3,000 is not a definitive price forecast but one possible scenario. If the price continues to clear resistance levels, the $3,000 outlook could gain strength, but if the price falls below newly formed support levels, it could negatively affect the current chart structure.

■ Sideways Trading After Late-August Bounce... Indicators Show Weakening Upward Momentum

Looking at price action, CoinGape said Ethereum traded at $2,506 on the 4-hour chart as of September 13 (local time), up 0.73% on that candle. After rallying sharply from lows near $2,000 in late August (local time), Ethereum has mostly moved sideways. On September 11 (local time), it briefly climbed to $2,600 but gave back its gains and fell back to around $2,500.

According to technical indicators cited by CoinGape, the Moving Average Convergence Divergence (MACD) stood at 6.47, below the signal line of 9.24. The histogram recorded -2.76, indicating that recent upward momentum was weakening. The Relative Strength Index (RSI) was 51.77, slightly above the neutral threshold of 50.

■ Key Price Levels: $2,550 to $2,600 on the Upside, $2,400 on the Downside

Regarding future price ranges, CoinGape said that if Ethereum moves above $2,510, the $2,550 zone could regain attention, followed by the recent high of around $2,600 as the next level. Conversely, if Ethereum falls below $2,490, the next support zone could be around the $2,400 level, CoinGape analyzed.

[This article is by no means an investment solicitation. The content may be merely opinion, so please do not use it as a reference or material for investment decisions. All investments are made at the investor's own judgment and discretion, and the final responsibility lies with the investor. This publication assumes no responsibility whatsoever.]

Oseong Kwon
Staff Reporter

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