Carl Runefelt warns Ethereum must surpass $2,700 to avoid dip
@TheMoonCarl: Ethereum must surpass $2,700
Cryptocurrency analyst Carl Runefelt, known for his insights on digital assets, alerts that Ethereum faces a critical juncture in its price trajectory.
According to Runefelt, Ethereum needs to break above $2,700 soon to maintain its upward momentum and avoid a significant drop. He draws attention to a rising wedge formation—a technical analysis pattern that may indicate potential price declines. ''Ethereum needs to break above $2,700 ASAP, otherwise this rising wedge might lead ETH to a drastic drop,'' Runefelt stated in a tweet, highlighting the urgency for the cryptocurrency to overcome this critical price level.
The cryptocurrency market remains volatile, and Ethereum's performance at this pivotal level will be closely watched by investors and traders alike.
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Runefelt’s latest observations align with his earlier warning about the risk of Ethereum falling to $2,200 if resistance levels persist, underscoring the enduring challenges in the cryptocurrency’s price movements. His analysis of sudden market pivots is further reflected in his outlook on a potential HBAR breakout above resistance, highlighting the significance of key technical thresholds across digital assets.
