RE: LeoThread 2024-12-31 08:23

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Ethereum Path To $8,000 Milestone Unshaken By Market Fluctuations – Analyst Claims

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Ethereum‘s long-term outlook appears to be quite positive as ETH sees a wave of bullish predictions about a move to unprecedented heights in the ongoing market cycle.

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As ETH navigates the volatile phase, a shift in momentum might signal the start of its next major price surge.

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$8,000 Price Target Remains Within Reach For Ethereum

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Amid waning market conditions, Trader Tardigrade, a crypto expert and investor, has pointed to an optimistic future for Ethereum in a recent analysis.

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Specifically, the analyst has claimed that the altcoin’s path to a new all-time high is not wavered by ongoing market fluctuations.

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This implies that ETH’s long-term bullish outlook is unlikely to be derailed by short-term turmoil.

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The analyst’s forecast comes in light of rising investors’ confidence and growing accumulation, which could maintain the altcoin‘s upside trajectory.

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According to the expert, Ethereum’s trajectory toward the $8,000 milestone remains intact, indicating ETH’s resilience in the current market cycle.

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His bold prediction hinges on ETH performing similarly to past cycle trends, which led to its all-time high.

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“Patterns in the 2021-2025 cycle are very similar to those in the 2018-2021 cycle,” the expert stated.

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Furthermore, he highlighted that ETH is developing a greater consolidation before its next massive bull run to the $8,000 level.

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This huge consolidation is considered to be the final one as ETH prepares for a breakout into uncharted territory.

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Ethereum’s upward momentum is further bolstered by the formation of a key chart formation, particularly the Cup and Handle pattern.

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Trader Tardigrade cited the pattern after examining ETH’s price action in the monthly time frame.

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A Cup and Handle formation is a bullish technical pattern that marks a consolidation period followed by a breakout.

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It is a positive continuation formation that occurs during an uptrend, indicating that ETH may be set for an upward move.

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