Ethereum Holds Key Support Near $2,087 Amid Bullish Outlook Toward $6,000

Ethereum is trading near $2,475. Analysts see potential for a rally to $6,000 if ETH maintains support at $2,087 and breaks key resistance levels, with technical indicators pointing to bullish potential.

Ethereum (ETH) is holding steady near $2,475.79, marking significant support and resistance levels that have caught the attention of both short- and long-term traders. According to technical analysis, Ethereum’s price is consolidating, offering a promising setup for a potential bullish rally.

Analysts like Ali Martinez and KriptoBaykusV2 see critical zones based on price action around the lower Bollinger Band on the daily chart. ETH’s lower Bollinger Band acts as a primary support around $2,403.53, with the upper band at $2,732.31 serving as a potential target should bullish pressure increase. The 20-day SMA, currently $2,567.92, functions as a resistance level, marking a point of possible breakout for bullish investors.

Ali Martinez suggests that Ethereum’s current support level, around $1,880, provides a favorable risk-to-reward ratio, with the potential for ETH to reach $6,000 within its ascending channel. According to Martinez, the recent lows near ETH’s channel’s lower boundary offer an entry point for bulls, who can place stop-losses slightly below $1,880 for risk mitigation. If Ethereum continues its upward momentum, $6,000 remains a plausible target within the next few quarters.

KriptoBaykusV2 has highlighted Ethereum’s consolidation zone, with buying opportunities between $2,087 and $2,311. The resistance is seen around $2,459-$2,531, where nearly 80% of ETH holders currently in profit may exert selling pressure. Traders aiming for short-term gains may look for profit-taking levels around $2,531, while long-term investors see $2,087 as a strategic entry point should ETH continue its bullish course.

The Relative Strength Index (RSI) currently reads at 45.09, indicating slight bearish momentum. However, analysts agree that if ETH sustains above critical support zones, it could drive a bullish turnaround toward its next resistance.

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