Ethereum (ETH) Price Shows Signs of Recovery: Analysts Eye Potential 100% Rally
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Ethereum's price has begun to recover, climbing above $2,350 after hitting a low of $1,910. Technical indicators suggest that if Ethereum can break through the $2,680 resistance zone, it could climb even higher.
This recovery mirrors a pattern observed in October 2023 that resulted in a 178% price increase. Both on-chain metrics and technical indicators support the possibility of a significant rally.
Specifically, metrics like the MVRV Z-Score suggest Ethereum has room to grow, reinforcing analysts' predictions of a 100% rally.
Source: blockonomi.com ↗
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