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The crypto markets have been filled with hope soon after the fresh CPI rates went in favour of the space. Although the Bitcoin price failed to react positively, it sustained strongly and defended the lower support, suggesting the token is well prepared for the next rally. Besides being the second largest token, Ethereum is also following the star token but displaying more potential and strength, which may even surpass Bitcoin in terms of gains.

Soon after the SEC officially approved all the spot Bitcoin ETF applications, the crypto space, including ETH prices, roared beyond their respective resistances. While a decent pullback was expected, the token managed to sustain above the gains, displaying the dominance of the bulls. Regardless of the mountaineering selling pressure, the token is expected to maintain a healthy upswing and is speculated to rise beyond the pivotal targets.

A popular analyst, Michael van de Poppe, in his recent analysis, has lauded the bullish strength and hence believes the price may make it to $3500 very soon.

In the above chart, the analyst highlights the price sticking above the levels around $2,140 for quite a long time. As a result, the levels had become a strong support zone but were failing to trigger a healthy upswing towards the next higher target. However, the recent breakout has partially changed the scenario, which now suggests a continuation beyond $2700 could be imminent.

Ethereum flipped the crucial level at $2,130 for continuation,

After that, breakout towards new cycle highs at $2,700 and looking for continuation to $3,500 in the coming 2-3 months,

Collectively, the ETH price continues to display extreme strength regardless of the bearish pressure slowly intensifying. The price after breaching the crucial resistance zone is accumulating strength and hence is believed to trigger a fresh upswing towards $2,700 initially, which may pave the way for a major breakout above $3000.

Continued here:

A Popular Analyst Figures Out the Next Price Action for Ethereum: Says ETH Price May Reach These Levels in 2-3 Months - Coinpedia Fintech News