ETH breaks free; can it touch $2,340?

With open interest climbing and bullish momentum squarely in control, ETH looks poised to leave the crypto winter behind with gusto.

The technical picture is very attractive for a strong near-term upside, with $2,340 the next target in its sights.

While bitcoin has shown some signs of overheating, Ethereum’s more balanced mechanics mean ETH may be ready to outperform sharply.

TLDR

• ETH decisively broke through major resistance at $2,120, opening the path to test $2,340 next.
• The bullish momentum is solid and not yet overheated like BTC.
• A retest of $2,100 region could offer healthy support and provide a buying opportunity.
• A very positive technical setup indicates ETH is likely to strongly outperform in the near term.

Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. “One Glance” by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. They are not signals, and they are not financial advice.

ETH 3D

Technical analysis

• ETH has broken out of the $2,120 horizontal resistance with the upside target of $2,340. If $2,340 can be cleared, $2,640 will be the next target. We think this is very possible...