Can ETH Maintain Its Uptrend and Reach New Highs?

ETHUSDT shows strong bullish momentum after rebounding from the key support level at 2900. The EMA ribbon confirms the upward trend, acting as a dynamic support throughout the price action. The ascending trendline indicates that buyers have consistently stepped in at higher lows, reinforcing the bullish structure.

Using a Fibonacci extension from the previous cycle, potential targets are at the 100% level (5663.56) and the 161.8% level (8618.84). For the bullish scenario to remain valid, the price must stay above 2111; a close below this level would invalidate the setup and signal a shift in market dynamics.

Additionally, the Signal Builder has recently provided upward signals, complementing the technical bullish outlook. If the price maintains the current trend and breaks through resistance levels, it could be poised to test the outlined targets.

👨🏻‍💻💭 What do you think about this ETH setup? Are these targets achievable? Share your insights!
__
The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.