Ethereum's Price Poised for 41.69% Rally to $2,821

Ethereum's price is exhibiting signs of a potential trend reversal, with technical indicators such as the Continuous Linked Settlement (CLS) suggesting an impending breakout. A crypto expert has analyzed this trend and predicted that Ethereum could rebound to $2,600 during this bull cycle.

David Perk, a TradingView crypto analyst, recently conducted a detailed technical analysis of Ethereum's price. According to his analysis, Ethereum could reach $2,600 and beyond in the coming months. Perk's predictions are based on Ethereum’s daily and monthly CLS. If Ethereum’s price action respects its daily CLS and liquidity zone, it could gradually move upward, targeting its monthly CLS of $2,055 before surging above $2,600.

Perk explained that CLS represents “smart money” across all markets. It is the global settlement system used by major financial institutions, including Foreign Exchange (FOREX) markets. CLS processes a massive volume of capital from large investment and central banks, boasting a daily volume of more than $6.5 trillion. In the case of Ethereum, since CLS follows a structured settlement process, traders who track these cycles can potentially anticipate significant price changes and liquidity shifts. By knowing when large institutional money is entering or exiting the market, analysts can predict ideal entry and exit points for a cryptocurrency.

Perk’s Ethereum price chart shows an area marked in green, which represents the cryptocurrency’s liquidity zone. Additionally, the daily and monthly CLS can be seen, with the former acting as a support area and the latter as a resistance or target for future price movements.

In other news, crypto analyst Marzell shared a bullish prediction of the Ethereum price. Marzell announced that Ethereum has successfully broken out of a Falling Wedge pattern. The Falling Wedge is known as a common bullish reversal pattern where a cryptocurrency’s price moves within two converging trend lines, forming lower highs and lower lows. Notably, Ethereum has broken out of this wedge, signaling a potential rebound is imminent. The breakout occurred around the $1,991 price point, confirming its bullish momentum. As a result, Marzell predicts that Ethereum could experience a massive rally to $2,821, marking a whopping 41.69% increase from its breakout level.