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According to analysis re-shared by Tom Lee, Ethereum is currently within an ascending channel that has been forming since 2017. This channel is a gradual upward price pattern, where the lower line acts as support and the upper line acts as resistance. In 2020, ETH bounced off the lower line of this channel and then rose approximately 5,200% to reach a cycle peak. Now, a similar situation is occurring again. The ETH price appears to be stabilizing in a long-term support area, specifically around $1,300–$2,000, known as the accumulation zone. If this pattern repeats, projections indicate the potential for a gradual increase to around $15,800 in 2028 and reaching $60,000 in 2030.
#WCTCTradingKingPK $ETH