Ethereum News: Potential Rally Towards $3,260 as Ethereum Breaks Key Levels

Ethereum’s price action has been nothing short of exciting in recent times, with the altcoin showcasing strong bullish momentum. Technical indicators are pointing towards a potential rally towards $3,260, as Ethereum breaks above crucial thresholds and out of a descending triangle pattern.

Ethereum Price Prediction: Potential Rally Towards $3,260

Ethereum’s price has reclaimed $2,350, with technical indicators supporting a potential rally towards $3,260. The altcoin’s pricing bands identified key levels, with ETH breaking above a crucial threshold – a sign of strong bullish momentum. On 6 March, ETH was trading at $2,203.57, with the realized price at $2,075.57. The netflow analysis also alluded to shifting market sentiment.

Ethereum Breaks Out Of Descending Triangle Pattern – Future Uncertain

Ethereum (ETH) has been hovering around the $2,200 level, struggling to reclaim higher prices despite multiple attempts. The market sentiment remains bearish, even after the announcement of the US Strategic Bitcoin Reserve. Analysts believe the next week will be crucial, as ETH approaches critical demand levels. If bulls can defend key support zones, Ethereum may regain momentum. However, failure to hold these levels could lead to further downside pressure. Top analyst Carl Runefelt shared a technical analysis highlighting that Ethereum is breaking out of a pattern that often signals a potential breakout.

1inch Hacker Returns $5 Million Stolen Funds After Negotiation

1inch experienced a breach on March 5 due to a vulnerability in an outdated version of its smart contract. After negotiations, the attacker returned most of the $5 million stolen, keeping a portion as a bug bounty. The breach was caused by a flaw in the Fusion v1 resolver smart contract, an obsolete platform component. The team detected the incident at approximately 6 PM UTC on March 5.

Ethereum: Bullish Reversal Signal Detected, Should You Buy ETH’s Dip?

Ethereum’s weekly Stochastic RSI crossover has entered the oversold zone, a historically bullish signal that has preceded major price surges in the past five years. Similar setups have consistently signaled explosive Ethereum rallies, including before ETH’s run to its all-time high of $4,869.47 four years ago and during the post-election rally when ETH reclaimed $4K after nine months of consolidation. Currently, ETH is trading 45.50% below its all-time high, with the Stochastic RSI indicating an extreme oversold condition.