4 Altcoins Shaking Off the Slump: Bullish Reversals in Sight?

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Ethereum eyes $4,000 after breaking out from descending channel, targeting 16.21% increase if bullish momentum holds.
Cardano projects 72.84% surge to $0.71 post breakout from descending wedge, signaling strong bullish reversal.
Polkadot targets $12.00, anticipating 83.65% rise as it breaks out from descending wedge, indicating potential trend reversal.

Ethereum (ETH) has broken out from a descending channel on the 4-hour chart, according to analyst Captain Faibik. This move above the upper trendline suggests a potential trend reversal. ETH is currently trading at $3,444.97, with a 24-hour trading volume of $10.3 billion, down 0.72% in the last 24 hours. Bulls are now targeting $4,000, representing a 16.21% increase from the breakout point near $3,450.

Ethereum/USD 4-hour price chart, Source: Captain Faibik

Key support levels for ETH include the recent breakout point around $3,450 and the lower channel line at $3,000. Resistance levels are at previous highs within the channel, approximately $3,800 to $3,900.

Cardano (ADA) has also confirmed a breakout from a descending wedge pattern on the daily timeframe, according to Captain Faibik. This recent su…

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