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While Bitcoin has faced strong bullish momentum in recent weeks, achieving new all-time highs consistently for days, Ethereum has been an underperformer, unable to catch up with BTC’s bullish pace. Even compared to other crypto assets (altcoins) in the market, Ethereum has failed to make a major rally that melts faces. Instead, as Bitcoin achieved a peak above $93,000, leading the overall crypto market in a bullish market, Ethereum has only been able to surge to just $3,396 over the same period BTC broke multiple resistances to achieve consistent new highs. Related Reading: Ethereum Price at $3,000: Can Support Prevent Further Losses? So far, ETH remains roughly a 37.5% decrease away from its all-time high of $4,878, seen 3 years ago in November 2021. At the time of writing, the asset faces a correction alongside the rest of the crypto market, including Bitcoin. ETH has declined by 2.3% in the past day, currently trading at $3,023. Why is Ethereum Struggling to Catch Up? The underperformance of Ethereum relative to Bitcoin has caught the attention of market analysts. One key observation comes from a CryptoQuant analyst known as Darkfost, who provided a possible explanation for Ethereum’s price stagnation. According to Darkfost, the taker buy-sell ratio is a crucial metric to consider, particularly on the Binance exchange. This ratio is an indicator of short-term market sentiment, and when it remains below 1, it suggests there is more selling pressure than buying interest. It can also indicate a hesitation among traders to accumulate ETH at current levels, which could contribute to a lagging price performance. Darkfost noted: The taker buy-sell ratio on Binance remains bearish, as it has been below 1 most of the time over the past month. This indicates that traders are more willing to sell than buy ETH, which could explain why ETH is currently underperforming compared to BTC. Is There Still Hope For ETH? Despite Ethereum’s struggle to match Bitcoin’s gains, some analysts remain optimistic about the long-term potential of ETH. For example, a well-known crypto analyst, Kingpin Crypto, expressed a bullish sentiment regarding ETH at its current price levels. In a recent post on X, Kingpin Crypto suggested that ETH trading around the $3,000 mark presents a notable buying opportunity. $ETH – Buy with conviction around the orange line and retire. I know the BTC pair is underwhelming and feels like it will be down only forever. However, I am telling you… Ethereum will make a NEW ATH this cycle. pic.twitter.com/T2r2TDmkb7 — Kingpin Crypto (@Kingpincrypto12) November 15, 2024 Similarly, another crypto analyst, Yoddha, shared an analysis indicating a potentially bullish pattern for Ethereum. According to the chart shared by Yoddha, ETH’s historical price movements often include a phase of retesting followed by a sharp surge in value. Yoddha highlighted that Ethereum may have already completed its retest phase, suggesting that a strong price rally could be on the horizon. Related Reading: Ethereum’s Positive Funding Rates Push Price Near $4K—Are There Any Downsides? The chart labelling “we are here” points out the current position of ETH within this pattern, implying that a significant upward move may soon follow. Featured image created with DALL-E, Chart from TradingView

In a significant development for the Ethereum (ETH) ecosystem, researchers propose redesigning the network’s consensus layer, aiming to enhance scalability, decentralization, and security.  During a presentation at DevCon in Bangkok on Tuesday, Justin Drake, an Ethereum Foundation researcher, introduced the concept of “Beam Chain,” a new consensus layer intended to replace the existing Beacon Chain. The Beam Chain Proposal Drake explained that the Beacon Chain, which has been operational for five years, has become somewhat outdated. “In those five years, so much has happened,” he remarked, highlighting the rapid advancements in blockchain technology and research.  The redesign will reportedly focus exclusively on the consensus layer, leaving the Ethereum Virtual Machine (EVM) and the binary large object (blob) data layer untouched.  Related Reading: Shiba Inu Burn Rate Crashes 82% Despite Recovery, Can SHIB Price Still Make It To $0.00008 ATH? In addition, the Beam Chain aims to revamp several critical aspects of Ethereum’s staking mechanism, block production system, and cryptographic architecture. One of the central proposals is to reduce the validator bond from 32 ETH to just 1 ETH, a move intended to foster greater decentralization within the network.  Drake noted that the current issuance model for Proof of Stake (PoS) is perceived as flawed, presenting an opportunity for improvement that could benefit Ethereum’s long-term health. To enhance censorship resistance, the proposal includes mechanisms for attestor-proposer separation, which would further secure the block production process. Additionally, the Beam Chain is designed to improve throughput by accelerating block time slots, ultimately leading to faster transaction confirmations. Plans To Transform Ethereum Future A hallmark of the Beam Chain initiative is its incorporation of zero-knowledge (ZK) consensus, which leverages Succinct Non-interactive Argument of Knowledge (SNARK) proofs.  These cryptographic tools will serve dual purposes: enabling consensus clients to compile high-level languages into bytecode and creating a “hash-based post-quantum infinitely-aggregatable scheme” that can condense thousands of hashes into a single proof.  Recent advancements suggest that users can prove over 2 million hashes per second, indicating that the “SNARKification” of the consensus layer is feasible even on consumer-grade hardware. Drake outlined that if the community supports the proposal, the next steps would involve specification in 2025, development in 2026, and testing in 2027.  The researcher described this strategy as “ossification accelerationism,” aiming to achieve stability and maturity for Ethereum sooner rather than later. “We want Ethereum to go into ‘maintenance mode’ as soon as possible,” he stated. Related Reading: Bitcoin Price Prediction: Analyst Sets $320,000 Target As Wave 5 Begins The proposal has generated considerable interest within the Ethereum community, with Drake emphasizing the importance of community participation in shaping the future of the consensus layer. He referred to the Beam Chain as his “most ambitious initiative to date,” highlighting the need for collaboration to realize this vision. In an exclusive interview with NewsBTC, Professor Christian Cachin from the University of Bern commended the Beam Chain proposal for its potential to solidify Ethereum’s consensus roadmap.  Cachin noted that while the planned upgrades involve sophisticated and non-backwards-compatible technologies, they are crucial for advancing Ethereum’s scalability and overall capabilities:  As far as I see so far, the proposal makes the existing Ethereum consensus roadmap concrete, it takes the next steps toward more powerful and more scalable consensus of Ethereum. At the time of writing, ETH was trading at $3,227, up 22% for the week. Featured image from DALL-E, chart from TradingView.com

Ethereum (ETH) appears to be finally waking from its slumber, surging nearly 37% in the past week following Bitcoin’s (BTC) all-time-high (ATH) rally. Spot Ethereum ETFs Record Daily Inflows Ethereum, the second-largest cryptocurrency with a market cap of approximately $404 billion, is now gaining ground on BTC, with the platform’s ETH token jumping more than 35% over the past week. Related Reading: Ethereum Could Be Set To Explore New Highs As On-Chain Metrics Light Up While the broader digital assets market has been buoyed by Donald Trump’s victory in the 2024 US presidential election, additional factors may also be driving the recent industry boom, especially for ETH. A key data point is the substantial inflow of funds into spot ETH ETFs. On November 11, US-based spot ETH ETFs attracted a record $295 million in daily inflows, the highest amount to date. In comparison, the previous peak for daily inflows into spot ETH ETFs was $106 million, recorded on the first day these ETFs launched in July 2024. According to data from SoSoValue, the record inflows were led by Fidelity’s FETH ETF, which drew in $115.48 million.  BlackRock’s ETHA followed with $101.11 million, Grayscale’s ETH with $63.32 million, and Bitwise’s ETHW with $15.57 million. At the time of writing, the total value of net assets held across various spot ETH ETFs stands at $9.72 billion, representing just over 2.41% of Ethereum’s total market cap. Meanwhile, cumulative net outflows from all spot ETH ETFs amount to $41.30 million. ETH Price Action And Resurgence In DeFi Renewed interest from institutional investors in Ethereum ETFs amid record daily inflows appears to be contributing positively to ETH’s price action. Related Reading: Survey Finds Almost 70% Of Ethereum Institutional Investors Engaged In ETH Staking Throughout much of 2024, ETH lagged in price performance among major cryptocurrencies such as BTC and Solana (SOL). However, Q4 2024 holds potential for a dramatic turnaround in ETH’s momentum. Analysis shared by Leon Waidmann, Head of Research at Onchain Foundation indicates that ETH staking levels are at an ATH, while the token’s reserves on crypto exchanges is heading toward record lows.  This combination of record-high staking levels and reduced supply on exchanges suggests a potential supply squeeze, which could trigger a parabolic rally for ETH. Additionally, the ETH/BTC ratio seems to be recovering after prolonged losses, with the trading pair rising from 0.034 to 0.040 before dipping to 0.037 at the time of writing. The next major resistance for this pair lies around 0.040, and a successful breakout from this level could lead to more gains for ETH over BTC. At press time, ETH sits about 32% below its ATH value of $4,878 recorded in November 2021. Further, Ethereum’s decentralized finance (DeFi) activity seems to be picking steam. Data from DefiLlama shows that the total value locked (TVL) across Ethereum-based DeFi protocols currently sits at $62.36 billion, up from about $24 billion in November 2023. Over half of this TVL is tied to the ETH staking platform Lido, which holds close to $33 billion. Lido is followed by the DeFi lending protocol Aave with $15.21 billion and EigenLayer with $14.57 billion. That said, concerns remain regarding ETH’s “ultrasound money” narrative due to the token’s high issuance rate. At press time, ETH trades at $3,291, up 3.1% in the past 24 hours. Featured image from Unsplash, Charts from X.com, DefiLlama.com, and TradingView.com

Justin Drake, a researcher at the Ethereum Foundation, announced a new consensus layer upgrade proposal called “Beam Chain” during Devcon on Tuesday. The ambitious project aims to overhaul Ethereum’s consensus mechanism by 2030. What Is The Ethereum Beam Chain? “The Beam Chain is a complete redesign of Ethereum’s consensus layer,” explained Porter, a prominent figure […]

Ethereum has staged an impressive 35% rally since last Tuesday, marking a bullish breakout as it tests crucial supply levels for the first time since late July. Investor sentiment is increasingly optimistic, driven by a surge in Ethereum’s on-chain activity.  Key data from IntoTheBlock reveals that transaction volume on Ethereum’s mainnet has reached its highest levels since July, a bullish signal highlighting renewed interest and activity in the network. This surge in volume is often seen as confirmation of a breakout, aligning with expectations from investors who have anticipated a strong rally toward Ethereum’s yearly highs.  Related Reading: Avalanche Nears Breakout – Top Analyst Sets $420 Target For AVAX This Cycle With momentum building, ETH now stands at a pivotal point: if it can maintain strength above these new levels, the stage may be set for further upside as the broader crypto market rallies alongside Bitcoin.  The next few days will be crucial for Ethereum as traders watch to see if the bullish sentiment can sustain and propel ETH higher into new price territory. Ethereum Bullish Trend Begins Ethereum has entered a new bullish phase after eight months of consistent selling pressure and significant accumulation by smart money. Following a long period of subdued price action, ETH is finally rising, signaling a trend reversal many analysts and investors eagerly awaited.  Data shared by IntoTheBlock on X shows that Ethereum’s mainnet transaction volume has surged significantly, with nearly $60 billion settled over the past week—the highest level since July. This spike in volume is a clear indicator of renewed market interest, and it suggests that more investors are actively trading and accumulating ETH.  When transaction volumes rise alongside price increases, it often signals healthy demand and strong market confidence, supporting the likelihood of a sustained bullish trend. Related Reading: Cardano Skyrockets Over 40% – Funding Rate Suggests Further Upside The next few months are expected to be volatile as speculative interest and trading activity heat up, with many traders positioning for substantial gains. Despite the anticipated price swings, analysts agree that Ethereum’s next major target is its yearly high of $4,000. Breaking this level would confirm Ethereum’s bullish momentum and set the stage for potential new all-time highs, aligning with the broader market’s optimism. ETH Consolidates Above $3,000  Ethereum is trading at $3,180, following a recent push to a local high of $3,250. After a strong weekend rally, the price paused, hinting at the need for consolidation before another potential breakout. This period of sideways movement could be essential for ETH to establish support and prepare for further upside, as it allows buyers to gather momentum while absorbing any short-term selling pressure. Key technical levels show that bullish sentiment is likely to strengthen if ETH maintains its position above $2,950, aligned with the 200-day moving average (MA). Holding this critical support level would signal buyers remain in control, setting up ETH for a potential rally toward $3,500 soon.  However, it’s also possible that ETH could take a few days to build up the momentum needed for its next substantial move as investors assess the recent rally and consider upcoming catalysts. Related Reading: Bitcoin ETFs See Historic Surge – Institutions Go Bullish On BTC With $1.38 Billion Record Inflows In the meantime, the market appears optimistic, with analysts noting that maintaining levels above the 200-day MA is crucial for confirming the long-term bullish trend. ETH’s consolidation phase could be the foundation for continuing its upward trajectory. Featured image from Dall-E, chart from TradingView

Ethereum has reached a new local high at $3,219, marking an impressive 35% surge since last Monday. This rapid rise has ignited strong optimism among analysts and investors, who now see Ethereum as primed for further gains as it begins to show strength against Bitcoin. The rally reflects renewed confidence in ETH’s potential, especially as major stakeholders increase their activity. Related Reading: Cardano Skyrockets Over 40% – Funding Rate Suggests Further Upside Key data from Santiment supports this bullish outlook, highlighting a significant spike in whale transactions. Increased activity among large ETH holders often signals accumulation, suggesting that influential players see the potential for Ethereum’s continued growth. This uptick in whale transactions is typically seen as a precursor to further price appreciation, as it indicates sustained interest from high-volume investors. As ETH continues to rise, analysts are closely watching its performance against Bitcoin, noting that Ethereum’s recent momentum could indicate the beginning of a more sustained uptrend.  Ethereum Bull Phase Starting Ethereum has officially entered a bullish phase after decisively breaking key resistance levels and establishing a positive price structure. Recent data from Santiment confirms this upward trend, as Ethereum is now showing strong growth metrics that suggest further gains may lie ahead.  Whale transaction data points to a significant increase in activity from major stakeholders—wallets holding substantial amounts of ETH—who have actively contributed to Ethereum reaching its highest price in over 14 weeks. In addition to heightened whale activity, Ethereum’s transaction volume has surged, reaching as much as $10.4 billion over the past several days. This volume spike is an encouraging sign of rising demand and sustained interest in ETH at its current levels. Large transactions often signal confidence from institutional players and high-net-worth investors, reinforcing the bullish sentiment around Ethereum as they increase their holdings. Related Reading: Chainlink Hits $13.5 For The First Time Since July – Smart Money Accumulation? Santiment analysts suggest that Bitcoin’s performance during this bull run could serve as a catalyst for Ethereum, with profits likely redistributing from BTC to ETH as market participants diversify into top altcoins. This dynamic has historically benefited Ethereum during strong market cycles, potentially setting the stage for ETH to revisit its previous all-time high. Additionally, Ethereum’s network activity appears robust, another key indicator of sustained growth potential. With increased stakeholder participation, high transaction volume, and a healthy network, Ethereum seems well-positioned for continued upward momentum in the current bullish environment. ETH Testing Fresh Supply Ethereum (ETH) is currently trading at $3,170, showing strength after an aggressive move above the 200-day moving average (MA) at $2,955. This breakout above a long-term resistance level signals that bulls are now firmly in control as ETH reaches new supply zones. Holding above the 200-day MA is a positive indicator for sustaining the bullish trend, as this level often supports price action when breached on an upward move. If ETH experiences a pullback, a drop back to the 200-day MA around $2,955 would represent a healthy retracement, potentially setting the stage for further gains. A consolidation at or near this level would likely attract more demand, supporting a continuation of the uptrend. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH – Time To Buy Altcoins? However, the current strong price action combined with fresh demand entering the market could propel Ethereum even higher without a significant pullback. The momentum ETH is building now may help it break through successive supply levels in the near term, pushing toward higher targets. For now, Ethereum’s upward trajectory is supported by solid technical levels and a market environment increasingly favorable for continued gains. Featured image from Dall-E, chart from TradingView

The strong performance of Ethereum in recent days has caught the attention of experts. In several posts on X, prominent fund managers and industry leaders have projected a bullish outlook for Ethereum (ETH), positioning it to outperform Bitcoin (BTC) with a target price of $8,000. This optimism is underpinned by anticipated regulatory advancements for the decentralized finance (DeFi) ecosystem. Why Ethereum Could Outperform Bitcoin Raoul Pal, Founder and CEO of Global Macro Investor, articulated his perspective on ETH’s potential resurgence in a post that has garnered significant attention within the crypto community. “I’ve been expecting ETH to start gaining lost ground on BTC. It’s partly driven by the risk-taking cycle but it’s also driven by the election,” Pal stated. Pal highlighted two primary factors contributing to ETH’s anticipated outperformance. The first one is the enhanced utility in DeFi: “Utility tokens in DeFi begin to offer yield or reward of underlying protocol which creates network value. Most of this is on ETH,” Pal explained. Related Reading: Ethereum Jumps 10% As DeFi Sentiment Rebounds With Trump’s Victory The second factor is the adoption by Traditional Finance (TradFi). “TradFi will likely begin to build larger use cases but on the most tested, adopted chain. Think of ETH (and the L2’s) as the Microsoft of web3. No one gets fired for using it,” Pal asserted. These developments, according to Pal, are poised to “dramatically re-rate ETH and offset the current retail adoption on other chains,” with the added advantage that ETH yields will attract more institutional players. He emphasized the potential for constructing sophisticated financial products, such as guaranteed funds, under improved regulatory conditions. “With better regs this activity will explode,” Pal concluded. Supporting Pal’s outlook, Dan Tapiero, founder and CEO of 10T Holdings—a growth equity fund specializing in mid-to-late stage investments within the digital asset ecosystem—commented on Pal’s post: “Yup. More eloquent version of what I posted last night. Very funny.” Tapiero referenced his own earlier assertion that “Ethereum too cheap. Gonna explode from here. Gensler and Co killed Defi in the US in ’22-24. Not killed now. Long Live US Defi. Break of $4k going over $8k in the next year.” Related Reading: Ethereum Surges Past $2,500: What The Futures Market Signals For Traders However, Pal also noted a hierarchical adoption landscape within the crypto space, suggesting that while ETH may outpace BTC, it might underperform Solana (SOL) and, subsequently, Sui (SUI). “My view is that ETH begins to outpace BTC for the rest of the cycle but underperforms SOL and SOL underperforms SUI as SUI is in the ultimate performance stage of adoption – early > proven. Let’s see,” he remarked. The discourse around Ethereum’s prospects also attracted engagement from the broader crypto community. A user named Himura (@aceddeca1) proposed an alternative investment thesis: “ETH will be fine but if that is your thesis it would be better spent on UNI especially with Unichain … Uniswap going to own chain is the base token you wish Coinbase would launch.” Pal responded succinctly, “Interesting thought.” Additionally, concerns regarding potential biases were raised by user Galavis (@FedericoGalavis): “Be careful with SUI folks as only 0.82% of the supply has been unlocked. Are you a paid SUI promoter Raoul? If you are you better disclose.” Pal countered, “You need to do more research on all your comments,” addressing the speculation over his impartiality. Notably, Pal serves as a Board Member at the Sui Foundation, a fact that may inform perceptions of his commentary on SUI. At press time, ETH traded at $2,916. Featured image created with DALL.E, chart from TradingView.com

Ethereum has finally surged after breaking through a critical resistance level that had kept the price subdued since early August. This move has shifted market sentiment, as many investors and analysts previously doubted ETH’s potential in the current cycle, expecting it to lag behind. However, Ethereum’s recent strength is starting to reshape these perspectives. Prominent analyst and investor Ali Martinez recently shared insights indicating that while Ethereum’s momentum is building, the much-anticipated “Altseason” hasn’t arrived just yet.  Related Reading: Solana Breaks Above Key Resistance – Top Analyst Sets $300 Target According to Martinez, this stage of the cycle typically sees Bitcoin outperforming Ethereum and other altcoins—a common pattern as BTC often leads market rallies. This dynamic could provide a strategic opportunity for investors looking to enter ETH and other altcoins before the broader market euphoria begins. As Ethereum gains traction, market participants are keeping an eye on further confirmations of its breakout, with many speculating that once Bitcoin’s lead cools, capital may flow more aggressively into altcoins.  Ethereum Waking Up Ethereum is making a remarkable comeback, surging over 22% in just two days of strong upward momentum. While this performance is impressive, key data highlights that Bitcoin is still leading the market, slightly overshadowing Ethereum’s gains. For savvy investors, this could present a prime opportunity to start accumulating Ethereum and select altcoins before they potentially rally in the next phase of the cycle. Ali Martinez, a prominent analyst, recently shared a Glassnode chart revealing insights on the “Bitcoin Altseason Indicator.” This tool compares net capital flows between Bitcoin and Ethereum, showing that while Ethereum is on the rise, Bitcoin’s net capital change is currently outpacing it.  This trend confirms that Altseason—where altcoins outperform Bitcoin—hasn’t begun yet. Martinez points out that such dynamics are typical for this stage, with Bitcoin usually leading the initial rally and Ethereum following shortly after. Related Reading: Bitcoin Indicator Signals Equilibrium After Trump Victory – A Clear Path To New Highs? Historically, Altseason often arrives once Bitcoin’s price momentum stabilizes, as capital flows from Bitcoin into high-potential altcoins. Many seasoned investors recognize this part of the cycle as an ideal time to accumulate ETH and strong altcoins at attractive prices before the broader market shifts its focus. In the coming weeks, the relationship between BTC and ETH performance will be closely watched, potentially setting up a shift in market sentiment and capital distribution. ETH Technical View Ethereum recently surged past a critical resistance at $2,820, breaking above the 200-day exponential moving average (EMA) and touching the 200-day moving average (MA) at $2,955. This marks a significant bullish move, as ETH had been trading below these levels since early August, and reclaiming these indicators is seen as a positive signal for further gains. For the bullish momentum to continue, ETH must break above and sustain itself above the daily MA at $2,955, solidifying this breakout as a foundation for the next phase of the uptrend. However, some analysts suggest that a period of consolidation just below the 200 MA could be beneficial, allowing ETH to gather strength for a more sustained rally. This pause could temper the rising euphoria and avoid overextension in the short term. Related Reading: Ethereum Analyst Shares Correlation With S&P500 – Last Dip Before It Hits $10,000? As the market sentiment turns increasingly optimistic, many investors are eyeing this level closely. Holding above these critical indicators would give bulls more control, potentially setting Ethereum up for a more robust recovery as it targets new highs. Featured image from Dall-E, chart from TradingView

Ethereum (ETH) has jumped almost 20% over the past two days as the broader decentralized finance (DeFi) sector rallied following Donald Trump’s presidential victory. Ethereum Begins To Regain Momentum The second-largest cryptocurrency by reported market cap has lagged behind Bitcoin (BTC) and other smart contract platform tokens like Solana (SOL) for much of the year. Related Reading: Ethereum Analyst Shares Correlation With S&P500 – Last Dip Before It Hits $10,000? However, following Trump’s win as Republican US presidential candidate, ETH has witnessed a rise of over 10% since yesterday. The token’s rise has brought attention to one of Ethereum’s most innovative use cases to date – DeFi. In a long-form post on X, Arthur Arthur Cheong & Eugene Yap from crypto investment firm DeFiance Capital noted that total value locked (TVL) in Ethereum-based DeFi protocols is rebounding. While the analysts credit some of this growth to higher crypto asset prices, they also highlight that trading volumes on some DeFi platforms have “nearly recovered to 2022 levels, proving the resurgence is real.” Cheong and Yap outline several factors that indicate the DeFi ecosystem is heading toward the era of “DeFi renaissance.”  First, the analysts note that DeFi appears to be emerging from the “trough of disillusionment.” For the uninitiated, disillusionment is a phase in the Gartner Hype Cycle when interest in a technology wanes as initial expectations are unmet. As shown in the chart below, DeFi is moving through the “slope of enlightenment” phase, likely headed for the “plateau of productivity” as the technology matures. Additionally, macroeconomic factors, including a low interest-rate environment, are expected to boost DeFi adoption in two critical ways: reducing opportunity costs and making loans more affordable.  With treasury bills and traditional savings accounts offering minimal returns, investors increasingly turn to income-generating DeFi strategies like yield farming, staking, and liquidity mining. Lower interest rates are also likely to increase the supply of stablecoins by making loans cheaper, thereby providing additional liquidity to drive DeFi growth. How Is Trump Presidency Bullish For ETH? The analysis emphasizes that the 2024 US presidential elections can offer DeFi much required regulatory clarity. Trump’s presidency is anticipated to bring more favorable crypto regulations, which could boost investor confidence. Related Reading: Ethereum Risk-To-Reward Ratio Is ‘Too Good To Pass Up’ – Top Analyst Sets $6,000 Target Consequently, ETH is expected to benefit from any increase in investor interest in DeFi. Analysis by crypto experts suggests that ETH could rise to $3,400 if it clears certain key resistance levels. There has also been a significant increase in Ethereum whale activity, indicating that sophisticated and seasoned ETH holders are accumulating the token in anticipation of a potential rally. ETH faces stiff competition from rival smart contract platforms such as Solana. According to a recent report, the SOL DeFi ecosystem saw its TVL increase to $5.7 billion in Q3 2024.  At press time, ETH trades at $2,806, up 7.1% in the past 24 hours, with a total market cap of $338.6 billion. Featured image from Unsplash, Charts from X.com and Tradingview.com

Ethereum has surged over 8% following Donald Trump’s election victory, igniting fresh optimism among investors. Despite this rally, ETH still trades below a crucial resistance level, keeping the price in check since early August.  This resistance, a critical barrier, must be cleared for Ethereum to regain its bullish momentum fully. Analysts are watching closely, with top crypto expert Inmortal sharing a recent technical analysis that suggests Ethereum could be gearing up for a significant breakout. Related Reading: Solana ‘Must Break Descending Resistance’ To Regain Bullish Momentum – Analyst According to Inmortal’s analysis, ETH appears to be building strength, and a push above this resistance could unlock the potential for a sustained rally. The market’s response to Trump’s win, particularly as he is seen as a pro-crypto candidate, has boosted sentiment, and many now anticipate increased volatility and upside for Ethereum.  Investors are now eyeing ETH’s next moves, with any break above the current resistance likely to signal the beginning of a stronger upward trend. As Ethereum inches closer to this key level, market participants are preparing for what could be a defining moment in ETH’s performance this cycle. Ethereum Pushing Key Supply  Ethereum is pushing to break a critical resistance at $2,750, a level that has kept ETH under pressure since early August. This resistance has been a strong barrier; breaking above it is essential for confirming a sustained rally. Top crypto analyst and investor Immortal recently shared a detailed technical analysis on X, where he outlined a $3,400 price target for ETH if it successfully clears this key resistance. In his analysis, Inmortal emphasized that Ethereum, often dubbed the “most hated coin” in the current market, is worth paying close attention to despite its recent underperformance. Many investors have expressed frustration with ETH’s lagging momentum compared to other assets, making a breakout above $2,750 a potential game-changer for sentiment and price action. The coming days will be pivotal as the market digests the impact of Donald Trump’s election victory and prepares for the Federal Reserve’s upcoming interest rate decision on Thursday. Trump’s win has already created bullish momentum across the crypto market, and Ethereum’s breakout could capitalize on this shift in sentiment. However, volatility may remain high, and any unexpected news from the Fed could impact ETH’s trajectory. Related Reading: Ethereum Analyst Shares Correlation With S&P500 – Last Dip Before It Hits $10,000? If ETH can hold above $2,750 and continue pushing higher, the $3,400 target outlined by Inmortal could come within reach, marking a strong recovery phase for Ethereum. For now, the crypto community will be watching closely, as this breakout level can potentially define Ethereum’s performance in the months ahead. ETH Technical Analysis  Ethereum is trading at $2,620 after a solid 12% surge from recent lows at $2,355. This price movement has given bulls hope that a rally may be on the horizon. However, ETH must break above the key $2,750 resistance level for the bullish momentum to continue and reclaim price action.  This level coincides with the 200-day exponential moving average (EMA), a crucial indicator of long-term strength. A breakout above this level and a successful retest would signal a market sentiment shift, confirming that ETH is on track to regain bullish control. The 200-day EMA is often viewed as a significant support level once the price holds above it. If Ethereum manages to close above this level and maintain the price, it could spark further upside movement. On the other hand, if Ethereum fails to break above $2,750 and struggles to hold, it would signal a failed breakout.  Related Reading: Dogecoin Analyst Reveals Buying Opportunities At Lower Prices – Details In such a case, ETH could face further consolidation or retrace to lower demand levels, possibly around $2,500 or even lower. Bulls must remain vigilant as the coming days will be critical for confirming Ethereum’s next move. Featured image from Dall-E, chart from TradingView

Ethereum (ETH) stands at a critical turning point, with opinions split on its future performance this cycle. Some analysts argue that ETH will continue to lag, possibly underperforming against other assets like Bitcoin, which has shown strong momentum. However, others are optimistic, believing Ethereum is poised for an aggressive rally, especially if it can establish a solid bounce from current lows. Related Reading: Bitcoin Open Interest Dropped Significantly – Investors Cautions Amid US Election Week? Renowned crypto analyst Ali Martinez has shared a compelling technical analysis, highlighting a correlation between ETH and the S&P 500. According to Martinez, this relationship could signal a substantial upward move for Ethereum, aligning with broader market trends in traditional finance. Martinez’s analysis suggests that Ethereum could be on track for a major breakout if the current setup holds, with a target around the $10,000 mark. As Ethereum trades near a crucial support level, the coming days will be pivotal in determining its direction. With significant upside potential, if a bullish trend takes hold, this moment may define ETH’s trajectory for the remainder of the cycle. Investors are now watching closely, weighing ETH’s next moves against crypto and traditional market cues. Is Ethereum Preparing To Rally? Ethereum (ETH) has been trading precariously around the $2,400 level, with recent dips below this threshold sparking concern among investors hoping for a bullish breakout. This uncertainty has heightened as traders navigate a market riddled with fear, wondering if ETH is about to embark on a long-awaited rally or fall to new lows. Top analyst and investor Ali Martinez has provided an optimistic outlook, sharing a technical analysis on X that suggests Ethereum’s price movements closely mirror those of the S&P 500. According to Martinez, this dip could be the final one before Ethereum experiences a massive upswing, potentially tripling in value to hit the ambitious $10,000 target.  Martinez’s analysis taps into broader market sentiment, noting that ETH has shown resilience at key levels and that this correlation with the S&P 500 could indicate strength and stability shortly. As the U.S. election results unfold and the Federal Reserve’s upcoming interest rate decision looms, the potential for volatility remains high. These factors could introduce sharp price swings, driving ETH lower temporarily before it rebounds and gains momentum for a sustained rally.  Related Reading: Solana Likely To Target $200 ‘If It Holds Current Support’ – What To Expect The combination of market catalysts and Martinez’s analysis has sparked cautious optimism, suggesting that while the near-term risk is high, Ethereum could be on the verge of a significant breakout if it holds its ground through the coming turbulence. ETH Testing Crucial Demand  Ethereum briefly dipped below the $2,400 mark, a key support level, before rebounding to $2,440. This bounce has given bulls hope, but to maintain upward momentum and challenge the prevailing bearish outlook, ETH must keep rising and target higher supply zones.  Critical to this effort will be breaking above the 200-day exponential moving average (EMA) at $2,758—a level that has consistently pushed down price action and acted as a significant resistance since early August. If bulls succeed in reclaiming this EMA, it could mark a shift in momentum, potentially setting up ETH for a stronger bullish trend. However, if ETH fails to hold above $2,400 in the coming days, it risks a deeper retracement. Analysts have identified the $2,220 level as a crucial line of defense.  Related Reading: Dogecoin Analyst Reveals Buying Opportunities At Lower Prices – Details This lower demand zone could provide the final support necessary to prevent further losses, but if breached, it would likely deepen the bearish sentiment surrounding Ethereum’s current price action. This week will be pivotal, as holding above these key levels could provide ETH with the stability it needs to stage a more aggressive push upwards. Featured image from Dall-E, chart from TradingView

Ethereum is trading at a critical demand level following an 11% pullback from recent local highs. This dip has analysts and investors on edge, as losing this level could trigger a wave of aggressive sell-offs, potentially driving ETH prices lower.  Amid this concern, however, prominent analyst Ali Martinez has shared an optimistic technical analysis, highlighting a strong risk-to-reward setup on the Ethereum chart. According to Martinez, the current level offers a compelling entry point, suggesting that Ethereum could see a significant upside if it holds support. Related Reading: Solana Likely To Target $200 ‘If It Holds Current Support’ – What To Expect The timing of this potential rebound is especially noteworthy with the US election tomorrow, an event that could heavily influence broader market sentiment. Many in the crypto community anticipate that election outcomes will set the stage for a new rally, with Ethereum positioned to capitalize if bullish momentum returns.  In the coming days, all eyes will be on whether ETH can defend this demand zone, as its performance could either validate or challenge the prevailing bullish expectations across the market. For now, Ethereum’s price level remains pivotal, and the market is closely watching for signs of direction amid the election and broader economic uncertainties. Can Ethereum Hold Above Key Demand? Ethereum is trading at a pivotal support level of around $2,450, which many analysts view as a critical “last line of defense” for bulls. Ethereum could experience a deeper decline if this level fails, potentially putting it at risk of underperforming against competitors like Solana or Bitcoin, which have recently shown more relative strength.  Investors share this concern and are closely watching ETH’s movement as it teeters on the edge of this crucial support. However, top crypto analyst Ali Martinez has presented a more optimistic perspective on X, suggesting that Ethereum may be poised for a significant recovery. In his recent technical analysis, Martinez emphasized that the current risk-to-reward ratio for ETH is highly attractive for a long position, especially for those with a longer-term outlook.  He disclosed that he had set a stop-loss below $1,880—a level limiting downside risk—while targeting an ambitious price of $6,000. This target represents a potential 145% rally from current prices, underlining Martinez’s confidence in Ethereum’s potential upside if it can hold this crucial zone. The next few days, or even hours, could prove decisive for Ethereum as it consolidates at $2,450. To move toward Martinez’s target, ETH must build strength and start challenging local highs, signaling buyers are stepping in.  Related Reading: Dogecoin Analyst Reveals Buying Opportunities At Lower Prices – Details The upcoming price action will reveal whether Ethereum can revive its bullish momentum or succumb to further downside pressure. For now, the $2,450 support is a critical threshold for ETH’s near-term trajectory. ETH Technical Analysis Ethereum (ETH) is trading at $2,450 after a strong rebound following a failed breakdown below the $2,400 mark. This resilience is encouraging for bulls who believe ETH is primed for a significant rally, especially if Bitcoin can break above its all-time high.  However, this crucial support level alone isn’t enough to spark a sustained uptrend. Bulls must push the price above the 200-day exponential moving average (EMA), currently at $2,762, to confirm momentum and establish a stronger bullish outlook. The 200-day EMA has acted as a formidable resistance since early August, repeatedly pushing ETH’s price down. A breakout above this moving average would indicate a critical shift, potentially turning it into a new support level. This move would set the stage for ETH to challenge higher levels, fueled by renewed buyer confidence and broader market optimism.  Related Reading: Bitcoin On-Chain Indicator Signals Panic Selling At Current Levels – Time To HODL? Conversely, if bulls fail to reclaim this EMA, Ethereum may face continued downward pressure, leading to further testing of key supports. For now, ETH’s support of around $2,450 keeps hope alive for bulls aiming for a breakout, but reclaiming the 200-day EMA remains essential to fuel the next leg of a bullish rally. Featured image from Dall-E, chart from TradingView

Ethereum is trading at $2,500, following a 9% pullback from recent highs after it failed to establish a higher high above $2,820. This retrace has sparked renewed interest among investors, with top analyst and investor Carl Runefelt sharing a technical analysis that points to a promising setup for accumulation.  Runefelt highlights a bullish pattern emerging in ETH’s price action, indicating that this retracement could be a prime opportunity for long-term holders to accumulate more Ethereum before a potential rally. Related Reading: Bitcoin Consolidates Near ATH – Volume Suggests A Big Move Ahead The coming days will be pivotal for Ethereum as the crypto market closely watches Bitcoin’s attempt to break its all-time highs. Should BTC achieve this feat, it would confirm a new bull run, likely bringing Ethereum.  The crypto community is eagerly waiting to see if Ethereum can hold its ground above $2,400 and eventually surpass resistance at $2,820, potentially setting the stage for higher gains. Ethereum’s current levels and consolidation phase suggest a decisive move could unfold soon, making it a crucial time for ETH’s trajectory in the broader market cycle. Ethereum Sideways Consolidation  Ethereum has been lagging behind Bitcoin and several other altcoins like Solana, which have recently seen more robust price action. This underperformance has drawn attention from analysts and investors alike, including top analyst Carl Runefelt, who recently shared an in-depth technical analysis on X.  Runefelt highlights Ethereum’s current formation around an ascending support level, suggesting that ETH’s current price could present one of the best accumulation opportunities before a potential rally. Runefelt’s analysis points to a crucial ascending support level of around $2,450, which has held steady despite Ethereum’s pullbacks, maintaining a bullish structure. He emphasizes that if Ethereum continues to trend down, this support could be an attractive entry point for long-term investors looking to accumulate ETH while it’s relatively undervalued.  The chart formation suggests a possible price floor, which, if buyers intervene, could catalyze a move toward higher levels. Related Reading: Dogwifhat (WIF) Prepares For A Bullish Breakout – Analyst Sets $3 Target On the upside, Ethereum faces a key resistance at $2,800. Runefelt notes that breaking this resistance could trigger a significant upward move, potentially aligning ETH with broader market trends if BTC breaks into new all-time highs.  If Ethereum successfully clears the $2,800 level, it would confirm the bullish pattern and likely fuel a surge in price action. This breakout could signal that Ethereum is ready to catch up to Bitcoin and outperform altcoins, creating a more favorable outlook for ETH in the broader market landscape. The next few days will be crucial for Ethereum’s trajectory as it continues to hold above the ascending support level. Traders and investors are watching closely to see if ETH can break out of its recent underperformance and reclaim its position as an altcoin leader. ETH Technical Details  Ethereum is trading at $2,505 after a failed attempt to hold above the 4-hour 200 moving average (MA) at $2,530. This slip below the 200 MA has put ETH in a precarious position as it seeks new demand levels to stabilize the recent retrace. The price is nearing a crucial support level, and breaking below this area could trigger a significant correction, adding considerable downside risk to Ethereum’s current price action. For Ethereum to avoid a deeper drop, finding support around the $2,450 mark is essential. If buyers step in and manage to keep ETH above this level, it would signal a positive shift in momentum. An even stronger bullish indicator would be if ETH rebounds and pushes above the $2,550 level, which would help restore confidence in the asset and signal a potential recovery phase. Related Reading: Dogecoin Metrics Reveal Increasing Network Activity – Is DOGE Ready To Break Yearly Highs? Such a move could mark the end of the retrace and position ETH for further upside in the coming sessions. However, until the price finds solid footing, ETH remains vulnerable to further declines, making this a pivotal moment for the asset’s short-term outlook. Featured image from Dall-E, chart from TradingView

Tim Robinson, Head of Crypto Research at BlueYard Capital, has unveiled groundbreaking simulations indicating that Ethereum’s implementation of “blobs” could be exceptionally bullish for the long-term price of ETH. In a series of posts on X, Robinson highlighted how blobs could revolutionize Ethereum’s scalability and economic dynamics. “Many people arguing about blobs, but so far no one has simulated how they respond to demand… until now,” Robinson stated. “TL;DR: Blobs are insanely bullish for ETH long term.” Why Blobs Are ‘Insanely Bullish’ For Ethereum Price Blobs, introduced in Ethereum Improvement Proposal (EIP)-4844, are large data structures designed to enhance the network’s capacity by efficiently storing and processing data off-chain. This mechanism is pivotal for Layer 2 (L2) scaling solutions, enabling them to offer lower transaction fees while maintaining security through Ethereum’s consensus. Related Reading: Ethereum Bullish Signal: Whales Withdraw $750 Million In ETH From Exchanges Robinson’s simulation projects Ethereum operating at 10,000 transactions per second (TPS), burning 6.5% of its total ETH supply annually, with L2 transactions costing an average of $0.06. This scenario involves 16 MB of blobs per block, aligning with Ethereum co-founder Vitalik Buterin’s medium-term goals outlined in his latest “The Surge” post. “Yes, that’s Ethereum operating at 10k TPS, burning 6.5% a year while L2 transactions cost an average of $0.06, with 16 MB of blobs per block,” Robinson elaborated. “You thought L2’s were parasitic and Vitalik didn’t think this through? Ah, sweet summer child, little do you realize how insane this will get when the Ethereum ecosystem really kicks into high gear.” A key insight from Robinson’s research is the rapid escalation of ETH burning as blob usage increases. “It’s interesting how quickly blobs go from being free to burning a ton of ETH. It seems almost everyone doesn’t understand this tipping point. It also makes me think there might be a better pricing mechanism,” he observed. Robinson provides a simulation tool illustrating the ETH burn rate‘s exponential growth as TPS scales from the current ~180 TPS to 400 TPS. The data shows burned ETH increasing from roughly 4 ETH per day to 1,832 ETH per day. It’s interesting how quickly blobs go from being free to burning a ton of ETH. It seems almost everyone doesn’t understand this tipping point. It also makes me think there might be a better pricing mechanism. Here’s what it looks like increasing from today’s ~180TPS to 400TPS pic.twitter.com/fjuK19NL6y — Tim Robinson (@timjrobinson) October 29, 2024 The scalability potential is further enhanced by the implementation of Peer Data Availability Sampling (PeerDAS), which allows blob capacity to scale with the number of validators. “Because total blob capacity scales with total validators, after PeerDAS is implemented, blobs can scale as high as needed,” Robinson explained. “There are 10k+ nodes to shard the load between them. While other ecosystems struggle under load, Ethereum will supply the world with cheap, abundant block-space while being extremely deflationary.” Related Reading: Ethereum Prepares For Potential Rally To $6,000, Analyst Says An intriguing feedback loop identified by Robinson is the inverse relationship between ETH price and the burn rate. “Another interesting feedback loop is the lower the ETH price, the higher the burn! As transaction prices are lower, more transactions are made, and the burn soars,” he noted. “See how different the burn is with ETH at $2k vs ETH at $10k”. Another interesting feedback loop is the lower the ETH price, the higher the burn! As transaction prices are lower, more transactions are made, and the burn soars. See how different the burn is with ETH at $2k vs ETH at $10k: pic.twitter.com/tbSbC6unwM — Tim Robinson (@timjrobinson) October 29, 2024 Addressing the question of value accrual for ETH, Robinson stated, “So how will ETH accrue value? Being the most useful, scarce, deflationary asset with 10,000+ teams using Ethereum to grow their products will probably do it. Long term, ETH has the best fundamentals in the world; it just takes time for them to play out.” The research sparked enthusiasm and discussions within the ETH community. Mat (@materkel) commented on X: “Will be extremely interesting once we hit blob capacity. My guess is a lot of L2s still need to figure out how to handle this case and properly fee their users. There will be a lot of inefficiencies to fix; we just didn’t really have multiple competing L2s in this scenario before. Once the dust settles, we’ll have proper price discovery both for fees on L2s together with blobs on L1.” Robinson responded, emphasizing the importance of proactive analysis: “Yeah, absolutely! I’m trying to bring the data so we can solve any problems before we get there. The market becomes more stable with more blobs, but in the early days, fees could be quite volatile.” At press time, ETH traded at $2,638. Featured image created with DALL.E, chart from TradingView.com

Technical analysis suggests the days of the Ethereum price consolidation might be over very soon. At the time of writing, Ethereum is trading with a 0.07% gain in the past 30 days, which reveals the current consolidation situation it finds itself under.  However, according to a technical analysis on TradingView, the Ethereum price could be well on its way to reaching a new all-time high after 12 weeks of consolidation. Ethereum Price Completes Bottom Formation According to a technical analysis of the Ethereum price in the weekly candlestick timeframe, the cryptocurrency is currently in its 12th week of consolidation after a decline that ended in the first week of August. Interestingly, analysis reveals that the consolidation is at the bottom of the lower trendline in a Channel Up trend in the weekly timeframe that started as far back as June 2022. Related Reading: End Of The Road For Solana? Analyst Predicts 77% Price Crash To $40 Particularly, a close look at this Channel Up trend reveals that the Ethereum price action has been confined between its upper and lower trendlines in the past two and a half years. Fortunately, the trend is a bullish one with the creation of higher highs and higher lows, which suggests a bullish outlook for the Ethereum price. As it stands, the Ethereum price has been on an uptrend since the beginning of the week, essentially reversing last week’s declines. Consequently, the price has flipped from bearish to neutral on the weekly outlook and is now moving towards bullish. The only thing left is for the Ethereum price to keep pushing on this uptrend and flip above the weekly MA50 (50-Day Moving Average). A successful push above this level, according to crypto analyst InvestingScope, would not only signal an end to Ethereum’s prolonged consolidation but also set the stage for a rally toward the channel’s upper trendline. ETH On The Journey To Recording New Highs As it stands, the 1W Relative Strength Index has already crossed over its MA, lending charge to the momentum. All that’s left now is an Ethereum price break above the weekly MA50. A break above the MA50 on the weekly timeframe would confirm the shift from consolidation to bullish momentum, draw in fresh buying interest and open up Ethereum’s path to creating a higher high within the Channel Up structure.  Related Reading: XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline The Channel Up structure is structured in such a way that the creation of a new higher high at this point would necessitate a break above the current all-time high of $4,900. A touch of the upper trendline in the Channel Up would see the Ethereum price peaking above $5,500 before undergoing any major correction. “When that happens, aim for no lower than the All Time High (TP = 4,900),” the analyst said. At the time of writing, Ethereum is trading at $2,631. Featured image created with Dall.E, chart from Tradingview.com

Ethereum co-founder Vitalik Buterin has unveiled “The Splurge,” a comprehensive set of protocol upgrades aimed at addressing a variety of challenges within the Ethereum ecosystem. In his latest blog post titled “Possible futures of the Ethereum protocol, part 6: The Splurge,” Buterin delves into the technical intricacies of upcoming enhancements that seek to propel Ethereum […]

In a spirited response to allegations that the Ethereum Foundation has been irresponsibly selling off its ETH holdings, co-founder Vitalik Buterin firmly denied the accusations on X. In an explanation, Buterin provided detailed insights into the Foundation’s financial practices and its contributions to the ecosystem. The controversy arose after a X user accused the Ethereum […]

Ethereum has experienced a sharp retrace, dropping over 13% since Monday and stirring concerns among investors who had anticipated a breakout. This sudden pullback, which took ETH as low as $2,380 on Friday, has injected a sense of worry into the market, leaving many to question the strength of its recent rally. However, on-chain data from Santiment reveals an intriguing development—whale activity in Ethereum surged to a six-week high just as the price dipped. Related Reading: Dogecoin Liquidity Sweep Signals DOGE Is Ready For A Rally This spike in large transactions suggests potential accumulation by whales, a pattern often viewed as a bullish signal when occurring near key support levels. Historically, significant whale buying during downturns hints at confidence in a future recovery, as these large holders tend to seek undervalued assets with high potential. The next few days will be critical for Ethereum as investors await signs of stabilization or further decline. A solid hold above recent lows could set the stage for a rebound, while a failure to maintain support may reinforce bearish sentiment. For now, all eyes remain on Ethereum’s price movements, as well as on whale behavior, which could provide insights into Ethereum’s direction in the near term. Ethereum Preparing For A Rally? Despite Ethereum’s recent price retracement, sentiment among investors and analysts remains bullish for the near future. According to key data from crypto analysis platform Santiment, Ethereum’s whale activity reached a six-week high as the price declined to $2,380 on Friday.  Historically, such a spike in activity from whales—large stakeholders with substantial capital—signals accumulation. When whales begin to accumulate, it’s often an indicator of renewed confidence, suggesting these key players see long-term value at current prices. While an immediate price rebound isn’t guaranteed, this pattern is encouraging. Major accumulation phases typically happen in periods of price weakness or extended consolidation, laying the foundation for potential upward movement.  Ethereum’s price action has been lackluster in recent months, with ETH struggling to break out despite occasional bullish sentiment. Some analysts suggest this may be due to heavy accumulation dynamics led by institutional or “smart money” investors who gradually increase their holdings during periods of low momentum. Related Reading: Number Of Bitcoin Bulls Increases As Funding Rate Shows Steady Growth – Details As whales increase their activity, it’s a potential sign that Ethereum is gearing up for a stronger move once accumulation is completed. With support from high-cap stakeholders, Ethereum’s price may eventually reflect this renewed confidence.  For now, investors are closely watching for consolidation near key support levels, which could provide the basis for a breakout. If whale accumulation continues in the coming weeks, it could drive upward momentum, validating the long-term bullish outlook shared by many analysts and investors. ETH Price Action Ethereum is currently trading at $2,466 after a pullback from the $2,550 level, indicating a struggle to maintain bullish momentum. This retracement has brought ETH closer to its recent local lows but still within a sideways pattern, preserving a slightly bullish outlook as it hovers above key support areas. For Ethereum bulls to regain control, a push above $2,550 is critical. Breaking this level would signal renewed strength and allow ETH to target the 200-day exponential moving average (EMA) at $2,783. Achieving this would mark a new local high, potentially reinforcing bullish sentiment among investors. However, if Ethereum’s price fails to rise in the coming days, the likelihood of prolonged consolidation or even a deeper correction increases. Such a scenario would likely introduce additional bearish pressure, with ETH potentially revisiting previous support levels as traders reassess the market’s direction.  Related Reading: On-Chain Indicator Signals Bitcoin Cycle Top Is Far Ahead – Data Confirms Bullish Outlook For now, Ethereum’s price action is delicately balanced, with the $2,550 level and the 200-day EMA representing crucial milestones for bulls aiming to sustain an uptrend in the near term. Featured image from Dall-E, chart from TradingView

The Bitcoin and Ethereum price have crashed in the last 24 hours, dropping below $67,000 and $2,500, respectively. This price crash came following news about the alleged investigation into the USDT issuer Tether. Meanwhile, Israel’s attack on Iran was also a contributory factor.  Why The Bitcoin And Ethereum Price Crashed The Bitcoin and Ethereum price […]

A top crypto analyst has issued a bold prediction for Ethereum, forecasting it will outperform both Bitcoin and Solana in the coming months. Taking to social media platform X, a crypto analyst known pseudonymously as @IamCryptoWolf highlighted that Ethereum is still bullish, with price targets reaching up to $12,000. This analysis comes in light of a 6.22% decline in the price of Ethereum in the past seven days and a continued increase in the Bitcoin dominance. Analyst Says Ethereum Will Outperform Bitcoin Ethereum has mostly lagged behind Bitcoin in price performance since the current market cycle began, struggling to gain momentum above the $3,000 mark since July. Ethereum bulls have faced challenges in attracting significant inflows, which has kept the price below key levels while Bitcoin has surged.  Related Reading: Bitcoin Whale Numbers Return To January 2021 Bull Market Levels, Is A New ATH Coming? Bitcoin recently climbed back above $67,000 and is now approaching its yearly high of $73,737.  Solana has also found its way above $170 again and could continue on the momentum to break above its yearly high of $202. However, despite Ethereum’s underperformance relative to these two crypto heavyweights, crypto analyst @IamCryptoWolf believes the trend is going to reverse in the second half of the cycle. The analyst provided his Ethereum outlook in reference to its price movements on the 3-day candlestick chart. The chart shows Ethereum rebounding off the bottom trendline of an ascending triangle, indicating the potential for an upward move. Consequently, the analyst projected a full breakout of multiple price resistances when the momentum finally rolls into Ethereum. Should this breakout occur, @IamCryptoWolf predicts Ethereum will surpass Bitcoin and Solana in performance during the second half of this bull cycle. He further noted a price target range for Ethereum’s surge, placing the lower boundary at $8,428, with a high-end target reaching up to $12,000. This projected breakout has sparked renewed interest in Ethereum’s ability to regain a leading position, especially among investors who are still waiting for an altcoin rally phase led by Ethereum. What’s Next For ETH? At the time of writing, Ethereum is trading at $2,472, having lost about 3% of its value in the past 24 hours. This sort of performance has left many ETH investors feeling uncertain about the asset’s near-term outlook. According to data from IntoTheBlock, about 51.40% of addresses that bought in between $2,106.27 and $2,855.96 are in losses, not to talk of those that bought above $2,855.96.  Related Reading: Bitcoin Price Retests Bullish Channel At $65,000, Analyst Reveals What’s Next Interestingly, @IamCryptoWolf addressed this trend among ETH investors in another post on social media platform X. Here, he highlighted that Ethereum is still bullish despite the underperformance. The analyst explained that Ethereum’s current price movement appears to be forming either an inverted head and shoulders or an ascending triangle pattern on the charts, both of which are traditionally seen as bullish formations in technical analysis. Featured image created with Dall.E, chart from Tradingview.com

In a post published on October 23, Ethereum (ETH) co-founder Vitalik Buterin shared details about ‘The Verge’ upgrade, which aims to make it easier to run validator nodes. New Ethereum Upgrade To Make Running Nodes Easier Buterin highlighted several issues currently facing the Ethereum network, particularly the high resource requirements needed to run Ethereum nodes. Related Reading: Ethereum Demand Driven By Use In On-Chain Applications, Token Transfers: CoinShares According to research from Paradigm, an Ethereum client needs to store “hundreds of gigabytes of state data” to verify transaction blocks. Further, this data requirement increases by almost 30 GB every year, leading to fewer entities being able to run validator nodes. Through ‘The Verge’ upgrade, running nodes can be made more accessible and less resource-intensive by leveraging two key innovations – stateless clients and cryptographic SNARKs (Succinct Non-interactive Arguments of Knowledge). The uninitiated, stateless clients function as fully-verifying nodes without the intensive hardware requirement associated with typical Ethereum blockchain clients.  Specifically, stateless clients only need a few gigabytes of storage, in contrast to the current requirement of over 1 terabyte (TB), which makes running a full node considerably resource-intensive. Buterin posits that stateless verification will “make fully-verifying the chain so computationally affordable that every mobile wallet, browser wallet, and even smart watch is doing it by default.” By reducing storage needs, stateless clients can democratize network participation, lowering entry barriers – especially for solo stakers – and enabling more entities to secure and validate transactions on the Ethereum network. Buterin Encourages Solo-Staking By Lowering Requirements Buterin has recently emphasized the importance of making Ethereum solo staking more accessible by lowering entry barriers, such as the minimum amount of ETH required to stake and reducing bandwidth demands. Related Reading: Ethereum Proposal EIP-7781 Promises Network Performance Boost – Here’s What To Expect Additionally, Buterin discussed the advantages of SNARKs in strengthening cryptographic verification and defending against the potential threat of quantum computing. SNARKs are sophisticated cryptographic proofs that enable users to verify blockchain data without downloading all its data. “Download some data, verify a SNARK, done,” Buterin summarizes.  In the detailed blog post, Buterin also shed light on the Ethereum Improvement Proposal (EIP) 4762, which deals with stateless gas cost changes in the context of stateless verification. EIP-4762 seeks to adjust gas fees for resource-intensive cryptographic operations to maintain Ethereum network scalability and security. The proposal also introduces ‘multidimensional gas’, which charges different gas fees for call data, computation, and state access functions. Ethereum’s native token, ETH, has attracted increased institutional interest as the smart contract platform’s adoption grows. A recent survey shows that nearly 70% of institutional investors are involved in ETH staking. Despite the overall bullish outlook for Ethereum’s future, this optimism has not yet translated into significant price movement for ETH. Nevertheless, long-term ETH holders remain confident in the token’s long-term potential. At the time of writing, ETH is trading at $2,526, up 1.7% in the past 24 hours. Featured image from Unsplash, Chart from Tradingview.com

Ethereum (ETH) trades above $2,600 after a 5% retrace from local highs around $2,750. Over the past two weeks, ETH has maintained a bullish trajectory, sparking optimism across the market as investors look for further signs of strength in the price action. Top analyst and investor Carl Runefelt recently shared a technical analysis, highlighting that Ethereum has broken out of a bullish pattern that began forming in early August. According to Runefelt, once ETH confirms solid demand around its current level, it’s only a matter of days before the next rally kicks off. Related Reading: Solana Could ‘Go Parabolic’ Starting Today – Analyst Sets $370 Target With the broader crypto market gaining momentum, Ethereum is positioned to continue climbing, and investors are closely watching for confirmation of support at this key level. If ETH holds, the next leg up could be targeting higher price zones, adding to the bullish sentiment. The coming days will determine whether Ethereum can resume its upward trend and capitalize on the ongoing market strength. Ethereum Pushing Above $2,600 Ethereum has underperformed compared to Bitcoin this year, leaving many investors concerned as the next bull run approaches. While Bitcoin has surged, Ethereum has struggled to rally with the same strength. This has sparked worry among ETH holders, who expected the second-largest cryptocurrency by market cap to lead the charge. Top analyst Carl Runefelt recently shared a compelling analysis on X. The analysis features a price chart that reveals Ethereum breaking out of a symmetrical triangle on the daily timeframe—a classic bullish pattern.  If price action holds, it could send ETH to $3,400, according to Runefelt’s analysis. This breakout is a key signal for Ethereum, but its sustainability depends on whether the price can successfully retest the upper triangle line, which had previously acted as resistance. Currently, Ethereum is testing support at this critical level, with $2,600 being the line in the sand. A close below $2,600 would invalidate the symmetrical triangle’s bullish thesis and could lead to further downside, putting a dent in the optimism surrounding ETH’s future price action.  Related Reading: XRP Network Activity Surges As Price Seeks To Break $0.55 Resistance However, if Ethereum holds above this level, it could signify that the breakout is intact, setting the stage for a strong rally as the broader market prepares for a bull run. The next few days will be crucial for ETH’s trajectory. Price Action: Technical Levels To Watch  Ethereum is at $2,620 after failing to reclaim the 200-day exponential moving average (EMA) at $2,795. The price is testing support around the crucial $2,600 level, which will determine the direction of ETH’s price action in the coming days. If Ethereum holds above this level, the next target would be back above the 1D 200 EMA at $2,800. This is a crucial price zone as it aligns with ETH’s local high set in late August at $2,820. A successful breakout above $2,800 would signal a strong bullish continuation, making a push toward higher levels imminent. However, if ETH fails to consolidate above $2,600, the risk of a retracement to lower demand zones becomes increasingly likely.  Related Reading: Dogecoin Breaks Above $0.12 Level – Time For DOGE To Catch Up? Traders and investors closely watch these levels as Ethereum seeks to regain momentum amid broader market uncertainty. The next few days will be critical in determining whether ETH continues its upward trend or faces further downside pressure. Featured image from Dall-E, chart from TradingView

Ethereum is testing a key resistance level around $2,640, and many analysts believe that breaking this point could trigger a significant surge in price. As the entire crypto market gains strength, optimism is growing among investors, who are eagerly waiting for Ethereum to catch up with Bitcoin’s recent rally.  The sentiment is positive, and traders are closely watching to see if ETH will make its move soon. Top analyst and investor Carl Runefelt has shared a technical analysis highlighting an optimistic outlook for Ethereum in the coming days. He believes that a successful breakout above $2,640 could push ETH to much higher levels, aligning with the market’s overall bullish trend.  Related Reading: Bitcoin Whales ‘Grew Substantially’ During Last Dip, Data Shows Large-Holder Accumulation As the market strengthens, the next week will be crucial, not just for Ethereum but for the entire crypto space, as investors prepare for what could be the start of a new rally. With key resistance being tested and momentum building, Ethereum’s next move will likely set the tone for its performance in the short to mid-term. Investors and analysts are keeping a close watch, as the outcome of this resistance battle could determine the direction of Ethereum’s price action in the near future. Ethereum Needs A Clean Breakout Ethereum looks ready for a significant rally, with price action suggesting a move to new highs. The market is buzzing with excitement as greed rises and bullish momentum takes hold, pushing ETH toward a potential breakout.  After weeks of accumulation, Ethereum is now flirting with breaking out of a bullish pattern, setting the stage for a possible surge. Top analyst and investor Carl Runefelt has shared his technical analysis on X, highlighting that Ethereum needs a clean breakout from its current ascending triangle pattern. According to Runefelt, the upside target is $2,800, which marks the last major resistance level from the two-month accumulation phase ETH has experienced. A successful breakout from this key structure would signal the start of a potential rally, fueling optimism across the market. Runefelt also emphasized the importance of this lower timeframe price action, calling it crucial for Ethereum’s long-term development. Breaking above $2,800 could open the door to even higher levels, aligning ETH with the broader bullish sentiment seen across the crypto market.  Related Reading: Solana Struggles To Break $160 Resistance As Top Analyst Predicts A Coming Surge With the bullish sentiment continuing to build, traders and investors are watching closely, anticipating whether ETH will finally catch up to Bitcoin’s recent rally and set a course for new highs. Key Levels To Watch  Ethereum is trading at $2,640 after six days of choppy price action, just below the key $2,650 resistance level. A breakout above this level is essential for bulls to regain momentum, followed by a reclaim of the 200-day exponential moving average (EMA) at $2,797.  However, there remains a risk that ETH could fail to break through this resistance, leading to a search for liquidity in lower demand zones. If the price cannot clear $2,650, a deeper retrace might occur as the market seeks support.  Despite this risk, as long as Ethereum holds above the $2,500 mark, the broader bullish outlook remains intact, giving hope to investors expecting an eventual rally. Related Reading: Cardano Bullish Pattern Suggests A Breakout – Can ADA Reach $0.54? In the coming days, Ethereum’s ability to break through these resistance levels will be crucial in determining whether it will continue its upward trajectory or face a temporary setback. The market remains cautiously optimistic, with traders watching closely for a decisive move above key resistance to confirm the next phase of the rally. Featured image from Dall-E, chart from TradingView

All eyes are on Ethereum as the crypto market watches closely following Bitcoin’s recent surge. Analysts and investors are now cautiously waiting for Ethereum to catch up, with some fearing that ETH’s performance in this cycle may fall short of expectations.  Related Reading: Solana Targets $160 Resistance As TVL Hits New Yearly Highs Recent price action for Ethereum has shown signs of strength, giving investors confidence that a potential breakout could be near. Ethereum is currently trading within a bullish pattern that, if broken, could lead to a massive surge in the coming weeks.  With Bitcoin leading the way and market momentum building, ETH could be poised to follow, unlocking new gains and potentially signaling the start of a powerful rally for the altcoin.  Investors are closely watching for signs that Ethereum will break free from its consolidation and begin to climb, as it remains one of the most closely monitored assets in the market. Ethereum Flirting With A Surge Over the past few weeks, Bitcoin has surged, leaving investors eagerly waiting for Ethereum to follow suit. Top analyst and investor Carl Runefelt has shared his technical analysis on X, highlighting a bullish pattern emerging on Ethereum’s 1-hour price chart. Runefelt’s analysis points to an ascending triangle formation, which is generally a bullish indicator. According to him, if Ethereum manages to break above this pattern, a rapid surge to $2,870 could be imminent.  This price level represents a key target for Ethereum, as it signals a strong upward move and confirms that the altcoin is catching up with Bitcoin’s recent performance. However, there are still risks that Ethereum could continue to trade sideways if it fails to break the current resistance level. In that case, ETH could remain trapped in consolidation for a longer period, which would cause further frustration among investors hoping for a rally.  Related Reading: On-Chain Metrics Reveal Bitcoin Demand Is Growing – Can BTC Break ATHs In Q4? Despite these risks, market conditions favor Ethereum’s potential breakout as bullish sentiment grows. Analysts are watching closely, anticipating that Ethereum’s moment to surge could come soon, setting the stage for significant gains. Price Levels To Watch Ethereum (ETH) currently trades at $2,624 after three days of uncertainty and volatility. The price recently surged by 10% from the $2,400 area, showing signs of strength, but now faces a crucial resistance level.  For the bulls to regain momentum, Ethereum needs to push above the current price and reclaim the 200-day exponential moving average (EMA), which is $2,800. This significant level would signal that ETH is back on track for further upside, potentially catching up with Bitcoin’s recent gains. However, if Ethereum fails to break above this key resistance and reclaim the 200-day EMA, it risks entering a sideways consolidation phase. A failure to hold current levels could lead to a retrace, with support likely around the $2,450 mark.  Related Reading: Ethereum Could Target $3,400 Once It Breaks Above Bullish Pattern – Details Traders and investors are closely watching the price action as Ethereum’s next move will determine whether it can break free from its current uncertainty or continue to face resistance in the coming days. As the broader crypto market remains volatile, Ethereum’s ability to hold key levels will be critical for its near-term outlook. Featured image from Dall-E, chart from TradingView

Ethereum (ETH) has surged above $2,500, now testing a critical supply level that could spark a massive rally for both ETH and altcoins.  After several days of anxiety and uncertainty, yesterday’s market surge has reignited optimism across the crypto space. Investors and traders are closely watching Ethereum’s price action, as a break above this crucial zone could signal the start of a significant upward trend, potentially setting the stage for an Altseason. Related Reading: Dogecoin Buy Signal Hints At Upside As Funding Rate Keeps Rising Top analysts and investors await confirmation that ETH is poised to rally soon. Carl Runefelt, a well-known analyst and investor, has shared his technical analysis on Ethereum, suggesting that the long-awaited rally may be just around the corner.  According to Runefelt, ETH’s breakout from the current supply zone could lead to a substantial price surge, attracting bullish momentum for Ethereum and a broader range of altcoins.  The next few days are critical for Ethereum’s price action as the market awaits signals that could define the direction of this potential rally. Investors remain optimistic, anticipating that ETH could lead the market into its next major bullish phase. Ethereum Testing Crucial Supply Ethereum has been trading within a bullish triangle formation since early August, and the moment of truth for a potential breakout may be close.  ETH has underperformed BTC throughout the year, causing many investors and traders to question ETH’s strength during this cycle. This trend led to a shift in confidence as Bitcoin continued to dominate, leaving Ethereum behind.  However, during yesterday’s market pump, Ethereum showed renewed strength, outperforming Bitcoin for the first time in a while, signaling a possible shift in market dynamics. Prominent crypto analyst Carl Runefelt recently shared a technical analysis on X, highlighting Ethereum’s imminent breakout from the bullish triangle pattern.  According to Runefelt, Ethereum is approaching a key moment, and a breakout from this pattern could lead to a major rally. He suggests that once ETH breaks through, the next supply zone to target is around $3,400, representing a significant upward move from current levels. Related Reading: Solana Will Target New ATHs Once It Breaks $160 Resistance – Analyst This optimistic outlook comes from renewed positive sentiment across the market and Ethereum’s improved price action. Traders and investors are closely watching the next few days, as a successful breakout could mark the beginning of Ethereum’s long-awaited bullish trend and re-establish its strength relative to Bitcoin. ETH Technical Levels To Watch Ethereum is trading at $2,611 after a notable 7% surge yesterday. This upward momentum allowed the price to break past the $2,500 mark, a critical resistance level pushing the price down since the beginning of October. Now, Ethereum is less than 8% away from the 200-day exponential moving average (EMA), currently at $2,806. For bulls to gain control and establish a sustained uptrend, ETH must reclaim this 200-day EMA and close above the $2,800 level. Doing so would signal a continuation of bullish momentum and set the stage for a potential rally to higher price levels. On the other hand, if Ethereum fails to hold above the $2,500 support level, a deeper correction may be on the horizon. In that case, the price could return to $2,300, where stronger demand may help stabilize the market. Related Reading: XRP Will Jump 75% If It Holds Current Demand Level – Details The next few days are crucial for Ethereum, as traders and investors are watching closely to see whether the price can hold its recent gains and break through key resistance levels. Featured image from Dall-E, chart from TradingView

An analyst has explained how Ethereum could see a run toward the $6,000 level if this historical pattern continues to hold for the asset’s price. Ethereum Ascending Channel Could Reveal Its Next Destination In a new post on X, analyst Ali Martinez has discussed a pattern that the 1-week price of Ethereum has potentially been following during the last couple of years. The pattern in question is the “Ascending Channel” from technical analysis (TA), which is a type of Parallel Channel. In a Parallel Channel, the asset consolidates between two parallel trendlines, with the upper level connecting successive tops and the lower bottoms. Related Reading: Solana Extends Rally By 4%, But This Factor Could Lead To A Top These two levels are slopped upwards in the case of an Ascending Channel, as already hinted at by its name. Thus, an Ascending Channel only forms when the asset sets higher highs and lows. The lower level of the pattern can support the price, while the upper one may act as resistance. If either of these levels break, the asset could see a continuation of trend in that direction; a surge above the top line can be a bullish sign, while a drop under the bottom line can foreshadow a bearish outcome. There is also another type of Parallel Channel, called the Descending Channel, which works much in the same way as the Ascending Channel, except for the fact that it points downwards. Now, here is the chart shared by Martinez that shows the Ascending Channel that the 1-week Ethereum price could be trading inside right now: As displayed in the above graph, the 1-week Ethereum price has recently been retesting the bottom level of this potential Ascending Channel pattern. The analyst has highlighted what happened the last few times that the coin made a retest of this line. “Every bounce off this channel’s lower boundary has historically led to an average 130% price increase for Ethereum,” notes Martinez. Thus, if the Ascending Channel continues to hold for the cryptocurrency, it could benefit from another surge shortly “If this pattern holds, a similar move could push ETH to $6,000—provided the $2,300 support level stays intact,” says the analyst. This support level naturally corresponds to the channel’s bottom line, a drop beyond which could potentially invalidate the formation. Related Reading: Bitcoin Whales Are Going Through A ‘Generational’ Shift, CryptoQuant CEO Reveals Given this pattern forming in its weekly chart, It remains to be seen how the Ethereum price will develop in the coming months. ETH Price Ethereum has enjoyed a sharp 7% rally during the past 24 hours, which has taken its price above the $2,600 mark. Featured image from Dall-E, charts from TradingView.com

Ethereum has largely exhibited a sideways movement between $2,500 and $2,350 in the past seven days. This sideways movement has yet to give rise to a clear path as to how the crypto performs moving forward, denting the sentiment of many bulls.  In an interesting analysis with the use of the TD Setup, crypto analyst Ali Martinez highlighted a critical price point for investors to watch on the ETH price trajectory. At the heart of this analysis is the $2,250 price point, a level that could be the line between a bullish recovery and a steep correction. ETH Price Must Hold $2,250 The TD setup is very popular among crypto analysts and investors. Historically, Ethereum has shown a clear reaction after breaking above or below the TD setup. Its reliability in pinpointing key reversal points has made it a go-to tool for analysts like Ali Martinez.  Related Reading: Second XRP ETF Filing Hits The Market, How Did The XRP Price Respond? Using an ETH/US Dollar price chart that he shared on social media platform X, Martinez noted that the TD Sequential has made or broken the cryptocurrency’s price action in the past while also highlighting notable examples. Each time the ETH price broke above the TD setup resistance trendline, a strong bull run has always followed. On the flip side, when ETH dipped below the setup’s support line, it corrected by an average of 53%.  The first significant breakout above the TD setup resistance triggered an 8,885% surge, which saw the ETH price reach an all-time high of $1,138 at the time. Conversely, the first time the ETH price broke below the TD setup, it corrected by 56.67%. The latest break above the TD setup occurred in March of this year, which saw the ETH price surge by about 113% as it crossed above $4,000 for the first time in two years.  Recent price dynamics puts the TD setup around $2,250. According to Ali Martinez, breaking below this price point could trigger a significant price drop. If a historical 53% average were to repeat itself, Ethereum could correct to as low as $1,100.  Current Market Snapshot As of the time of writing, Ethereum is trading at approximately $2,410, roughly 7% above the critical $2,250 threshold identified by the TD setup. While the ETH price has managed to stay above this level for now, its proximity to this key price level makes it a critical level to watch.  Related Reading: Bitcoin Price Flashes Fractal Similar To October 2023, Here’s What Happened Last Time The TD sequential indicator identifies potential points of exhaustion in an asset’s trend, whether bullish or bearish. Therefore, a break below $2,250 could mean the final reversal from a bullish Ethereum to a bearish sentiment.  Market sentiment towards Ethereum remains mixed at the moment. Sellers currently have the upper hand, but a break above $2,500 could set the path for a bullish momentum. Featured image created with Dall.E, chart from Tradingview.com

Analysts at British multinational bank, Standard Chartered have predicted that the price of Ethereum (ETH) could potentially climb to $10,000 in response to the anticipated political changes set to take place following the upcoming United States (US) Presidential elections. Standard Chartered Predicts Ethereum To $10,000 In a research note by the head of Standard Chartered crypto research, Geoffrey Kendrick, Ethereum could experience a dramatic rise to $10,000 if Donald Trump, the former US President wins the upcoming election.  Related Reading: Bitcoin Price Turns Green In October Once Again, Is The Bull Run Here? Delving into the potential impact of a Trump administration on the future of the digital asset industry, Kendrick predicts that both Ethereum and Solana (SOL) will outperform Bitcoin (BTC) significantly, reaching new all-time highs. The report posits that changes in a country’s political regime tend to have a significant influence on the trajectory of leading digital assets over time.  Based on this observation, Kendrick expects Solana to significantly outperform Ethereum under a Trump regime. While Ethereum will witness significant growth and possibly maintain its rank as the top altcoin with the largest market capitalization, a Trump win could change the market dynamics, potentially triggering even higher gains and adoption for its competitor, Solana.  On a different note, if the current US Vice President, Kamala Harris wins the upcoming elections, Kendrick’s report projects that Ethereum could surge to $7,000, marking a 30% or $3,000 drop from the projected $10,000 target under a Trump administration. However, under Harris’s leadership, Ethereum will solidify its position as the leading altcoin, potentially outperforming Bitcoin and Solana in gains.   It’s important to note that Standard Chartered has cut down its earlier forecast for Ethereum by nearly 50%, underscoring the volatility and unpredictability of the market. In an earlier report, the multinational bank had predicted that Ethereum could reach $14,000 by 2025, driven by the approval of Spot Ethereum ETFs.  Although Spot Ethereum ETFs have gained said approval and are now trading, Ethereum’s price remains significantly below $3,000. Nevertheless, the results of the US Presidential elections scheduled for November 5, could have a more bullish impact on Ethereum, potentially triggering a massive run to new highs.  ETH Faces Drop To $1,600 If Key Support Fails While market experts deliver optimistic projections for Ethereum’s price, a prominent crypto analyst, Ali Martinez has taken a more bearish stance, predicting a significant decline for this altcoin if it fails to hold a crucial support level.  Related Reading: Cardano Price Prediction: Analyst Forecasts ADA Price Rocket To $5 In an X (formerly Twitter) post on Monday, Martinez disclosed that if Ethereum can stay above the $2,300 support threshold, its price could breakout to new all-time highs of $6,000. On the other hand, if the top altcoin fails to maintain this level, it could trigger a massive drop to the next support at $1,600.  As of writing, the price of Ethereum is trading at $2,432, and a decrease to $1,600 would represent a massive 34.21% plunge for the cryptocurrency.   Featured image created with Dall.E, chart from Tradingview.com

Ethereum Improvement Proposal (EIP) 7781 aims to reduce Ethereum network slot times, expand blob capacity, enhance decentralized exchange (DEX) performance, and lower gas fees.  What Is Ethereum Improvement Proposal – 7781?  EIP-7781 has garnered attention from the Ethereum (ETH) community due to its potential impact on the smart contract platform. Proposed by Ben Adams, co-founder of Illyriad Games, the new EIP promises several benefits, including reducing network slot times from 12 seconds to eight seconds, resulting in a 33% increase in transaction throughput without a corresponding rise in data blob counts. Related Reading: Vitalik Buterin Proposes A Privacy Fix for Ethereum For the uninitiated, data blob counts in Ethereum refer to the number of chunks of data included in a block for future use by rollups or layer-2 scaling solutions. These blobs help offload data storage and processing from the base Ethereum network, reducing congestion and improving scalability. EIP-7781 also aims to distribute network bandwidth more evenly, effectively lowering peak bandwidth requirements without sacrificing network efficiency. In his proposal, Adams explains: This would be equivalent to increasing blob count from 6 to 8 or gas limit from 30M to 40M; however this approach does not increase peak bandwidth. Commenting on the proposal, Ethereum Foundation researcher Justin Drake said he supports reducing slot times to eight seconds. Drake added that the proposal would help DEXes like Uniswap v3 become 1.22 times more efficient, saving approximately $100 million in CEX-DEX arbitrage annually, resulting in better user trade execution. Similarly, Pseudonymous developer Cygaar shared their thoughts on EIP-7781, saying, if approved, the proposal can increase Ethereum’s throughput by as much as 50%. The developer also confirmed that the proposal would help lower Ethereum gas fees. However, Cygaar cautioned that reducing slot times should not come at the expense of significantly increasing hardware requirements for solo validators.  To clarify this concern, shorter block times could cause the Ethereum blockchain’s data to grow more rapidly, requiring stronger hardware and faster internet to keep up with the quicker updates. This could present challenges for solo stakers and node operators. EIP-7781 Raises Concern For Solo Stakers While EIP-7781 promises to address several of the current challenges on the Ethereum network, there are concerns about its impact on solo stakers. Related Reading: Ethereum Inflation Surge Casts Doubt On “Ultrasound Money” Claim: Report For instance, Cinnehaim Ventures partner Adam Cochran noted that the proposal “seems reasonable in terms of bandwidth on solo stakers” as long as the gas limit per block remains unchanged. Cochran added: Would want to see some tests on I/O hardware and staker return ping times to make sure it doesn’t cut off some home stakers but, it seems like it should be within range for most. It should be recalled that recently, Ethereum co-founder Vitalik Buterin advocated lowering the ETH requirement for solo stakers from 32 ETH to 16 or 24 ETH.  Buterin stressed the importance of solo stakers in securing the Ethereum network, suggesting that an increased proportion of solo stakers could provide an extra layer of protection against network attacks. At press time, ETH trades at $2,469, up 1.7% in the last 24 hours. Featured image from Unsplash, chart from Tradingview.com

Ethereum (ETH) currently trades approximately 11% below its local highs of around $2,730. Investors are optimistic about a potential price surge in the coming days, driven by encouraging on-chain data. Key metrics from Glassnode indicate a decline in ETH inflows into exchanges, suggesting that investors are holding onto their assets rather than selling. This trend typically points to increased accumulation and could foreshadow a bullish breakout. Related Reading: Chainlink (LINK) Bullish Pattern Could Ignite A Breakout: Analyst Sets $15 Target As the broader crypto market evolves, Ethereum investors remain vigilant, anticipating a bullish reclaim that could propel prices higher. The decrease in exchange inflows could signify that traders are positioning themselves for a potential upward movement, as they seem more inclined to retain their holdings during this crucial phase. Should Ethereum successfully break above critical resistance levels, it could reignite bullish momentum and attract further investment. The next few days will be pivotal for ETH, as traders closely monitor price action and on-chain metrics for signs of a resurgence. With the right conditions, Ethereum may set its sights on new highs, reinforcing the overall positive sentiment in the market. Ethereum Exchanges’ Net Position Change Decreases Ethereum (ETH) is currently at a crucial price level following a 15% dip from its local highs. The broader crypto industry is brimming with anticipation for a massive rally after the Federal Reserve’s decision to cut interest rates a couple of weeks ago. However, despite the optimistic outlook, prices have struggled to climb higher, leaving many investors on edge. Fortunately, on-chain data from Glassnode suggests a reduction in selling pressure, which could improve market sentiment and pave the way for a potential ETH rebound. One key metric to consider is the Ethereum Exchanges’ Net Position Change indicator, which has been downward since mid-September. This indicator tracks the flow of ETH into and out of exchanges, and its recent decline signifies that inflows have dropped significantly. Lower inflows typically indicate reduced selling pressure, as fewer investors are moving their assets onto exchanges to sell. This shift in momentum reflects a positive change in market sentiment, suggesting that investors may be less inclined to liquidate their positions at current price levels.  As selling activity decreases, Ethereum could gain some much-needed breathing room to recover from its recent decline. Related Reading: Solana (SOL) Holds Above $140 As Funding Rate Signals Bullish Momentum Moreover, increased confidence among investors might lead to upward price movement in the coming days. Ethereum may be positioned for a resurgence if this trend continues, potentially setting the stage for a bullish breakout as market dynamics shift in its favor. As traders remain vigilant, all eyes will be on ETH to see if it can capitalize on this improved sentiment and regain upward momentum. ETH Testing Crucial Supply Levels  Ethereum (ETH) is trading at $2,448 after facing rejection at the 4-hour 200 exponential moving average (EMA) at $2,516. The price also struggled to maintain momentum above the 4-hour 200 moving average (MA) at $2,458, indicating a critical moment for ETH. If Ethereum fails to reclaim both of these key levels in the coming days, it may be at serious risk of dropping towards the $2,200 area, potentially triggering a deeper correction. Conversely, if ETH manages to break above and hold these crucial indicators, it could signal a bullish trend reversal, opening the door for a surge toward the $2,700 resistance area. The outcome in the next few days will be vital for determining Ethereum’s trajectory. Related Reading: Dogecoin Could Target $0.20 Soon, Analyst Predicts – Is DOGE Primed For A Rally? Traders and investors will closely monitor these levels, as the ability to reclaim them could provide the momentum needed for ETH to regain strength and attempt to test higher price levels. The current price action reflects the uncertainty in the market, making it imperative for ETH to assert itself decisively to inspire confidence and drive a rally. Featured image from Dall-E, chart from TradingView