Ethereum is on the verge of reclaiming the $4,000 level as it inches closer to its all-time highs. The second-largest cryptocurrency by market cap has faced skepticism throughout this cycle, with some analysts predicting it would underperform compared to its previous bull runs. However, Ethereum has surprised doubters, steadily climbing in recent weeks despite market uncertainty. Related Reading: ONDO Exchange Inflows Grow – Volatility Ahead? Key on-chain metrics from Glassnode reveal an important trend that could fuel further price gains: Ethereum whales have been accumulating aggressively since late November. This signals growing confidence among major holders, who are positioning themselves for potential upside. Historically, whale accumulation has often preceded significant price moves, hinting at the possibility of a breakout in the near term. While the market remains divided on Ethereum’s trajectory, its ability to sustain upward momentum near the $4,000 mark will likely define its performance in the weeks ahead. Breaking above this critical resistance could open the door to new highs and further solidify ETH’s role as a leader in the ongoing bull cycle. Ethereum Mega-Whale Balances Grow Ethereum has experienced a steady, albeit modest, rally since November 5, but it seems the real fireworks for ETH are yet to ignite. As Bitcoin soars into price discovery and several altcoins outperform expectations, Ethereum investors are searching for clear signals of an impending bull run for the second-largest cryptocurrency. Key on-chain data shared by top analyst Ali Martinez on X provides intriguing insights into Ethereum’s current state. Martinez highlights that Ethereum whales—entities holding significant amounts of ETH—have been accumulating aggressively since the price broke above the $3,330 level. This accumulation trend suggests that smart money is positioning itself for what could be a massive upward move in the months ahead. Historically, whale accumulation has often been a precursor to strong price rallies, as these large investors tend to anticipate major market shifts before retail traders. However, the narrative isn’t entirely bullish. While whale accumulation may signal confidence, it also raises concerns about a potential bull trap. These large holders could quickly pivot, offloading their ETH for other assets if market conditions shift or if Bitcoin’s dominance suppresses altcoin growth. Such a move could catch smaller investors off guard, leading to sharp corrections. Related Reading: AAVE Dominates DeFi Lending – Metrics Reveal 45% Market Share For Ethereum, holding above critical levels like $3,800 while breaking key resistances could be the catalyst needed to spark a true bull run. Until then, ETH remains a watchlist favorite, balancing potential and uncertainty. Price Testing Crucial Resistance Ethereum (ETH) is trading at $3,950, struggling to break above the crucial $4,000 resistance level for several days. Despite this, the price remains resilient, signaling strong market support. Clearing this level is essential to confirm the continuation of the uptrend, as $4,000 represents a psychological barrier and a key resistance zone for the asset. If Ethereum fails to breach the $4,000 mark, a retrace toward lower demand zones around $3,500 could be expected. This level has served as strong support in recent weeks, providing a cushion during periods of increased selling pressure. A pullback to this area could allow for renewed buying momentum, setting the stage for another attempt to break higher. Related Reading: Dogecoin Will See New ATH Soon – Top Trader Sets $2 Target However, recent market dynamics suggest Ethereum may be poised for a significant move upward. Bitcoin’s surge into price discovery and growing optimism around altcoins have created a bullish environment. With whales continuing to accumulate ETH, as highlighted by on-chain data, market participants are increasingly confident in Ethereum’s ability to retest and surpass its all-time highs. Featured image from Dall-E, chart from TradingView
Ethereum price started a decent increase above the $3,950 zone. ETH is consolidating gains and might aim for a move above the $4,150 resistance zone. Ethereum started a decent increase above $3,950 and $4,000. The price is trading below $3,980 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,940 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $4,080 and $4,120 resistance levels. Ethereum Price Regains Momentum Ethereum price remained stable and extended gains above $3,880 but it underperformed Bitcoin. ETH was able to climb above the $3,980 and $4,000 resistance levels. The bulls pushed the pair above the $4,050 and $4,080 resistance levels. A high was formed at $4,107 before there was a pullback. There was a minor decline below the $4,000 level. The price traded as low as $3,946 and is currently rising. There was a move above the 23.6% Fib retracement level of the downward move from the $4,107 swing high to the $3,946 low. Ethereum price is now trading above $4,000 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,940 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $4,025 level. The first major resistance is near the $4,070 level or the 76.4% Fib retracement level of the downward move from the $4,107 swing high to the $3,946 low. The main resistance is now forming near $4,120. A clear move above the $4,120 resistance might send the price toward the $4,250 resistance. An upside break above the $4,250 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,350 resistance zone or even $4,500. Downside Correction In ETH? If Ethereum fails to clear the $4,120 resistance, it could start another decline. Initial support on the downside is near the $3,980 level. The first major support sits near the $3,940 zone. A clear move below the $3,940 support might push the price toward the $3,880 support. Any more losses might send the price toward the $3,800 support level in the near term. The next key support sits at $3,750. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,940 Major Resistance Level – $4,120
Ethereum is once again making headlines as it edges closer to the critical $4,100 resistance level. After building steady upward momentum, the bulls seem determined to reclaim control and challenge this key barrier. Historically, this level has acted as a tough hurdle for ETH, but recent price action suggests growing buyer confidence. As ETH edges higher, traders are keenly watching to see if this rally has what it takes to finally break through the resistance and set the stage for further gains. With the stakes high and the momentum growing, the $4,100 level could be the key to Ethereum’s next big move. Will the Bulls rise to the challenge? Ethereum Price Approaches The Crucial $4,100 Resistance Level ETH is currently trading above the 100-day Simple Moving Average (SMA), signaling a bullish trend. Following a strong rebound at $3,670, the cryptocurrency has gained steady upward strength, gradually approaching the $4,100 key resistance level. This positive price action suggests that market sentiment is shifting in favor of the bulls, with increasing buying pressure pushing Ethereum closer to this critical barrier. As the price draws closer to $4,100, traders are watching closely to see if ETH can break through this resistance and sustain its bullish momentum, possibly paving the way for more growth. Related Reading: Ethereum Price Climbs To $4,000 Amid Historic ETF Inflows: Will It Break Previous Records? Furthermore, to support this outlook, the 4-hour Relative Strength Index (RSI) reveals strong positive sentiment for Ethereum. The RSI has risen to 63%, recovering from a previous dip to 53%. Significantly, this upward movement indicates growing buying pressure and reflects a shift toward bullish momentum. As the RSI climbs, it suggests that Ethereum is gaining strength, with potential for further upside. Thus, if ETH continues to stay above key thresholds, the crypto asset could have the strength to push through the $4,100 resistance level. Breaking Above The $4,100 Mark Could Spark ETH’s Next Bull Run A breakout above the $4,100 resistance level may serve as the catalyst for Ethereum’s next bull run, unlocking notable upside potential. This level has long been a critical barrier, representing psychological and technical resistance to ETH. Should the price break above $4,100, it would signal a shift in market dynamics, with the bulls firmly in control and poised to drive Ethereum to the $4,863 resistance level and beyond. Related Reading: Ethereum Breaks Barriers, Targets $6K Amid Record ETF, TVL Activity However, it’s important to note that a failure to break through $4,100 might lead to a pullback, triggering a retreat to lower support levels. A rejection at this key level would raise concerns about the sustainability of Ethereum’s bullish momentum, prompting traders to reassess their positions. Presently, Ethereum is trading at approximately $3,947, with a market capitalization of $475 billion. In the past 24 hours, ETH has seen a strong trading volume of $30 billion, indicating high investor interest and healthy market liquidity as Ethereum nears key resistance levels. Featured image from Unsplash, chart from Tradingview.com
Ethereum price started a decent increase above the $3,900 zone. ETH is consolidating gains and might aim for a move above the $4,000 resistance zone. Ethereum started a decent increase above $3,880 and $3,920. The price is trading below $3,920 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,900 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $3,980 and $4,020 resistance levels. Ethereum Price Faces Resistance Ethereum price remained stable and extended gains above $3,850 but it underperformed Bitcoin. ETH was able to climb above the $3,920 and $3,980 resistance levels. There was a break above a key bearish trend line with resistance at $3,900 on the hourly chart of ETH/USD. The bulls pushed the pair above the $4,000 and $4,010 resistance levels. A high was formed at $4,019 and the price is now consolidating gains. There was a minor decline below the $3,980 level. The price even dipped below the 23.6% Fib retracement level of the upward move from the $3,831 swing low to the $4,019 high. Ethereum price is now trading above $3,880 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $4,000 level. The first major resistance is near the $4,020 level. The main resistance is now forming near $4,050. A clear move above the $4,050 resistance might send the price toward the $4,150 resistance. An upside break above the $4,150 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,250 resistance zone or even $4,320. Another Decline In ETH? If Ethereum fails to clear the $4,000 resistance, it could start another decline. Initial support on the downside is near the $3,920 level and the 50% Fib retracement level of the upward move from the $3,831 swing low to the $4,019 high. The first major support sits near the $3,880 zone. A clear move below the $3,880 support might push the price toward the $3,840 support. Any more losses might send the price toward the $3,750 support level in the near term. The next key support sits at $3,650. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,920 Major Resistance Level – $4,000
Ethereum is making another attempt to break above the $4,000 level as it edges closer to its all-time highs. Despite its strong fundamentals, doubts linger in the market regarding Ethereum’s performance this cycle, with some expecting it to underperform amid stiff competition from other blockchain ecosystems. However, Ethereum’s recent price action suggests that it is building momentum, keeping investors on edge for a potential breakout. Related Reading: Bitcoin Stuck Between $99K And $102K – Analyst Explains Macro Situation Top analyst Carl Runefelt recently shared a technical analysis, noting that Ethereum has encountered strong resistance near the $4,000 mark and is now consolidating within a symmetrical triangle on the hourly chart. This pattern often precedes a decisive move, leaving traders speculating whether ETH will break out to new highs or face a temporary pullback. Ethereum’s performance at this key level will likely shape market sentiment in the coming weeks. A breakout above $4,000 could pave the way for a rally toward its all-time high, reigniting investor confidence. On the other hand, failure to clear this resistance might validate bearish concerns and lead to a retrace. As ETH remains at a critical juncture, all eyes are on its ability to navigate this pivotal zone and deliver the next major move. Ethereum Preparing To Move Ethereum has been grappling with significant resistance above the $4,100 level, leaving the market in suspense as traders anticipate its next move. With the price consolidating and showing signs of tension, Ethereum appears ready to make a decisive move in the coming days. The critical question remains: will it break higher, or is a pullback imminent? Runefelt shared his insights on X, pointing out that Ethereum is currently trading within a symmetrical triangle on the hourly chart—a pattern known for signaling potential breakouts or breakdowns. According to Runefelt, Ethereum’s immediate future hinges on two key levels. A breakout above $4,100 would confirm a bullish trajectory, likely propelling ETH toward new highs. Conversely, a breakdown below $3,675 would signal bearish sentiment, opening the door for a deeper correction. Related Reading: Solana To New ATH Before Christmas – Analyst Expects $300 Soon Runefelt emphasizes the importance of these levels, noting that the symmetrical triangle suggests mounting pressure that could soon lead to significant volatility. As Ethereum holds its position near critical resistance, the next few days are shaping up to be pivotal for determining its market direction. Technical Levels To Watch Ethereum (ETH) is currently trading at $3,840 after failing to break above the critical $4,000 resistance level. While the price remains strong and within range of this key level, it needs to clear $4,000 to confirm the continuation of its uptrend. Without a decisive breakout, ETH risks losing momentum, leaving traders and investors cautious about the next move. The $4,000 level has proven to be a significant psychological and technical barrier for Ethereum, with multiple attempts to break it being met with selling pressure. A successful breach of this resistance would likely pave the way for ETH to target higher levels, potentially pushing toward the yearly high of $4,100 and beyond. Related Reading: Dogecoin Will See New ATH Soon – Top Trader Sets $2 Target However, if Ethereum fails to overcome this hurdle, the market could see a retrace to lower demand zones. The $3,500 area is emerging as a critical support level that traders are closely monitoring. A dip to this level could provide a strong foundation for a bounce, but losing this support might signal a shift toward bearish sentiment. Featured image from Dall-E, chart from TradingView
Following a market rebound, Ethereum (ETH) has shown only sideways movement in the past few days as the battle to break beyond the $4,000 price region continues. While investors continue speculating on the asset’s next movement, the recent development of a new support region hints at a continued upward trajectory. Related Reading: Ethereum On-Chain Metrics Looking Strong – Momentum Building For ETH? ETH Bulls Form Strong Support At $3,700 – $3,810 In an X post on December 14, crypto analyst Ali Martinez revealed the formation of a critical support zone in the Ethereum market. Based on data from IntoTheBlock, Martinez shares that 3 million distinct wallets acquired 4.6 million ETH, valued at $17.6 billion, at prices between $3,700-$3,810 with an average market price of $3,751. Such high level of accumulation activity identifies this price range as a significant zone of investor interest. Importantly, this heightened buying pressure converts $3,700-$3,810 to a vital support zone as market bulls will be compelled to defend this price range in the case of a price decline. Furthermore, despite Ethereum’s struggle to make any meaningful breakout past $4,000 so far, investors purchasing massive amounts of ETH at high price levels indicates market confidence in the asset’s ability to move past the presented resistance and sustain its price growth. However, it is worth noting that Ethereum losing this support zone due to an overwhelming bearish sentiment will result in immediate substantial losses that can induce a further price decline. If this market scenario occurs, ETH could slide as low as $3,565, with the next available support level being $3,303. Related Reading: Bitcoin Confidence Grows As Binance Data Highlights Surprising Market Trends Ethereum Records Eight-Month High Network Growth In other developments, the prominent blockchain analytics platform Santiment reports Ethereum is experiencing an impressive level of renewed market interest. In a recent X post, Santiment states that an average of 130,200 new addresses are being created on the Ethereum network each day in December – the highest ever since April. This rise in new wallets suggests an influx of retail and institutional investors as evidenced by multiple developments including Ethereum’s price performance in Q4 2024, a booming DeFi ecosystem as well as the recent bullish performance of the spot Ethereum ETFs. In terms of implications, this rapid network growth can boost network activity, transaction volume, and ETH demand thereby resulting in a further price increase. At the time of writing, Ethereum trades at $3,885 with a decline of 0.99% in the past day. Albeit, this loss only underscores the turbulent past trading week where Ethereum dipped by a cumulative 2.75%. Featured image from Bankrate, chart from Tradingview
According to a recent Bloomberg report, Donald Trump’s crypto initiative, World Liberty Financial (WLF), is making significant strides by acquiring three altcoins worth millions. This move comes amid growing speculation that the decentralized finance (DeFi) platform is on the brink of “becoming operational.” Trump’s Crypto Venture Secures Major Token Purchases Since December 11, World Liberty […]
Ethereum is attempting to break above the critical $4,000 level as it edges closer to its all-time high. The market has shown skepticism regarding Ethereum’s performance in this cycle, with some analysts predicting it might underperform compared to previous bullish phases. Despite this doubt, Ethereum has proven its resilience, consistently finding demand at key support levels and maintaining a bullish price structure. Related Reading: Dogecoin Will See New ATH Soon – Top Trader Sets $2 Target Adding to the optimism, on-chain data from IntoTheBlock highlights a strong foundation for Ethereum’s network activity this week. Metrics such as active addresses, transaction volumes, and net flows suggest a healthy ecosystem, reinforcing the potential for ETH to continue its upward trajectory. These indicators reveal increasing participation and growing confidence among investors, even amid broader market uncertainties. As Ethereum approaches a critical resistance, all eyes are on whether it can maintain momentum and push past $4,000. If successful, this breakout could reignite bullish sentiment and pave the way for ETH to retest its all-time highs, silencing doubters in the process. However, failure to clear this hurdle might result in further consolidation, keeping traders on edge as they anticipate Ethereum’s next major move. Ethereum Data Signals Strength Ethereum has been steadily climbing in recent weeks, fueled by a strong bullish trend that began earlier this month. The price momentum is catching the attention of top analysts and investors, who are closely watching for a breakout above yearly highs as ETH edges closer to its all-time high (ATH). The anticipation in the market is palpable, with many viewing this as a pivotal moment for Ethereum to solidify its position in this bull cycle. Top analyst Ali Martinez recently shared on-chain metrics from IntoTheBlock, revealing a robust outlook for Ethereum’s network this week. Active addresses have increased by 4.24%, signaling heightened participation and interest among users. Similarly, new addresses have risen by 2.65%, suggesting growing adoption and investor activity. Notably, zero-balance addresses have decreased by 4.06%, indicating that dormant wallets are coming back to life, and ETH is being reactivated for transactions or investments. These positive metrics highlight building momentum for Ethereum, reinforcing the belief that it is poised for a significant price move. If ETH successfully breaks above its yearly highs, it could trigger a powerful rally, potentially setting new records. However, a failure to maintain upward momentum could see Ethereum retreat to consolidate further before attempting another breakout. Related Reading: Solana To New ATH Before Christmas – Analyst Expects $300 Soon With its fundamentals strengthening and the market aligning for a breakout, Ethereum appears ready to make its next major move. Whether it’s targeting new all-time highs or finding support for another push, the coming weeks will likely be crucial in determining Ethereum’s trajectory for the remainder of the bull cycle. As sentiment builds, all eyes remain on Ethereum’s ability to capitalize on its growing momentum. ETH Testing Supply Ethereum (ETH) is currently trading at $3,920, showing resilience after several failed attempts to break above the critical $4,000 resistance level. This price point remains a psychological and technical barrier for ETH, and clearing it is essential to confirm the continuation of its bullish uptrend. The market’s attention is focused on Ethereum’s ability to reclaim the $4,000 level, which would likely serve as a catalyst for a strong rally toward new yearly highs. However, the inability to decisively breach this resistance has kept ETH in a consolidative phase, leaving some uncertainty about its next move. If Ethereum fails to maintain its current momentum and breaks above $4,000 in the coming sessions, the price could face increased selling pressure. A retracement toward lower demand levels around $3,500 is likely in such a scenario. This level has previously acted as a robust support zone, and a retest could provide the foundation for another upward attempt. Related Reading: Dogecoin Whales Bought 210 million DOGE During Recent Correction – Bullish Signal? As the market awaits a decisive move, Ethereum remains in a critical position. Breaking $4,000 would reinvigorate bullish sentiment, while failure to do so could signal further consolidation or correction before the next significant price action unfolds. Featured image from DALL-E, chart from TradingView
The price of Ethereum recorded an overall decline of 2.08% in the past week in line with the general performance of most altcoins. While the prominent cryptocurrency struggles to make any significant breakout past $4,000, certain developments on its underlying network have drawn investors’ attention. Related Reading: Ethereum Price Aims Higher: A Smooth Path To $4,000 and Beyond? Ethereum Weekly Fees Rise By 18% Amid DeFi Ecosystem Boom In a recent report on December 13, crypto analytics company IntoTheBlock stated that weekly Ethereum network fees rose by 17.9% in the past week reaching an estimated $67 million – the highest-ever value since April. According to analysts at IntoTheBlock, these high network fees can be attributed to ETH’s price balancing as Bitcoin retraced to $100,000. In addition, there has been a significant increase in DeFi activity on the Ethereum blockchain. Providing more insight into Ethereum’s vibrant DeFi ecosystem, the Satoshi Club highlights that DeFi lending has been on the rise, with traders leveraging their Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH) to borrow stablecoins. These wrapped assets allow users to maximize their collateral utility by tapping into the liquidity and stability of DeFi protocols while maintaining exposure to major cryptocurrencies i.e. Bitcoin and Ethereum. Notably, the demand surge for lending drove interest rates to exceptional levels, now exceeding 10% on average and reaching as high as 40% on certain platforms. Interestingly, these figures mirror the peak dynamics seen in the 2022 bull market. Aave, one of Ethereum’s major DeFi protocols with a TVL of $22.46 billion has been a focal point on this increased DeFi activity, recording an impressive $500 million in net inflows over the last week. While heightened network activity driven by increased DeFi activity can indicate growing interest in the Ethereum network, investors should note that elevated Ethereum fees will pose challenges for smaller users being rewarding only for those who can capitalize on high interest rates. Related Reading: Ethereum Price Preps for Breakout: Will Bulls Drive a Massive Upswing? ETH Price Overview At the time of writing, Ethereum trades at $3,914.08 reflecting a minor loss of 0.22% in the past day. On the other hand, the altcoin is up by 21.39% on its monthly chart representing its stellar performance in the past few weeks As earlier stated, Ethereum’s most immediate resistance is the $4,000 price zone which has offered much opposition to price growth since the start of December. By breaking past this price barrier, Ethereum is likely to surge to $4,900 which represents its current all-time high and next significant price resistance. With a market cap of $471.16 billion, Ethereum remains the second-largest cryptocurrency representing 12.9% of the total digital assets market. Featured image from Empiricus, chart from Tradingview
Despite surging more than 65% on a year-to-date (YTD) basis, Ethereum (ETH) has been overshadowed by Bitcoin (BTC) and other cryptocurrencies like Solana (SOL) and XRP due to their extraordinary price gains throughout 2024. Analysts are increasingly bullish on ETH, projecting five-figure price targets for the second-largest cryptocurrency. Ethereum To Finally Get Its Moment? The […]
Ethereum (ETH) has seen a significant 4.7% recovery in the last 24 hours, reclaiming a crucial support zone. This performance has fueled a bullish sentiment among some market watchers, who consider the cryptocurrency to break above a key resistance level in the coming days. Related Reading: Bitcoin Sees First Close Above $100,000, But Is A Big Correction Coming? Ethereum Reclaims Key Support Nearly a week ago, Ethereum jumped above $4,000 for the first time in nine months, nearing its march-high and the long-awaited $4,100 resistance level. However, the cryptocurrency’s rally was momentarily paused after the crypto market saw a significant pullback. Earlier this week, ETH retraced nearly 10%, dipping below the $3,500 mark as Bitcoin retraced to $95,000. After the retrace, the second-largest crypto by market capitalization has steadily climbed back, recovering the $3,800 support zone on Wednesday afternoon. ETH’s price then rose another 2% in the early hours of Thursday to trade above the $3,900 level again. As Ethereum reclaimed this key zone, Crypto analyst Carl Runefelt noted that the cryptocurrency was trading back above its ascending support trendline, which it had lost during the market correction. Additionally, the King of Altcoins was retesting a six-day downtrend line in the 4-hour chart, which would target a surge toward $4,000 after a successful breakout from the $3,940 mark. Ethereum broke above this resistance in the following hours, surging to a daily high of $3,985 before retracing to $3,945. Per the analyst, holding above this level could propel ETH’s price to $4,100 in the coming days. ETH To $5,000 Soon? According to some analysts, despite reclaiming the $3,900 zone, Ethereum still needs to turn another multi-year resistance into support successfully. Analyst Alex Clay recently pointed out that ETH has been retesting the $9,350 level since 2021, unsuccessfully turning it into support over the past few years. Ethereum has faced rejection at this resistance level on four different occasions. However, when ETH broke and held this level, it rallied toward its all-time high (ATH) of $4,878 around three years ago. Crypto analyst Jelle suggested that Ethereum is preparing for massive moves as it recently broke out of a multi-year pennant. ETH-based Exchange-traded funds (ETFs) have seen a massive surge since the post-election rally. As Farside Investors data shows, ETH ETFs have seen over $500 million in inflows this week and over $1.3 billion since this month started. This signals increased demand from institutional players, adding to the cryptocurrency’s momentum. Related Reading: Analyst Sounds The Alarm As Solana (SOL) Retests $210, Rebound Or Retrace Next? Moreover, the Donald Trump-backed DeFi project World Liberty Financial Initiative (WLFI) acquired around $10 million in ETH yesterday. Lookonchain said the WLFI wallet bought 2,631 ETH at $3,801 per token. To Jelle, this “looks like ETH season just got the ‘go ahead’ nod from institutions.” If Ethereum reclaims the $3,950 resistance into support, there will be “very little standing in the way of new all-time highs from here,” the analyst added. He forecasted that Ethereum could hit $5,000 after breaking out and that 2025 will be a “comeback year for ETH.” As of this writing, ETH is trading at $3,951, a 4.7% surge in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Ethereum price started a decent increase above the $3,750 zone. ETH is consolidating gains and might aim for a move above the $3,980 resistance zone. Ethereum started a decent increase above $3,750 and $3,800. The price is trading below $3,800 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $3,950 and $3,980 resistance levels. Ethereum Price Outpaces Bitcoin Ethereum price remained stable and extended gains above $3,750 beating Bitcoin. ETH was able to climb above the $3,800 and $3,880 resistance levels. The bulls pushed the pair above the $3,920 and $3,950 resistance levels. A high was formed at $3,988 and the price is now consolidating gains. There was a minor decline below the $3,920 level. The price even dipped below the 23.6% Fib retracement level of the upward move from the $3,527 swing low to the $3,988 high. Ethereum price is now trading above $3,800 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,840 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $3,950 level. The first major resistance is near the $3,980 level. The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,150 resistance. An upside break above the $4,150 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,250 resistance zone or even $4,320. Another Decline In ETH? If Ethereum fails to clear the $3,980 resistance, it could start another decline. Initial support on the downside is near the $3,840 level and the trend line. The first major support sits near the $3,750 zone or the 50% Fib retracement level of the upward move from the $3,527 swing low to the $3,988 high. A clear move below the $3,750 support might push the price toward the $3,665 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,840 Major Resistance Level – $3,980
Ethereum price started a decent increase above the $3,650 zone. ETH is now rising and might aim for a move above the $3,900 resistance zone. Ethereum started a decent increase above $3,650 and $3,680. The price is trading below $3,750 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,720 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $3,850 and $3,900 resistance levels. Ethereum Price Eyes More Gains Ethereum price remained stable above $3,500 and started a fresh increase like Bitcoin. ETH was able to climb above the $3,650 and $3,720 resistance levels. There was a break above a key bearish trend line with resistance at $3,720 on the hourly chart of ETH/USD. The bulls pushed the pair above the 50% Fib retracement level of the downward wave from the $4,015 swing high to the $3,488 low. The price even spiked above the $3,800 resistance zone. Ethereum price is now trading above $3,750 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,850 level. The first major resistance is near the $3,890 level or the 76.4% Fib retracement level of the downward wave from the $4,015 swing high to the $3,488 low. The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,050 resistance. An upside break above the $4,050 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,150 resistance zone or even $4,220. Another Drop In ETH? If Ethereum fails to clear the $3,890 resistance, it could start another decline. Initial support on the downside is near the $3,800 level. The first major support sits near the $3,750 zone. A clear move below the $3,750 support might push the price toward the $3,650 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,750 Major Resistance Level – $3,890
Amid waning market momentum, Ethereum, the second-largest digital asset, is displaying a notable downswing, falling to multiple support levels. However, with recent developments cited on its chart, the altcoin might witness a major rally that could send ETH to a new all-time high in the upcoming months. Key Breakout To Drive Ethereum’s Next Big Move […]
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, seems to be drawing attention as analysts observe market metrics that indicates the possible next move for ETH. Recent data from CryptoQuant has highlighted patterns in accumulation and exchange-traded fund (ETF) inflows, providing a detailed look at Ethereum’s potential trajectory as it underperforms relative to Bitcoin in the current cycle. Related Reading: Ethereum Price Faces Pressure: Bulls Tested After Setback Analyzing Trends in Accumulation and ETF Inflows In a series of posts shared on social media platform X, CryptoQuant analysts dissected Ethereum’s key metrics. One of the standout observations was Ethereum’s balance in accumulation addresses. These addresses now hold approximately 19.5 million ETH, valued at around $78 billion. For comparison, Bitcoin accumulation addresses hold about 2.8 million BTC, worth $280 billion. While the dollar value of Bitcoin held is four times larger than Ethereum, this aligns with their relative market capitalizations, offering insights into investor behaviour. Another critical metric spotlighted was the steady inflow into Ethereum-focused ETFs over the past months. Notable spikes were recorded on several key dates, including $1.1 billion on November 11 and $839 million on December 4, 2024. According to the CryptoQuant analysts, these consistent inflows are a strong indicator of institutional buying interest, reinforcing Ethereum’s growing appeal among large-scale investors. The Ethereum ETF has seen steady inflows in recent months. Key spikes on: Nov 11, 2024: $1,100M Nov 21, 2024: $754M Nov 25, 2024: $629M Nov 27, 2024: $883M Dec 4, 2024: $839M These inflows reflect strong buying pressure. pic.twitter.com/OIwWNmRPYB — CryptoQuant.com (@cryptoquant_com) December 10, 2024 Despite the strong ETF demand, Ethereum’s price movements have been less dramatic compared to Bitcoin’s performance in this cycle. Historically, Ethereum’s price peaks have trailed Bitcoin’s, as seen during the 2021 bull run. At that time, Bitcoin hit an all-time high (ATH) in March with a 480% gain, while Ethereum peaked few months after with roughly 1,114% increase. However, in the current cycle, Ethereum appears to be underperforming, signaling a shift in market dynamics. Taker Volume and Potential Growth Furthermore, a significant area of concern the analysts mentioned is the Ethereum’s taker volume, which reflects market sentiment by comparing aggressive buying and selling activity. CryptoQuant reported that Ethereum’s taker-seller volume has hit a record low of -400 million. This aggressive selling activity is reminiscent of patterns observed before its ATH in 2021. While the current selling pressure may seem bearish, it could also signal a market nearing a critical pivot point. Ethereum Taker Volume is at its lowest level on record. Ethereum’s price weakness is due to high taker-seller volume, now at a record low of -400 million, indicating aggressive selling. A similar pattern occurred before Ethereum’s peak in May 2021. Despite this, there may still… pic.twitter.com/OmRYvAzjxI — CryptoQuant.com (@cryptoquant_com) December 10, 2024 The analysts emphasized that Ethereum’s underperformance in this cycle does not preclude the possibility of significant growth. Related Reading: Ethereum Price Breakout: Charting The Uncertain Part Of ETH To $18,000 The interplay between accumulation patterns, ETF inflows, and taker volume suggests that Ethereum could still have room for upward momentum. Featured image created with DALL-E, Chart from TradingView
Ethereum price remained stable above the $3,500 zone. ETH is now consolidating and might aim for a move above the $3,750 resistance zone. Ethereum started a downside correction below $3,780 and $3,750. The price is trading below $3,800 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,740 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,500 support zone. Ethereum Price Holds Support Ethereum price extended losses below the $3,880 zone like Bitcoin. ETH declined below the $3,780 and $3,750 support levels. It even spiked below $3,550. A low was formed at $3,488 and the price is now consolidating losses. It recovered some points above the $3,550 and $3,600 levels. The price already tested the 50% Fib retracement level of the downward move from the $4,015 swing high to the $3,488 low. However, the bears are active below $3,800 and preventing more upsides. Ethereum price is now trading below $3,800 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,750 level. There is also a key bearish trend line forming with resistance at $3,740 on the hourly chart of ETH/USD. The first major resistance is near the $3,815 level or the 61.8% Fib retracement level of the downward move from the $4,015 swing high to the $3,488 low. The main resistance is now forming near $3,880. A clear move above the $3,880 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,150 resistance zone or even $4,220. Another Decline In ETH? If Ethereum fails to clear the $3,750 resistance, it could start another decline. Initial support on the downside is near the $3,600 level. The first major support sits near the $3,550 zone. A clear move below the $3,550 support might push the price toward the $3,500 support. Any more losses might send the price toward the $3,420 support level in the near term. The next key support sits at $3,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,500 Major Resistance Level – $3,750
Ethereum price corrected gains below the $3,880 zone. ETH is now recovering some losses and facing hurdles near the $3,800 resistance zone. Ethereum started a downside correction below $3,880 and $3,800. The price is trading below $3,880 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,815 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,600 support zone. Ethereum Price Dips Further Ethereum price failed to stay above the $4,000 zone and started a downside correction like Bitcoin. ETH declined below the $3,880 and $3,800 support levels. It even spiked below $3,600. A low was formed at $3,488 and the price is now recovering some losses. It climbed above the $3,550 and $3,620 levels. The price surpassed the $3,700 level and tested the 50% Fib retracement level of the downward move from the $4,017 swing high to the $3,488 low. Ethereum price is now trading below $3,880 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,780 level. The first major resistance is near the $3,800 level. There is also a key bearish trend line forming with resistance at $3,815 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the downward move from the $4,017 swing high to the $3,488 low. The main resistance is now forming near $3,880. A clear move above the $3,880 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,050 resistance zone or even $4,120. More Losses In ETH? If Ethereum fails to clear the $3,780 resistance, it could start another decline. Initial support on the downside is near the $3,620 level. The first major support sits near the $3,560 zone. A clear move below the $3,560 support might push the price toward the $3,480 support. Any more losses might send the price toward the $3,350 support level in the near term. The next key support sits at $3,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,620 Major Resistance Level – $3,880
Ethereum (ETH) continues to hover around the critical $4,000 resistance level, a price point many believe could determine the cryptocurrency’s next major move. However, a strong weekly close has sparked optimism among analysts, suggesting that ETH could be on track to reach a new all-time high (ATH) soon. Ethereum Heading To New ATH? Experts Weigh In While cryptocurrencies like Bitcoin (BTC), Solana (SOL), and XRP have experienced explosive growth this year, ETH’s price momentum has been relatively subdued. According to CoinGecko, Ethereum has recorded gains of 62% over the past year, falling short compared to other trending digital assets. Related Reading: Analyst Confirms Ethereum Golden Cross As ETH Surges Past $4,000 – Is Altseason In Sight? However, ETH’s performance relative to other cryptocurrencies has not deterred ETH bulls from aiming for new ATHs for the cryptocurrency. For instance, seasoned crypto analyst Pentoshi recently took to X to explain the significance of ETH’s “structural changes” and the consistently large inflows attracted by spot ETH exchange-traded funds (ETFs). Pentoshi noted that Ethereum has not only recorded a higher high on the weekly chart, but also had its highest weekly close of the year. The analyst added that, given its current price of slightly below $4,000, there is not much resistance to ATH, which “should act as a magnet” for further gains. Another crypto analyst, @CryptoPoseidonn highlighted that ETH is set to break out of its “4-year, 1,460-day range to the upside.” In a chart, the analyst marked out the different Fibonacci extension levels to identify potential price targets for ETH. According to the chart, ETH can rise to $6,000 at the 1.272 extension level, $7,400 at the 1.618 extension level, and $11,400 at the 2.618 extension level. ETH can rise “much higher, far beyond your worst nightmares,” the analyst added. In a shorter time frame, Satoshi Flipper, another well-known analyst, emphasized that ETH attempts to break through an ascending channel in the 4-hour chart. He suggested that the current price, sitting on diagonal channel support, might present a “nice entry” point, predicting that the next impulsive move could take ETH to $4,400. ETH Bulls Cautiously Optimistic Although there is high anticipation for a new ETH ATH, some experts opine that there may still be a few hurdles before the digital asset records a new ATH price. For instance, ETH crossing the $4,000 level may lead to increased risks of profit-taking, potentially resulting in a short-term correction. Related Reading: Ethereum Risk-Reward Ratio Is Now Attractive, Brokerage Firm Explains However, Ethereum’s fundamentals remain robust, adding to its bullish outlook. For instance, ETH active addresses and large value transactions have shown an uptick, reflecting increased on-chain activity during the recent rally. Additionally, some analysts believe ETH could follow a trajectory similar to Bitcoin’s 2021 bull run, with the potential to reach $10,000. ETH trades at $3,847 at press time, down 3.9% in the past 24 hours. Featured image from Unsplash, charts from X and Tradingview.com
Ethereum is portraying its position as a leader in the crypto market after its recent upward spike to the $4,000 mark, a level not seen for about three years. As ETH challenges resistance points, this notable rally toward the pivotal level has sparked strong confidence about its future performance. Can Ethereum Reach Its Current Peak? […]
Ethereum price corrected gains from the $4,080 resistance zone. ETH is now trading below $4,000 and showing some bearish signs. Ethereum started a downside correction from the $4,093 high. The price is trading above $3,920 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,965 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,840 support zone. Ethereum Price Corrects Some Gains Ethereum price remained well-bid above the $3,750 support zone. ETH formed a base and started a fresh increase above $3,920 beating Bitcoin. The bulls were able to push the price above the $4,000 resistance. The price tested the $4,080 resistance. A high was formed at $4,093 and the price started a downside correction. There was a move below the $4,050 and $4,000 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $3,680 swing low to the $4,093 high. Besides, there was a break below a key bullish trend line with support at $3,965 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,920 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,960 level. The first major resistance is near the $3,980 level. The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,080 resistance. An upside break above the $4,080 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,150 resistance zone or even $4,220. More Losses In ETH? If Ethereum fails to clear the $4,000 resistance, it could start another decline. Initial support on the downside is near the $3,920 level. The first major support sits near the $3,880 zone. A clear move below the $3,880 support might push the price toward the $3,840 support. Any more losses might send the price toward the $3,770 support level in the near term. The next key support sits at $3,650. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,920 Major Resistance Level – $3,980
Shortly after surging above $4,000 on December 6, Ethereum (ETH) has sunk into a state of consolidation showing no significant price action over the last day. With growing speculations over the altcoin’s next price movement, CryptoQuant analyst Burak Kesmeci has shared a report that suggests a sustained price rally by Ethereum. Related Reading: Ethereum Price Breakout: Charting The Uncertain Part Of ETH To $18,000 US Election Results Drive Ethereum Active Addresses To 417,000 Following the US elections of November 5, Ethereum, alongside a host of other cryptocurrencies, has experienced massive price gains driven primarily by the emergence of pro-crypto candidate Donald Trump as the US President-elect. According to Burak Kesmeci, the results of the US elections removed much uncertainty around the crypto market while encouraging investment as evidenced by price gains of several tokens. Notably, Ethereum, known as the “Father of altcoins”, has recorded a price growth of 70% since November 5 reaching a local peak of $4,077. As with all price rallies, there is continuous speculation on Ethereum’s ability to maintain its current upward price trajectory. Joining the discourse, Kesmeci has drawn a bullish inference from the asset’s change in active address. The CryptoQuant analyst highlights that during Ethereum’s recent price surge, active addresses on its network increased by 36.26% from 306,000 on November 5, to its current value of 417,000. This development indicates that the price increase of Ethereum was based on an equal rise in organic demand and market interest by investors and blockchain users. In conclusion, Burak Kesmeci states the growth in Ethereum active addresses backs the recent price rally as “healthy and sustainable”. Importantly, it is also a bullish signal that indicates ETH is likely to experience a long-term price surge. Related Reading: Ethereum To Pull A BTC 2021-Like Rally? Analyst Shares Massive Prediction ETH Price Overview According to data from CoinMarketCap, Ethereum trades at $4,006 reflecting a slight loss of 0.54% in the past 24 hours. For long-term investors, the prominent altcoin remains in profit based on gains of 7.36% and 39.31% in the last seven and 30 days, respectively. If ETH breaks upward following its current consolidation, the altcoin will face significant resistance at $4,100. However, moving past this price zone opens a potential pathway to $4,900 which lies around Ethereum’s all-time high at $4,891. Aside from a rise in Ethereum active addresses, other developments continue to contribute to the heightened bullish sentiments around the second-largest cryptocurrency. This includes an increase in the inflows to the Ethereum spot ETFs, as backed by a cumulative total net inflow of $1.41 billion. In addition, the altseason appears to be kicking off with widespread gains tipped to occur in early 2025. Featured image from Forbes, chart from Tradingview
The spot Ethereum ETFs (exchange-traded funds) in the United States have continued their impressive form, posting their tenth consecutive day of positive inflows to close the week. This strong performance reflects the growing positive sentiment amongst investors following the recent US presidential elections. The streak of capital influx would also mark a great start to […]
Ethereum (ETH) is making headlines as it trends toward the $4,100 mark, reaching a new yearly high of $4,096. This milestone, just $3 above the previous high set in March, signals a potential resurgence for the second-largest cryptocurrency by market capitalization. The price action has caught the attention of analysts and investors, particularly as Ethereum continues to outperform expectations in a market dominated by volatility and uncertainty. Related Reading: Dogecoin About To Enter Phase Of Explosive Growth – Charts Reveal Massive Breakout Key metrics from IntoTheBlock shared by analyst Ali Martinez shed light on the network’s activity, revealing a surge in large Ethereum transactions. Historically, such increases in transaction volume have been linked to significant price movements, suggesting that Ethereum’s current uptrend could have more room to run. These developments hint at growing interest from institutional players and high-net-worth investors, further solidifying Ethereum’s position as a market leader. The next few weeks promise to be pivotal as Ethereum approaches the year’s end. Will it sustain its momentum and close the year with a breakout above $4,100? Or will it face resistance and retrace? With on-chain activity and market sentiment aligning in Ethereum’s favor, all eyes are on its next move as traders and investors position themselves for what could be an exciting close to 2024. Ethereum Transactions Surge With Price Ethereum continues to dominate market discussions after pushing to new yearly highs on Friday. The cryptocurrency surged past $4,096, surpassing its previous peak set in March. This upward momentum has reignited investor interest, but Ethereum’s price isn’t the only thing on the rise—its network activity is booming as well. According to data by analyst Ali Martinez (IntoTheBlock), large Ethereum transactions are experiencing a significant uptick. Martinez highlights that weekly transaction volume has skyrocketed by over 300%, reaching an impressive $17.15 billion yesterday. This surge in network activity signals increased confidence among institutional players and high-net-worth investors, who often precede retail adoption during major bull runs. Such growth in transaction volume historically correlates with sustained upward price movements, suggesting Ethereum’s rally may not be over. As the second-largest cryptocurrency by market cap, ETH appears well-positioned to continue setting new highs if these trends persist. Despite this optimism, ETH faces a key milestone ahead—its all-time high of $4,878, set in November 2021, is still 20% away. While Ethereum’s recent breakout has invigorated bulls, analysts caution that reaching and sustaining prices near the ATH will require significant buy-side pressure and broader market strength. Related Reading: Cardano Whales Keep Buying – Price Holds Above Crucial Mark If the current trajectory holds, Ethereum could approach its ATH sooner than expected, further solidifying its status as the go-to blockchain for decentralized applications and financial innovation. For now, investors are closely monitoring Ethereum’s price action and network data to gauge whether this rally has the momentum to break new ground or if a pullback is imminent. ETH Pushing Above $4k Ethereum is currently trading at $3,960, showing resilience after reaching a local high of $4,096 just two days ago. This rally has brought Ethereum back into the spotlight, with investors eyeing key levels that could dictate its next move. A weekly close above the critical $4,000 mark would signal the highest weekly close for ETH since December 2021, a major milestone for the second-largest cryptocurrency. Such a close would reinforce the bullish sentiment surrounding Ethereum, potentially attracting more buy-side pressure and setting the stage for a continued rally toward its all-time high of $4,878. On the flip side, failure to achieve a weekly close above $3,880—its previous highest weekly close—could indicate waning momentum. In this scenario, Ethereum may enter a consolidation phase as traders take profits and the market digests recent gains. Consolidation below this level would likely keep ETH range-bound in the near term, with $3,880 and $4,000 acting as pivotal resistance levels. Related Reading: Dogecoin Still In Consolidation – Analyst Expects $0,63 If We Get A Breakout The next few days will be crucial as ETH navigates this critical juncture. A decisive weekly close will likely determine whether Ethereum extends its current rally or pauses to consolidate, offering traders opportunities and challenges in this dynamic market. Featured image from DALL-E, chart from TradingView
The Ethereum price seems to be finally picking up some momentum after several weeks of trailing the remarkable Bitcoin price performance. After kickstarting the week with sluggish price action, the acclaimed “king of altcoins” has returned to above the $4,000 mark for the first time since March. Mirroring the current market climate, the Ethereum price […]
In a significant market development, Ethereum (ETH) has surpassed the $4,000 mark for the first time in over ten months, closing the first week of December with a remarkable 40% surge in the weekly time frame. This upswing has been closely tied to a broader rally in the crypto market, particularly with Bitcoin (BTC), which recently reached new all-time highs. Ethereum Surges 61% As ETF Demand Grows According to Bloomberg, Ethereum exchange-traded funds (ETFs) in the United States experienced unprecedented demand, recording a daily inflow of $428 million on Thursday alone. This surge in investment interest reflects a growing confidence in Ethereum, particularly following Donald Trump’s election victory on November 5, which ignited a bullish sentiment across the crypto landscape. Since then, Ethereum has outperformed Bitcoin, boasting a staggering 61% increase in value. Related Reading: Trump’s Crypto Czar David Sacks Is Super Bullish For Solana: Here’s Why The appointment of Paul Atkins to lead the Securities and Exchange Commission (SEC) has further bolstered enthusiasm for Ethereum. Atkins, a proponent of pro-crypto regulation and a member of the advisory board for the advocacy group Token Alliance, is seen as a positive force for the crypto industry. Bloomberg suggests that under his leadership, the restrictions preventing investors from earning yield on staked Ether through ETFs could be reconsidered, enhancing the appeal of these investment vehicles. Altcoin Season In Full Swing Nick Forster, founder of the crypto trading platform Derive.xyz, noted, “Now that Bitcoin has hit $100,000, it appears that investors are seeking the next opportunity.” Forster highlighted that Ethereum remains significantly below its all-time high of $4,878 reached in November 2021, prompting many investors to shift their focus and explore the potential for gains in altcoins like ETH. The increasing interest in Ethereum is also evident in the derivatives market, where open interest in Ether futures contracts on CME Group Inc. has reached record levels, significantly outpacing the growth in Bitcoin futures. Le Shi, managing director at market-making firm Auros, remarked that US institutions tend to favor regulated investment vehicles, resulting in a higher concentration of activity in CME Ether futures and ETH ETFs. Additionally, the founders of Glassnode—Yan Allemann, Jan Happel, and Rafael Schutlze-Kraft—have pointed to the resilience of altcoins amid Bitcoin’s recent volatility. Related Reading: Dogecoin Still In Consolidation – Analyst Expects $0,63 If We Get A Breakout Despite Bitcoin experiencing a 13% dip, altcoins have largely maintained their value, indicating a robust market sentiment. The Altcoin Index hitting 100 further confirms that the market is in the midst of an “Altcoin Season,” with expectations for significant moves as the weekend approaches. Looking ahead, the outlook for the market’ second largest crypto remains optimistic, with increasing expectations for both institutional and retail investments as the current market cycle unfolds. Analysts have already predicted that gains could soon surpass Ethereum’s previous all-time price, setting the stage for a potentially transformative period in the cryptocurrency market. At the time of writing, ETH trades at $3,990. Featured image from DALL-E, chart from TradingView.com
Crypto analyst BallaJi has provided insights into how the Ethereum price breakout could happen and even raised the possibility of ETH reaching $18,000. Ethereum currently boasts a bullish outlook, having recently broken above $4,000 for the first time since March of this year. How The Ethereum Price Could Reach $18,000 In a TradingView post, BallaJi predicted that the Ethereum price could reach $18,000. The crypto analyst explained that based on logarithmic projections, the measured move of this HVF could send Ethereum to the target. He provided a caveat, stating that the price rally to the target might not happen in 2025. Related Reading: Analyst Says Bitcoin Price At $100,000 Is A ‘Dangerous Zone’, Predicts Massive Crash However, he is confident that if this bullish pattern is completed, then the Ethereum price could reach this $18,000 price target later on this decade. A rally to this price target would give Ethereum a market cap of around $2 trillion based on its circulating supply of 120.44 million ETH. Meanwhile, BallaJi highlighted three logarithmic targets on the chart, with $18,000 being the third and last target. The first and second targets are at $3,818 and $6,236 respectively. In an update on the trade setup, the crypto analyst noted that the Ethereum price has reached, broken, and retested the first target at $3,818. With the trade now active, BallaJi provided insights into how the Ethereum price could continue this upward trend using linear measured moves. The accompanying chart he shared showed that the next linear target is at $5,193; a rally to that target would mark a new all-time high (ATH) for ETH, with its current ATH at $4,800. Meanwhile, the next linear target is at $7,299. BallaJi’s chart showed that the Ethereum price should hit these price targets by next year. A rally to the $7,299 target could then pave the way for ETH to reach $18,000, although the analyst already warned that it might not happen in 2025. Countdown To New ATH Has Begun In an X post, crypto analyst Justin Bennett stated that the countdown to a new ATH for the Ethereum price has begun. According to the analyst, ETH could rally quickly above $5,000 as it breaks several levels this week. The analyst’s accompanying chart showed that the quick rally above $5,000 could lead Ethereum to hit $6,300. Related Reading: Dogecoin Price Analysis: Ascending Triangle On 2-Hour Chart Shows DOGE Is Still Very Bullish Crypto analyst Titan of Crypto also predicted that an Ethereum price rally to $5,000 is imminent. He stated that ETH’s market structure mirrors BTC’s from a few weeks ago. He remarked that the $5,000 target is just the minimum as he believes that Ethereum will likely go higher. At the time of writing, the Ethereum price is trading at around $3,980, up almost 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Ethereum (ETH) surged past $4,000 earlier today for the first time since March 2024. Having surpassed a key price level with a golden cross, analysts are confident that this could signal the beginning of the highly anticipated altcoin season. How Far Can The Golden Cross Push Ethereum? Ethereum, the leading smart contract blockchain saw its native ETH token rise beyond $4,000 today. What’s interesting is that ETH is not only showing signs of strength against USDT but also against Bitcoin (BTC). Related Reading: Ethereum To Pull A BTC 2021-Like Rally? Analyst Shares Massive Prediction In the ETH/BTC daily trading chart below, it can be seen that ETH has been making gains against the top cryptocurrency. The ETH/BTC trading pair has surged from 0.032 on November 21 to 0.04 at the time of writing. Continued strength against BTC is important for any potential upcoming altseason — a period marked by altcoins outperforming BTC as the latter continues to trade sideways within a range. Crypto analyst @venturefounder took to X to confirm that ETH has completed its first golden cross of the year on the daily chart. The analyst highlighted the bullish momentum a golden cross can impart to ETH’s price, stating: Last time this happened, Ethereum was still in the consolidation stages of the bear market but it still went +129%. In the 2021 bull market, the last goldencross took ETH +2,323%. For the uninitiated, a golden cross in trading is a bullish technical indicator that occurs when a short-term moving average crosses above a long-term moving average. In ETH’s context, the 50-day MA has crossed above the 200-day MA, a sign of a strong rally or trend reversal. Another crypto analyst Altcoin Sherpa indicated that if ETH decisively breaks through the $4,000 level, its next resistance level could be around the $4,800 to $5,000 price level. According to CoinGecko, ETH’s current all-time high (ATH) value is $4,878 recorded back in November 2021. It is also worth highlighting that Ethereum exchange-traded funds (ETF) are finally starting to get attention from institutional investors. According to data from SoSoValue, US-based spot ETH ETFs attracted $428 million in daily total net inflows on December 5. Altseason On The Horizon? Bitcoin dominance (BTC.D), a key metric often used to determine the onset of the altseason has been on a continual decline over the past three weeks. BTC.D has crashed from about 61% to 55%, indicating strong recent performance by altcoins against BTC. Altcoin’s resilience during yesterday’s BTC flash crash to $90,500 is another bullish sign hinting toward a potential altcoin rally in the coming days. In addition, altcoin analyst Crypto Amsterdam noted that it may be time for mid-cap altcoins to start their parabolic cycle. Related Reading: Ethereum Risk-Reward Ratio Is Now Attractive, Brokerage Firm Explains With high anticipation for an Ethereum ‘god candle’ that may catapult the digital asset to $5,000, the coming days are bound to be exciting for altcoin bulls. At press time, ETH trades at $4,000, up 2.5% in the past 24 hours. Featured image from Unsplash, charts from X and Tradingview.com
After months of struggling below the $4,000 price mark, Ethereum finally breached this notable resistance level on December 6, with a current trading price of $4,003, increasing by 2.7% in the past day. However, while this milestone has generated optimism among investors, market metrics indicate potential risks of profit-taking and corrections. Related Reading: Ethereum Crosses $3,800: Is The ‘God Candle’ Nearing? Analysts Weigh In Another Major Correction Incoming? A CryptoQuant analyst known as ShayanBTC has recently shared insights into Ethereum’s futures market behavior, highlighting a key indicator that suggests caution might be warranted. According to the analyst, Ethereum’s Taker Buy/Sell Ratio, a critical metric for analyzing market sentiment, has shown a substantial increase in sell-side activity. This development aligns with Ethereum’s approach to the $4,000 resistance level. The metric, which measures the aggressiveness of buyers versus sellers in futures markets, reveals that sellers increasingly dominate trades as the price edges upward. Shayan disclosed that Ethereum’s futures market participants appear to be locking in profits or preparing for a potential price correction. The Taker Buy/Sell Ratio has reached its lowest point in several months, indicating that market participants are leaning toward a risk-off stance. This trend suggests that the aggressive futures market sell orders could slow Ethereum’s upward momentum, paving the way for a potential pullback or consolidation phase. The analyst particularly wrote: The drop in the Taker Buy Sell Ratio implies a possible slowdown in upward price movement as more market participants take a risk-off approach. This aligns with anticipating a price pullback or a correction phase, making it crucial for traders to monitor the futures market for further developments. What Next For Ethereum? At the time of writing, Ethereum still hovers above $$4,000, up by 3.1% in the past day. This price increase has boosted ETH’s market cap above $482 billion as of today and its daily trading volume to roughly $56.7 billion. Notably, the drop in the Taker Buy/Sell Ratio highlighted by Shayan reflects an overall cautious sentiment among futures market participants, often a precursor to heightened market volatility. Related Reading: Ethereum To Pull A BTC 2021-Like Rally? Analyst Shares Massive Prediction While this does not necessarily signal the end of Ethereum’s rally, it highlights the importance of closely monitoring market developments. Should the selling pressure intensify, Ethereum may experience a price correction, offering opportunities for new entrants or long-term holders to accumulate at lower levels. Meanwhile, from a technical perspective, ETH might be on the verge of a major rally as it recently formed a golden cross (50DMA and 200DMA) on its price chart. $ETH goldencross (50DMA and 200DMA) has occured! Last time this happened, #Ethereum was still in consolidation stages of the bearmarket but it still went +129% In the 2021 bullmarket, the last goldencross took #ETH +2,323% pic.twitter.com/Wd7GGMc7O4 — venturefounder (@venturefounder) December 6, 2024 Featured image created with DALL-E, Chart from TradingView
As Bitcoin finally soars above the long-awaited $100,000 milestone, Ethereum (ETH) attempts to break out from a key resistance zone. The second-largest crypto rally has fueled optimism about its targets, with some suggesting that it could mimic BTC’s 2020-2021 rally. Related Reading: Bitcoin (BTC) Crashes 33% In South Korea Amid Increasing Political Turmoil Ethereum Reclaims $3,900 Ethereum, the second-largest cryptocurrency by market capitalization, has recorded a 10% surge in the past week, moving from the $3,500 mark to the $3,900 resistance. On Wednesday, the King of Altcoins surpassed the $3,800 level for the first time in six months and continued climbing to retest the $3,900 resistance, not seen since early March. In the early hours of Thursday, ETH turned this key zone into support, briefly dipping to $3,860 before jumping back to the recently reclaimed level. As the cryptocurrency nears its yearly high of $4,093, sentiment around the token’s short-term performance has turned extremely bullish. Ethereum is retesting a massive multi-year resistance zone, which could send ETH to a new ATH. According to analyst Alex Clay, the cryptocurrency attempts to break “through the Key Resistance Zone on the weekly timeframe.” ETH has rested the key zone five times since 2021, facing rejection from the upper resistance at $3,950 on four occasions before. However, Ethereum broke past this level in late 2021, when it hit its all-time high (ATH) and held above it for nearly three months. The analyst noted that if the King of Altcoins successfully breaks above this level and turns it into support, it will be the next “to break through” and smash its ATH. Clay added that he sees “no major pullback in the near time.” Similarly, crypto analyst Jelle stated that if Ethereum breaks above the March high, “all bets are off,” suggesting that the chances of ETH taking a long consolidation period before a new ATH like BTC did were “very low.” ETH To Rally Toward $10,000? Jelle also noted that Ethereum’s current setup mimicked Bitcoin’s in July 2020. Per the chart, Bitcoin broke through a multi-year downtrend line by mid-2020, followed by a massive 500% 10-month rally toward the $60,000 mark in April 2021. The analyst noted that ETH breached the multi-year trendline today, like BTC in 2020, which could trigger a similar rally toward new highs in the next few months. He added that investors are “in for a treat if this plays out anything similar.” In another post, he highlighted that Ethereum started rallying when Bitcoin broke its ATH and entered price discovery when BTC traded nearly 100% above its previous cycle high. Related Reading: Tron (TRX) Leads The Crypto Market With 100% Rally To New ATH, $0.5 Next? He considers that it would be surprising to “see things play out similarly this time around. BTC & ETH climbing in tandem, leading to ETH entering price discovery somewhere around ±$130,000.” Based on this, the analyst believes that a 150-200% rally toward the $10,000-$12,000 price range for the cryptocurrency is possible for this cycle. As of this writing, ETH is trading at $3,905, a 2.4% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Ethereum price is rising from the $3,650 zone. ETH is gaining pace and might soon aim for a move above the $3,950 resistance zone. Ethereum remained in a positive zone and stayed above the $3,680 zone. The price is trading above $3,770 and the 100-hourly Simple Moving Average. There was a break above a short-term bearish trend line with resistance at $3,870 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $3,890 resistance zone. Ethereum Price Eyes More Upsides Ethereum price remained well-bid above the $3,670 support zone. ETH formed a base and recently started a fresh increase above $3,720 beating Bitcoin. The bulls were able to push the price above the $3,780 resistance. There was a clear move above the 50% Fib retracement level of the downward move from the $3,956 swing high to the $3,680 low. Besides, there was a break above a short-term bearish trend line with resistance at $3,870 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,780 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,890 level. It is near the 76.4% Fib retracement level of the downward move from the $3,956 swing high to the $3,680 low. The first major resistance is near the $3,950 level. The main resistance is now forming near $3,980. A clear move above the $3,980 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,050 resistance zone or even $4,120. Another Pullback In ETH? If Ethereum fails to clear the $3,890 resistance, it could start another decline. Initial support on the downside is near the $3,820 level. The first major support sits near the $3,775 zone. A clear move below the $3,775 support might push the price toward the $3,720 support. Any more losses might send the price toward the $3,650 support level in the near term. The next key support sits at $3,620. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,775 Major Resistance Level – $3,890