The Ethereum (ETH) market may now be heading for a significant shift in momentum as its derivatives market continues to exhibit unprecedented growth. Particularly, while Bitcoin’s price action remains a dominant force in the market, Ethereum’s derivatives activity suggests that it could be gearing up for notable upward momentum. Related Reading: Is Ethereum Undervalued? Investors Hold Firm While Price Targets Rise New Highs In ETH Open Interest And Leverage Ratios According to a recent analysis by CryptoQuant’s EgyHash, the open interest in Ethereum has surpassed its previous all-time high, marking a 40% increase in just four months and exceeding the $13 billion threshold. The surge in open interest, which represents the total number of outstanding derivative contracts, reflects a growing engagement among traders and institutions in Ethereum’s market. Alongside this, EgyHash also mentioned that funding rates have turned moderately positive, signalling that long-position traders are currently dominant. This aligns with a sentiment favouring further price increases for ETH in the short term. The rise in open interest is not the only indicator of Ethereum’s increasing activity in derivatives markets. The CryptoQuant analyst pointed to Ethereum’s estimated leverage ratio. EgyHash disclosed that this metric which is calculated as the ratio of open interest to the exchange’s coin reserves, has also reached a new all-time high of +0.40. Commenting on what these rising metrics means for market participants, the CryptoQuant analyst wrote: While these trends underscore positive market sentiment toward ETH, it would be prudent to remain mindful of potential risks. The elevated leverage and dominance of long positions could increase the likelihood of a long squeeze if sudden price volatility occurs, potentially leading to market corrections. Ethereum Market Performance Regardless of the positive key metrics, Ethereum has continued to be one of the underperforming crypto in the market especially when compared to Bitcoin. Particularly, while Bitcoin has consistently being breaching major resistance to hit new highs, ETH still remains 36.2% decrease away from its all-time high of $4,878 registered in 2021. However, as of today, the asset seems to be gearing up for an uptrend. At the time of writing, Ethereum has surged by 0.9% in the past day with a current trading price of $3,112. Renowned analyst known as Ali on X has recently shared his outlook on the asset noting that Ethereum could outperform Bitcoin soon. The analyst backed this statement citing several key metrics and trends. Related Reading: Ethereum Price Faces Challenges: Will It Find Traction Soon? According to Ali, the altseason indicator is flashing buying opportunity and ETH’s MVRV momentum nears a key moving average suggesting significant upside potential. The analyst also mentioned the spot exchange-traded flows (ETF) Inflows and increasing whale Activity. Ali then suggested that Ethereum could test $4,000 and $6,000 levels based on an ascending parallel channel. He also highlighted a bullish theory on ETH’s potential to hit $10,000. But there is another bullish theory!#Ethereum could be mirroring the price action of the S&P500, which puts a $10,000 target on $ETH.https://t.co/ifn1zGnn9x — Ali (@ali_charts) November 19, 2024 Featured image created with DALL-E, Chart from TradingView
Ethereum (ETH) has consolidated since November 12, when it hit a local high of $4,446. Despite Bitcoin’s impressive rally capturing market attention, Ethereum has struggled to maintain upward momentum and reclaim its yearly highs. The price action reflects a period of indecision, as ETH faces challenges in breaking through significant resistance levels that could reignite bullish sentiment. Related Reading: Bitcoin Demand Outweighs Supply As LTH Enter Active Distribution Phase While Ethereum lags behind Bitcoin in performance, analysts remain optimistic about its potential for a breakout. Notably, Carl Runefelt, a prominent crypto analyst, recently shared a technical analysis suggesting that ETH is on the verge of a major move. According to Runefelt, Ethereum must push above a key resistance level to trigger a breakout and rejoin the broader market’s bullish trend. As the second-largest cryptocurrency by market cap, Ethereum’s next steps will be crucial for traders and investors watching the market closely. A breakout above resistance could signal the start of a new upward phase, while continued consolidation might test the patience of market participants. With technical signals aligning and speculation building, Ethereum’s price action in the coming days will likely set the tone for its performance in the weeks ahead. Ethereum Prepares To Surge Ethereum has been underwhelming in its price action since March, struggling to keep pace with Bitcoin’s performance. Despite a few notable surges, ETH has yet to achieve the breakout investors eagerly anticipate. Related Reading: Solana Analyst Expects A Retrace Before It Breaks ATH – Targets Revealed The prolonged consolidation has frustrated some traders, but an optimistic sentiment remains among those who believe Ethereum is poised for a significant rally once it clears key supply levels. Top crypto analyst Carl Runefelt recently shared his technical analysis on X, highlighting Ethereum’s current position within a bullish flag pattern. According to Runefelt, ETH has attempted to break out of this formation for the past two weeks, facing stiff resistance at critical supply zones. However, he remains confident that it could rapidly surge to $4,150 once Ethereum breaches this level. Such a move would mark a substantial percentage increase from current prices, sparking a wave of investor enthusiasm. The fear of missing out (FOMO) could drive additional buying momentum, creating a self-reinforcing price appreciation cycle. If ETH follows this trajectory, it would confirm the bullish flag breakout and signal Ethereum’s return to a dominant position in the crypto market. ETH Price Action: Technical Details Ethereum is trading at $3,120 following several days of sideways consolidation below its recent local high of $3,446. Despite the pause in upward momentum, ETH has shown strength by surging above the critical 200-day moving average (MA), currently at $2,957, and maintaining its position above this key technical indicator. The 200-day MA is often a pivotal line between bullish and bearish trends. Ethereum’s ability to stay above it signals robust support from buyers and growing confidence in the market. If ETH continues to hold this level, it could pave the way for a bullish surge, with the first target being the local top at $3,446. Beyond that, a break above this resistance level could see ETH aiming for yearly highs near $4,000, reigniting enthusiasm among traders and investors. Such a move would likely confirm Ethereum’s return to a sustained uptrend, aligning it more closely with Bitcoin’s recent bullish performance. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst Reveals Target However, losing the 200-day MA as support could introduce risks of a pullback, potentially sending ETH to retest lower levels. Ethereum’s price action remains strong, with the market eagerly watching for the next significant move. Featured image from Dall-E, chart from TradingView
Ethereum price started another decline below the $3,150 zone. ETH is struggling and might decline further below the $3,000 support zone. Ethereum is slowly moving lower below the $3,150 zone. The price is trading below $3,100 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,080 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if there is a close below the $3,000 support zone. Ethereum Price Struggle Continues Ethereum price attempted an upside break above the $3,200 resistance but failed unlike Bitcoin. ETH started a fresh decline below the $3,150 and $3,120 support levels. There was a move below $3,080 and the price tested $3,040. A low is formed at $3,033 and the price is now consolidating. It tested the 23.6% Fib retracement level of the recent drop from the $3,225 swing high to the $3,033 low. Ethereum price is now trading below $3,000 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,080 level. The first major resistance is near the $3,120 level or the 50% Fib retracement level of the recent drop from the $3,225 swing high to the $3,033 low. The main resistance is now forming near $3,180. A clear move above the $3,180 resistance might send the price toward the $3,220 resistance. An upside break above the $3,220 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,450 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,100 resistance, it could start another decline. Initial support on the downside is near the $3,030 level. The first major support sits near the $3,000 zone. A clear move below the $3,000 support might push the price toward $2,920. Any more losses might send the price toward the $2,880 support level in the near term. The next key support sits at $2,740. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,030 Major Resistance Level – $3,100
Ethereum (ETH) has been underperforming in this cycle, trailing far behind Bitcoin’s impressive rally to new all-time highs. While Bitcoin captures headlines with its continued surge, ETH struggles to reclaim its yearly highs, leaving many investors questioning its next move. Despite the lackluster price action, data from CryptoQuant CEO Ki Young Ju reveals a silver […]
Ethereum has experienced a noticeable surge in its price recently, trading above the psychological $3,000 price mark, which has reignited interest in the crypto market. According to on-chain analysis, retail investors appear to be adopting a “hold” strategy, resisting the urge to sell despite the increase in ETH’s value. Market analysts view This holding behavior as significant, especially considering the broader market sentiment influenced by the so-called “Trump Trade,” which has contributed to easing risks and enhancing market conditions. Related Reading: Ethereum Price Readies for a Fresh Climb: Will Momentum Build? Limited Ethereum Deposits To Exchanges According to the onatt, the CryptoQuant analyst behind the analysis, this trend of holding ETH without significant profit-taking suggests that many investors still perceive the cryptocurrency as “undervalued,” even at its elevated levels. Another factor onatt mentioned supporting this observation is the limited inflow of ETH to major exchange deposit addresses such as Binance and OKX, indicating that traders are not moving their assets to sell. Generally, large volumes of ETH flow into exchanges typically signal impending selling pressure. However, this has not been the case, reflecting a cautious but optimistic outlook among retail market participants. Key Metric Highlighting Investor Sentiment Another major metric the CryptoQuant analyst highlighted reinforcing this “hold” sentiment is the Spent Output Profit Ratio (SOPR), which tracks the profitability of spent coins. onatt reveals that this metric remains close to 1, indicating that most Ethereum transactions are happening near breakeven levels. This data indicates a lack of significant profit realization among ETH holders, highlighting a strong “buy and hold” sentiment. According to the analyst, when paired with low exchange inflows, this metric also suggests that investors are maintaining confidence in Ethereum’s long-term growth potential. Furthermore, onatt’s analysis suggests that as long as ETH maintains levels above $2,800, it could pave the way for a swift move toward the $4,000 range. So far, Ethereum is currently still trading above just above $3,000. While the asset’s price increase is nowhere near that of BTC, it has managed to maintain stability above the crucial psychological price level. Related Reading: Ethereum Price Confronts Barriers to a New Surge—Can Bulls Prevail? At the time of writing, ETH has surged by 0.2% in the past day with a current trading price of $3,100—a price mark that brings Ethereum a 36.4% decrease away from its all-time high (ATH) of $4,878 registered in 2021. Analysts have suggested that the current market price of ETH is a notable buying opportunity for the asset. A crypto enthusiast known as venturefounder has particualry predicted a “conservative” $10k-$13k price target for ETH. $ETH: road to $13k This could be a transformative cycle for #Ethereum. $10k-$13k is conservative. pic.twitter.com/q3Er9EG9gS — venturefounder (@venturefounder) November 19, 2024 Featured image created with DALL-E, Chart from TradingView
Ethereum price struggled to extend gains above the $3,220 resistance zone. ETH is slowly moving lower and approaching the $3,060 support. Ethereum is consolidating and facing hurdles near $3,200. The price is trading below $3,120 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,070 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $3,120 resistance zone. Ethereum Price Dips Again Ethereum price attempted an upside break above the $3,220 resistance but failed unlike Bitcoin. ETH started a fresh decline below the $3,150 and $3,120 support levels. There was a move below $3,100 and the price tested $3,070. A low is formed at $3,069 and the price is now consolidating. It tested the 23.6% Fib retracement level of the recent decline from the $3,224 swing high to the $3,069 low. Ethereum price is now trading below $3,120 and the 100-hourly Simple Moving Average. However, there is a connecting bullish trend line forming with support at $3,070 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $3,120 level. The first major resistance is near the $3,150 level or the 50% Fib retracement level of the recent decline from the $3,224 swing high to the $3,069 low. The main resistance is now forming near $3,220. A clear move above the $3,220 resistance might send the price toward the $3,350 resistance. An upside break above the $3,350 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,500 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,150 resistance, it could start another decline. Initial support on the downside is near the $3,060 level or the trend line. The first major support sits near the $3,000 zone. A clear move below the $3,000 support might push the price toward $2,880. Any more losses might send the price toward the $2,740 support level in the near term. The next key support sits at $2,650. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,060 Major Resistance Level – $3,150
Ethereum price started a consolidation phase near the $3,000 zone. ETH is slowly moving higher and might aim for a fresh surge above $3,220. Ethereum is consolidating and facing hurdles near $3,220. The price is trading above $3,150 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,130 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $3,220 resistance zone. Ethereum Price Faces Hurdles Ethereum price remained supported above the $3,000 level like Bitcoin. ETH formed a base and recently moved above the $3,120 and $3,150 resistance levels. There was a break above a key bearish trend line with resistance at $3,130 on the hourly chart of ETH/USD. The pair even cleared the $3,200 level and tested $3,220. A high was formed at $3,224 before there was a pullback. The price dipped below the 23.6% Fib retracement level of the upward move from the $3,051 swing low to the $3,224 high. Ethereum price is now trading above $3,150 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,200 level. The first major resistance is near the $3,220 level. The main resistance is now forming near $3,250. A clear move above the $3,250 resistance might send the price toward the $3,320 resistance. An upside break above the $3,320 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,450 resistance zone. Another Drop In ETH? If Ethereum fails to clear the $3,220 resistance, it could start another decline. Initial support on the downside is near the $3,140 level or the 50% Fib retracement level of the upward move from the $3,051 swing low to the $3,224 high. The first major support sits near the $3,050 zone. A clear move below the $3,050 support might push the price toward $3,000. Any more losses might send the price toward the $2,940 support level in the near term. The next key support sits at $2,880. 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 – $3,140 Major Resistance Level – $3,220
Ethereum price started a downside correction below the $3,150 zone. ETH is now consolidating near $3,120 and might attempt a fresh increase. Ethereum started a short-term downside correction below the $3,150 zone. The price is trading below $3,200 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $3,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains stable above the $3,040 zone. Ethereum Price Eyes Fresh Increase Ethereum price failed to start a fresh increase above the $3,250 zone and started a downside correction like Bitcoin. ETH declined below the $3,150 and $3,120 support levels. The bears even pushed the price below the $3,040 zone. It tested the $3,000 support zone. A low was formed at $3,016 and the price is now consolidating losses. It climbed above the 23.6% Fib retracement level of the downward move from the $3,340 swing high to the $3,016 low. Ethereum price is now trading below $3,200 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,120 level. There is also a short-term contracting triangle forming with resistance at $3,120 on the hourly chart of ETH/USD. The first major resistance is near the $3,180 level or the 50% Fib retracement level of the downward move from the $3,340 swing high to the $3,016 low. The main resistance is now forming near $3,220. A clear move above the $3,220 resistance might send the price toward the $3,320 resistance. An upside break above the $3,320 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,450 resistance zone. Another Decline In ETH? If Ethereum fails to clear the $3,320 resistance, it could start another decline. Initial support on the downside is near the $3,060 level. The first major support sits near the $3,040 zone. A clear move below the $3,040 support might push the price toward $2,980. Any more losses might send the price toward the $2,920 support level in the near term. The next key support sits at $2,880. 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 – $3,040 Major Resistance Level – $3,120
The US-based spot Ethereum ETFs have continued to experience a high market interest following Donald Trump’s emergence as the next US President. As institutional investors continue to position themselves for a massive crypto bull run, these Ethereum ETFs have now registered over $500 million in weekly inflows for the first time since their trading debut in July. Meanwhile, the spot Bitcoin ETFs maintain a splendid performance, closing another week with over $1 billion in inflows. Related Reading: Ethereum ETFs Record Largest Inflows Since August Amid ETH’s Rally To $2,900 Spot Ethereum ETFs Notch Up $515M Inflows To Extend 3-Week Streak According to data from ETF aggregator site SoSoValue, the spot Ethereum ETFs attracted $515.17 million between November 9-November 15 to establish a new record weekly inflows, as they achieved a 3-week positive inflow streak for the first time ever. During this period, these funds also registered their largest daily inflows ever, recording $295.48 million in investments on November 11. Of the total market gains in the specified trading week, $287.06 million were directed to BlackRock’s ETHA, allowing the billion-dollar ETF to strengthen its market grip with $1.72 billion in cumulative net inflow. Meanwhile, Fidelity’s FETH remained a strong market favorite with $197.75 million in inflows, as its net assets climbed to $764.68 million. Grayscale’s ETH and Bitwise’s ETHW also accounted for weighty investments valued at $78.19 million and $45.54 million, respectively. Other ETFs such as VanEck’s ETHV, Invesco’s QETH, and 21 Shares’ CETH experienced some significant inflows but of no more than $3.5 million. With no surprise, Grayscale’s ETHE continues to bleed with $101.02 million recorded in outflows, albeit retains its position as the largest Ethereum ETF with $4.74 billion in AUM. In general, the total net assets of the spot Ethereum ETFs also decreased by 1.2% to $9.15 billion representing 2.46% of the Ethereum market cap. Related Reading: Spot Bitcoin ETFs Draw Over $2 Billion Inflows As Ethereum ETFs Turn Green Again – Details Spot Bitcoin ETFs Remain Buoyant With $1.67B Inflows In other news, the spot Bitcoin ETFs market recorded $1.67 billion in the past week to continue its stunning performance of Q4 2024. While the Bitcoin ETFs saw notable daily outflows of over $770 million at the week’s end, earlier weighted inflows of $2.43 billion proved quite significant in maintaining the market’s green momentum. BlackRock’s IBIT, which ranks as the market leader and the best-performing crypto spot ETF, now boasts over $29.28 billion in inflows and $42.89 billion in net assets. Meanwhile, the total net assets of the spot Bitcoin ETF returned to above $95 billion, capturing 5.27% of the Bitcoin market. At the time of writing, Bitcoin trades at $90,175 with Ethereum hovering around $3,097. Featured image from FXTM, chart from Tradingview.com
Ethereum (ETH) is gearing up for an explosive bullish phase after decisively breaking above the crucial $3,000 mark. This milestone has fueled optimism among traders and investors, signaling a potential surge to new all-time highs. ETH’s recent price action demonstrates strong momentum, suggesting that the second-largest cryptocurrency by market cap is ready to reclaim its place in the spotlight. Renowned analyst and investor Carl Runefelt has bolstered this bullish outlook with a compelling technical analysis. Sharing his insights, Runefelt pointed out Ethereum’s impressive recovery and growing strength. He emphasized that if current momentum continues, the $6,000 milestone could be within reach sooner than many expect. Related Reading: Bitcoin Spot Is King – STH Selling Pressure Expected To Be Absorbed By ETFs According to Runefelt, Ethereum’s upward trajectory is supported by increasing network activity, heightened institutional interest, and broader adoption of its smart contract capabilities. The crypto market’s recent surge, led by Bitcoin’s new all-time highs, has created an environment ripe for Ethereum to follow suit. As traders focus on ETH’s potential to outperform other altcoins, all eyes are on whether it can sustain its breakout and push higher. The coming weeks will be crucial as Ethereum solidifies its position above $3,000, potentially paving the way for a rally that could redefine expectations for this cycle. Ethereum Testing Supply Ethereum is on the brink of a significant breakout as it approaches the last major supply levels before potentially embarking on a Bitcoin-like rally. After reclaiming its local highs with strong momentum, Ethereum has captured the attention of traders and investors looking for the next big move in the crypto market. Many believe the current consolidation phase is just the calm before a bullish storm. Runefelt recently shared a detailed technical analysis on X, highlighting Ethereum’s readiness for a massive bull run. Runefelt emphasized that ETH is mirroring Bitcoin’s recent explosive breakout, suggesting that Ethereum could be next to surge. According to his analysis, this may be the last opportunity to buy ETH at relatively low prices before the market takes off. Runefelt set an ambitious price target of $6,000, forecasting this level as attainable once Ethereum breaks through its final supply zones. Related Reading: XRP Breaks Above Multi-Year Resistance – Top Analyst Shares Price Target Ethereum’s potential rally is supported by a combination of technical strength and increasing demand for its smart contract platform. With Bitcoin setting new all-time highs, the market’s focus is gradually shifting toward altcoins, particularly Ethereum. If ETH breaks above its current resistance, it could ignite a wave of buying pressure that sends prices soaring to unprecedented levels. ETH Testing Technical Levels Ethereum is currently trading at $3,110, following a 12% retrace from its recent local highs. Despite the pullback, ETH continues to show resilience, holding firmly above the 200-day moving average (MA) at $2,955. This key demand level is a strong indicator of long-term market strength and suggests that Ethereum remains in bullish territory despite short-term volatility. The 200-day MA serves as a critical support zone, and its defense could pave the way for a significant rally in the coming days. If ETH maintains its position above this level for an extended period, it would signal renewed bullish momentum and set the stage for a breakout to higher supply zones. Related Reading: Solana ‘God Candle Is Close’ As It Breaks From Crucial Resistance – Top Analyst The next major resistance level for Ethereum is at $3,450. A successful breach and consolidation above this price point would confirm a breakout, positioning ETH to challenge its all-time high (ATH). Such a move could reignite bullish sentiment and attract new buying pressure from investors anticipating further gains. Featured image from Dall-E, chart from TradingView
Ethereum is back on an upward trajectory after finding solid footing at the $3,051 key support level, sparking hopes for continued bullish momentum. The recent rebound highlights the strength of buyers’ interest, as ETH resists bearish attempts to drive prices lower. As the uptrend resumes, traders are closely eyeing critical resistance zones that could shape […]
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
Ethereum price started a downside correction from the $3,450 zone. ETH is now consolidating and facing hurdles near the $3,250 resistance. Ethereum started a short-term downside correction from the $3,450 zone. The price is trading above $3,120 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,240 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it remains stable above the $3,120 zone. Ethereum Price Hits Support Ethereum price started a fresh increase above the $3,1200 resistance like Bitcoin. ETH was able to climb above the $3,220 and $3,320 resistance levels to move further into a positive zone. It even surged above the $3,400 level and traded to a new monthly high. A high was formed at $3,445 before there was a minor pullback. The price dipped below the $3,320 and $3,250 support levels. A low was formed at $3,124 and the price is now consolidating. Ethereum price is now trading above $3,120 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,230 level or the 50% Fib retracement level of the recent decline from the $3,340 swing high to the $3,124 low. There is also a connecting bearish trend line forming with resistance at $3,240 on the hourly chart of ETH/USD. The first major resistance is near the $3,260 level. The main resistance is now forming near $3,320. A clear move above the $3,320 resistance might send the price toward the $3,450 resistance. An upside break above the $3,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,550 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,250 resistance, it could start a downside correction. Initial support on the downside is near the $3,150 level. The first major support sits near the $3,120 zone. A clear move below the $3,120 support might push the price toward $3,050. Any more losses might send the price toward the $3,000 support level in the near term. The next key support sits at $2,880. 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 – $3,120 Major Resistance Level – $3,250
Negative sentiment is gradually growing in the general crypto market once again, with major digital assets like Ethereum, the second-largest cryptocurrency, witnessing a notable setback that led to a slowdown of its renewed upside price momentum. Due to the sudden drop, several crypto analysts believe that the altcoin could face an extended bearish movement shortly. Ethereum Set […]
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
Ethereum price extended its increase above the $3,220 resistance. ETH is now consolidating and facing hurdles near the $3,450 resistance. Ethereum started a fresh increase above the $3,120 resistance zone. The price is trading above $3,150 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,220 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it remains stable above the $3,150 zone. Ethereum Price Faces Hurdles Ethereum price started a fresh increase above the $3,000 resistance like Bitcoin. ETH was able to climb above the $3,120 and $3,120 resistance levels to move further into a positive zone. It even surged above the $3,350 level and traded to a new monthly high. A high was formed at $3,443 before there was a minor pullback. There was a move below the 23.6% Fib retracement level of the upward wave from the $3,070 swing low to the $3,443 high. Ethereum price is now trading above $3,150 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,220 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the upward wave from the $3,070 swing low to the $3,443 high. On the upside, the price seems to be facing hurdles near the $3,320 level. The first major resistance is near the $3,400 level. The main resistance is now forming near $3,450. A clear move above the $3,450 resistance might send the price toward the $3,580 resistance. An upside break above the $3,580 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone. Downside Correction In ETH? If Ethereum fails to clear the $3,320 resistance, it could start a downside correction. Initial support on the downside is near the $3,250 level and the trend line. The first major support sits near the $3,150 zone. A clear move below the $3,150 support might push the price toward $3,070. Any more losses might send the price toward the $3,000 support level in the near term. The next key support sits at $2,880. 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 – $3,250 Major Resistance Level – $3,320
Ethereum has recently climbed to a major high above $3,400, reigniting enthusiasm among market participants and signaling a potential upward trend that may lead to a push above $4,000 toward a new all-time high. This optimism has been met with major speculation of ETH’s price from the crypto community and analysts, who are observing key indicators within the market to assess the asset’s trajectory. Related Reading: Ethereum Weekly Volume Hits $60 Billion As ETH Aims For Yearly Highs Ethereum Rise and Market Sentiment According to a report shared by a CryptoQuant analyst known as ‘ShayanBTC,’ Ethereum’s recent price performance, up by 35% in the past week, has been accompanied by positive sentiment in the futures market, providing a detailed look into potential short-term fluctuations. Shayan pointed out that the funding rates for Ethereum futures have remained positive, demonstrating strong demand and bullish sentiment among investors. Notably, positive funding rates typically indicate buyers are willing to pay a premium to hold long positions, which signifies market confidence. The analyst highlighted that this surge in positive sentiment was especially evident when Ethereum surpassed the $3,000 mark, reflecting a similar pattern observed during the March 2024 rally that culminated in a yearly peak. This pattern now raises questions about whether the current momentum can be sustained or if the market is vulnerable to sudden reversals, just as it did following a major rally earlier this year. What Is Expected While positive funding rates are a favorable sign of market interest, they can also indicate heightened risk when they become too elevated. Shayan particularly noted: Although positive funding rates generally signify healthy demand in a bullish market, elevated funding rates can be a red flag. The analyst cautioned that high funding rates may point to an “overheated” market, which could increase the likelihood of a long liquidation cascade if the price faces significant resistance or experiences even a modest correction. Elevated rates suggest that traders may be over-leveraged, creating conditions where a sharp pullback could trigger a wave of sell-offs as leveraged positions are liquidated. The CryptoQuant analyst further revealed that with Ethereum experiencing high funding rates in the current market climate, investors may need to “exercise caution and adopt strategies to mitigate potential risks.” Related Reading: Ethereum Could Be Set To Explore New Highs As On-Chain Metrics Light Up The analyst emphasized that with heightened funding rates comes an increased chance of market volatility. Rapid price movements could lead to liquidations, particularly if profit-taking or minor corrections unsettle the market. Meanwhile, Ethereum has breached the $3,400 price mark to trade as high as $3,424 earlier today. However, at the time of writing, the asset appears to have seen a slight correction with a current trading price of $3,289, albeit still up by 2.2% in the past day. Featured image created with DALL-E, Chart from TradingView
On-chain data shows metrics related to network activity have spiked for Ethereum recently, something that could pave way for a further rally. Ethereum Transaction Volume & Whale Transfer Count Have Spiked Recently According to data from the on-chain analytics firm Santiment, Ethereum has seen an uplift in two activity-related metrics. The indicators in question are the Transaction Volume and the Whale Transaction Count. The first of these, the “Transaction Volume,” keeps track of the total amount of the cryptocurrency (in USD) that users on the ETH network are shifting across the network with their transactions. Related Reading: Dogecoin To As High As $23? This Pattern Could Hint So When the value of this metric is high, it means the ETH blockchain is processing the transfer of a large number of coins right now. Such a trend suggests the investors actively invest in asset trading. On the other hand, the low indicator implies the interest in the cryptocurrency may currently be low as the holders are only moving around a low amount of ETH. Now, here is a chart that shows the trend in the Transaction Volume for Ethereum over the last few months: As displayed in the above graph, the Ethereum Transaction Volume has registered a sharp surge recently, implying interest in the asset has increased alongside the price rally. This could be considered a constructive development for the cryptocurrency, as an increasing network activity is generally required for rallies to be sustainable. In the past, some price moves have kicked off sharply, but the Transaction Volume didn’t register much of an increase at the same time. Such moves generally died out before long. The chart also contains the data for the other metric of relevance here, the “Whale Transaction Count.” This indicator measures the total amount of ETH transfers valued at more than $100,000. Transactions of this scale are assumed to be coming from the whale entities, so the Whale Transaction Count reflects the activity level of the big-money investors. From the graph, it’s apparent that this indicator has also spiked for Ethereum recently, which implies that the recent increase in the volume isn’t just a sign of interest from the smaller investors but also the humongous hands. Naturally, it’s impossible to say based off these indicators alone, whether the investors are buying or selling, as all types of transactions look the same from their view. Because ETH has seen a sharp rally recently, this activity has probably been for accumulation so far. Related Reading: Bitcoin Holder Profits Now 121%: How Much Higher Can BTC Go? The analytics firm explains, Expect any growth from Bitcoin, during this bull run, to see profits redistribute into Ethereum and potentially push it toward its own all-time high while its network activity looks very healthy. ETH Price After observing a surge of more than 27% over the last seven days, Ethereum has broken beyond the $3,150 level. Featured image from Dall-E, Santiment.net, chart from TradingView.com
Ethereum price started a fresh increase above the $3,120 resistance. ETH is showing positive signs but struggling to catch up Bitcoin’s momentum. Ethereum started a fresh increase above the $3,000 resistance zone. The price is trading above $3,120 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,230 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $3,350 resistance. Ethereum Price Eyes Steady Increase Ethereum price started a fresh increase above the $2,880 resistance like Bitcoin. ETH was able to climb above the $3,000 and $3,120 resistance levels to move further into a positive zone. It even surged above the $3,250 level in the past few sessions. It is up over 5% and there was a move above $3,350. A high is formed at $3,390 before there was a minor pullback. There was a move below the 23.6% Fib retracement level of the upward wave from the $3,080 swing low to the $3,390 high. Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,230 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the upward wave from the $3,080 swing low to the $3,390 high. On the upside, the price seems to be facing hurdles near the $3,350 level. The first major resistance is near the $3,390 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,680 resistance zone. Are Dips Limited In ETH? If Ethereum fails to clear the $3,350 resistance, it could start a downside correction. Initial support on the downside is near the $3,280 level. The first major support sits near the $3,250 zone and the trend line. A clear move below the $3,250 support might push the price toward $3,150. Any more losses might send the price toward the $3,080 support level in the near term. The next key support sits at $3,000. 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 – $3,250 Major Resistance Level – $3,350
CoinShares, a leading crypto asset management firm, released its latest “Digital Asset Fund Flows Weekly Report,” highlighting a notable surge in investment inflows following the US elections. $116 Billion Record High Crypto Fund Flows The report revealed that digital asset investment products attracted $1.98 billion in inflows, bringing global assets under management (AuM) to a […]
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 price started a fresh increase above the $3,000 resistance. ETH is up over 10% and now approaches the key barrier at $3,250. Ethereum started a fresh surge above the $2,880 resistance zone. The price is trading above $3,000 and the 100-hourly Simple Moving Average. There is a new bullish trend line forming with support at $3,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $3,250 resistance. Ethereum Price Regains Momentum Ethereum price started a fresh increase above the $2,750 resistance like Bitcoin. ETH was able to climb above the $2,880 and $3,000 resistance levels to move further into a positive zone. It even surged above the $3,120 level in the past few sessions. It is up over 10% and there was a move above $3,150. A high is formed at $3,249 before there was a minor pullback. There was a move below the 50% Fib retracement level of the upward move from the $3,020 swing low to the $3,249 high. However, the bulls were active near the $3,080 level and the 76.4% Fib retracement level of the upward move from the $3,020 swing low to the $3,249 high. Ethereum price is now trading above $3,120 and the 100-hourly Simple Moving Average. There is also a new bullish trend line forming with support at $3,120 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $3,200 level. The first major resistance is near the $3,250 level. The main resistance is now forming near $3,300. A clear move above the $3,300 resistance might send the price toward the $3,350 resistance. An upside break above the $3,420 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,500 resistance zone. Are Dips Supported In ETH? If Ethereum fails to clear the $3,250 resistance, it could start a downside correction. Initial support on the downside is near the $3,150 level. The first major support sits near the $3,120 zone and the trend line. A clear move below the $3,120 support might push the price toward $3,080. Any more losses might send the price toward the $3,050 support level in the near term. The next key support sits at $3,000. 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 – $3,120 Major Resistance Level – $3,250
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
Parfin’s Ethereum Layer-2 chain, Rayls, was recently featured in JP Morgan’s blockchain-focused business unit’s Project EPIC, highlighting the network’s secure and compliant identity solutions to address privacy needs in regulated financial markets. Related Reading: Interview With 3Commas CEO Yuriy Sorokin On Automated Trading, Tokenization, And What’s Next For Crypto Adoption Parfin’s Ethereum L2 Blockchain Privacy […]
Following Donald Trump’s victory in the US presidential election on November 5, Ethereum (ETH), alongside the general cryptocurrency market, has experienced notable price gains. In particular, the second-largest cryptocurrency has witnessed its value increase by 24.31% in the past four days as it approaches a crucial $3,000 resistance zone. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH – Time To Buy Altcoins? Ethereum Prepares For Potential Surge As Funding Rates Hit 0.02 Amidst the recent price rally in the last week, crypto analyst Burak Kesmeci notes that Ethereum funding rates have now climbed above 0.02, which can be described as a strong bullish signal. Generally, funding rates are periodic payments made between traders in the perpetual future contracts during funding intervals. A funding rate of 0.02 indicates long position domination and demands that long traders pay 2% of the notional value of their position to short traders in order to maintain the price of perpetual contracts close to the spot market price of an asset. According to Kesmeci, long positions in futures markets are crucial to initiating strong bull rallies in the same vein as spot market acquisitions. Interestingly, historical data as shared by the analyst shows that Ethereum has consistently experienced a major price uptrend whenever funding rates have risen and stayed above 0.02. For context, when funding rates hit 0.02 on July 1, 2020, the ETH market recorded a price gain of over 100% in 50 days. Likewise, on November 2, 2020, Ethereum also embarked on a bullish course surging by over 1000% in 350 days. Most recently, Kesmeci notes that the altcoin’s price grew by 150% in 150 days as the funding rates crossed 0.02 on October 4, 2023. Therefore, the analyst postulates ETH may be primed for a robust bullish run in the coming days. In addition, this potential uptrend is expected to influence other altcoin markets due to Ethereum’s position as the largest altcoin by market cap. Related Reading: Ethereum L2 Project Spark Launches On-Chain Order Book On Fuel Network To Enhance Trading ETH Meets Crucial $3,000 Resistance Level With Ethereum’s price hovering above $2,900, the token is set to soon encounter a major resistance at the $3,000 price mark. According to a report by blockchain analytics company IntoTheBlock, this particular resistance level which can be described as a historically significant demand zone is normally expected to provide much opposition to Ethereum’s ascent. However, the current bullish momentum in the ETH market is likely to subdue this resistance, allowing the asset to maintain its current rally. If Ethereum breaks beyond $3,000, the altcoin could attain a $4,000 price target. Albeit a rejection would result in ETH trading as low as $2,400. At the time of writing, Ethereum continues to trade at $2,970 following a 0.98% gain in the last day. Featured image from Mandrex, chart from Tradingview
Ethereum (ETH) registered a remarkable performance following Donald Trump’s victory in the November 5 US elections. The second-largest cryptocurrency by market capitalization has jumped 21.9% in the past three days, reigniting investors’ bullish sentiment for the crypto and ETH-based investment products. Related Reading: Ethereum L2 Project Spark Launches On-Chain Order Book On Fuel Network To Enhance Trading Ethereum ETFs See Third Best-performing Day Amid ETH’s price rally, spot Ethereum exchange-traded funds (ETFs) have recorded their best-performing day in 13 weeks. Launched in late July, ETH ETFs have seen a shaky performance in the past few months. The crypto investment products surpassed experts’ expectations during its first two days. However, ETH ETFs recorded massive outflows amid Q3 market retraces. Ethereum-based products saw their second-largest single-day inflow since launch during the early August correction. As the market recovered from the crash, Ethereum ETFs registered $98.4 million in positive net flows, led by Blackrock’s ETHA. Since then, the crypto products have struggled to break past the $20 million mark, only registering inflows above that range five times in three months. ETH’s current rally has seemingly improved sentiment around the cryptocurrency and the investment products based on it, as it has recorded a notable performance during the last two days. Ethereum ETFs recorded their best-performing day in six weeks, seeing $52.3 million in inflows on Wednesday. Meanwhile, the investment products saw their third-largest single-day performance on Thursday and their best day since August 6, with $79.7 million in inflows. ETH Rallies 16%, Is $3,500 Next? Ethereum has seen a massive 16.6% surge in the last seven days, jumping from the $2,500 support zone to the $2,900 mark lost mid-Q3. The “King of Altcoins” lost the $3,000 support zone in early August, recording a 23% correction during the market retraces. The cryptocurrency struggled to break past the crucial $2,800 resistance level, being rejected from this level for the past three months. However, Republican candidate Donald Trump’s victory in the Thursday presidential elections has given the whole crypto market a renewed push toward the second leg of the bull run. In the last three days, the flagship cryptocurrency, Bitcoin (BTC), has entered price discovery mode, setting its latest all-time high (ATH) at $76,800 on Thursday. Meanwhile, Ethereum saw its price move from the $2,400 range to near the long-awaited $3,000 resistance. Crypto analyst Rekt Capital noted that ETH’s recent performance filled its GME gap, which formed in early August. The gap saw ETH’s price go from $3,000 to $2,700 before crashing on August 5. Related Reading: Solana (SOL) Looks ‘More Bullish Than Before’ After Flipping BNB As 4th Largest Crypto Per the analyst, a weekly close above the current levels, followed by a retest, would confirm ETH’s breakout from the 3-month range. Moreover, reclaiming the $2,900 resistance would “set ETH up for a move to $3,500 over time,” which could further propel Ethereum’s rally toward its yearly high above $4,000. As of this writing, Ethereum is trading at $2,925, a 4.2% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com
The Ethereum Foundation (EF) released its annual financial report earlier today, revealing substantial holdings and a commitment to transparency and long-term sustainability. Ethereum Foundation Holdings As of October 31, 2024, the EF disclosed that its treasury holds approximately $970.2 million, with $788.7 million in crypto assets and $181.5 million allocated to non-crypto investments and assets. […]
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