After a prolonged period of weakness against Bitcoin, Ethereum is showing signs of strength and could be poised for a significant move. Key Findings: Ethereum/BTC Chart Pattern: Raoul Pal, a renowned financial expert, highlights a compelling dual-chart pattern in the ETH/BTC trading pair. The formation of a “mega wedge” and an inner descending channel sets…
Key Takeaways: Ethereum’s price has surged over 30% in 2024, showing investor confidence. Over 800,000 ETH ($2.4 billion) has flowed out of cryptocurrency exchanges since the start of the year. The decrease in ETH’s exchange reserve balance could be a bullish catalyst for its price. Grayscale attributes Ethereum’s positive performance to the upcoming Dencun upgrade….
Ethereum has once again broken above the $3,000 mark, after previous attempts failed due to FOMO (fear of missing out). Brief Recovery In the past day, Ethereum (ETH) has rallied 3%, breaking back above $3,000. This is the third attempt at this level, with the previous two resulting in brief surges followed by retracements. Recent…
Whale Accumulation An Ethereum whale has purchased 64,501 ETH in the past three days, worth roughly $187 million. The whale acquired 13,526 ETH at an average price of $2,947 per ETH, adding to their substantial holdings. The whale withdrew 10,136 ETH from Binance while purchasing 3,390 ETH from 1inch. The whale’s wallet holds a total…
Fred Krueger, a crypto investor, believes Ethereum is overvalued at current prices. He refers to Ethereum’s declining on-chain activity, competition from alternatives like Solana and Avalanche, and regulatory uncertainty as reasons for its high valuation. Ethereum’s Challenges Krueger argues that Ethereum’s on-chain transactions are slow and expensive compared to scalable and low-fee alternatives. He also…
Analyst’s Bold Prediction Michaël van de Poppe, CEO of MN Trading, has predicted a surge in Ethereum’s value, projecting a range of $3,800 to $4,500. This bullish outlook comes as Ethereum currently trades around $2,980, outperforming Bitcoin amidst market challenges. Factors Driving Momentum Van de Poppe highlights several factors contributing to Ethereum’s bullish momentum: Outperformance…
Ethereum’s Surge and Expert’s Doubts Ethereum (ETH) has hit $3,000 for the first time since April 2022. However, Fred Krueger, a Bitcoin ETF expert, warns that the price is “completely detached from reality.” Why Ethereum May Be Overvalued Krueger points out that Ethereum’s active daily users have dropped from 120,000 in 2021 to just 66,000….
SEC Approval on the Horizon According to Bernstein, a leading asset management firm, the SEC is likely to approve an Ethereum Spot ETF. This would make Ethereum the second cryptocurrency, after Bitcoin, to gain SEC approval for an ETF. Timeline for Approval Bernstein predicts that an Ethereum Spot ETF could be approved by May 2023,…
Ethereum’s Rise Ethereum has surged past $2,900, marking its highest point since May 2022. This jump comes as Bitcoin has been moving sideways, highlighting Ethereum’s independent path. Profitable Week for Investors Over the past week, Ethereum investors have enjoyed profits of over 16%, outperforming Bitcoin’s 8% gains. Futures Market Overheating However, there are concerns about…
Bullish Momentum: Staking and ETF Surge Ethereum (ETH) is on the rise, edging closer to the $3,000 mark. Several factors are driving this bullish sentiment: ETH Staking Popularity: More investors are locking their ETH into staking contracts, reducing the available supply and creating upward price pressure. ETF Potential: The possible approval of an Ethereum Exchange-Traded…
