TronWeekly

Crypto World News

You are here: Home / Archives for Ethereum Price News

Ethereum Price News

Ethereum Whales Activity Surges: Will ETH Break $4,000 or Drop Below $3,650? Analyst Insight

by

Renowned crypto analyst Ali Martinez has brought attention to a notable trend in the Ethereum market. Over the past three weeks, the number of Ethereum addresses holding 10,000 or more ETH has surged by 3%. This increase indicates a significant spike in buying pressure among large-scale investors, often referred to as “whales.”

image 25 7

This uptick in large holders could signal a positive outlook for Ethereum, as increased accumulation by whales often precedes significant price movements. Investors and analysts alike are closely monitoring these developments, anticipating potential impacts on the broader crypto market.

As of the latest data, Ethereum’s price stands at $3,698.25, with a 24-hour trading volume of $12.20 billion and a market capitalization of $444.30 billion. Despite this bullish activity among major holders, the ETH price has slightly dropped 0.28% in the past 24 hours.

ETH 1D graph coinmarketcap 3

Will Ethereum Break $4,000 or Drop Below $3,650?

In a recent analysis, prominent crypto analyst Crypto Patel outlined potential scenarios for Ethereum (ETH) price movements. Patel’s insights delve into both bullish and bearish outcomes, providing a detailed forecast based on current trading patterns.

Ethereum (ETH) is currently trading within a bull flag or parallel channel pattern against the USDT. This setup typically indicates a period of consolidation before a potential breakout. Traders and investors are keenly observing these patterns to determine their next moves.

According to Patel, a bearish scenario could unfold if ETH breaks below the crucial support level of $3,650. Should this happen, Ethereum might experience a significant drop towards $3,152. This level is noteworthy as it represents the last Fair Value Gap (FVG), a region where prices previously moved quickly, leaving little traded volume behind.

image 25 8

On the other hand, if Ethereum manages to stay above the level of $3,152 support, then it turns into a bullish one. As Patel predicts, following this, ETH can rally up to $4,000 in the meantime. Go past that resistance, and a hugely bullish wave could knock Ether to $6,000-$7,000.

Crypto Patel’s analysis reiterates the importance of vigilance on important support and resistance levels in this existing trading scenario. Traders must remain alert and change their strategies according to these potential breakout points.

Related Reading |  DOGE Enters Key Wyckoff Phase: Major Spike Predicted Amid Market Volatility

Ethereum Price Analysis: Analysts Set Sights on $4,050 Amid Bullish Momentum

by

Ethereum (ETH) is experiencing a remarkable rise in value, breaking through resistance levels and setting the stage for a potential rapid increase. This shift in momentum marks a significant change from its earlier bearish trend as Ethereum transitions into a bullish phase. This positive development has not gone unnoticed, drawing substantial attention from analysts and investors who are optimistic about its future trajectory.

Over the past week, Ethereum’s price has increased by 9%, reflecting a strong upward trend. The broader market sentiment has also turned bullish, with Bitcoin leading the charge. As Bitcoin makes upward movements, it sets a positive tone for the entire cryptocurrency market. 

However, this has a ripple effect, with several altcoins gaining increased attention and experiencing significant surges in their values. Among these altcoins, Solana, Chainlink, and Avalanche (AVAX) are standing out, showing impressive performance alongside Ethereum.

At the time of writing, Ethereum’s price stands at $3,140.28. In the last 24 hours, its trading volume has reached $12.79 billion, with a market capitalization of $377.22 billion. This recent activity includes a 3.41% increase in its price within the last day, highlighting the ongoing positive momentum in Ethereum’s market performance.

ETH 1D graph coinmarketcap 16

Ethereum Breaks Out: Analyst Predicts $4,050 Target

Crypto analyst Crypto Yaper has shared an optimistic forecast regarding Ethereum’s future price movements. According to the analyst, Ethereum has broken out of a significant Falling Wedge formation, a bullish indicator that suggests further price increases. 

image 27 11

Crypto Yaper emphasized the potential impact of the anticipated Ethereum ETF (Exchange-Traded Fund) on the market, predicting that this development could drive Ethereum to new highs. The analyst has set a breakout target of $4,050, reflecting his confidence in Ethereum’s bullish momentum.

Adding to this positive outlook, another analyst, Daniel Ramsey, expressed similar sentiments about Ethereum’s price trajectory. Ramsey pointed out a Bullish Flag formation just below the $3,400 Key Supply Zone on the weekly chart, highlighting its importance as a critical level. 

image 27 10

The analyst suggested breaking through this zone would propel Ethereum above $4,000. Ramsey is highly optimistic, stating that Ethereum is on the verge of reaching an all-time high. The analyst outlined specific price targets, with the first target price (TP1) set at $4,000 and the second target price (TP2) at $4,470.

Related Reading | Genesis Global Granted Court Approval to Return $3 Billion to Customers

Ethereum’s Bullish Momentum Faces Critical Resistance Amid SEC’s Spot ETF Decision

by

Crypto e­xpert Ali Martinez noted that the­ TD Sequential indicator signaled a buy sign on Ethe­reum’s (ETH) daily price chart. This signal hints at a potential price­ increase, possibly lasting one to four candle­stick periods. It suggests ETH could expe­rience a short-term rally in the­ next few days.

image 26 2

At present, Ethereum’s price is $2,916.15. In the past 24 hours, the cryptocurrency has had a trading volume of $11.40 billion, and its market capitalization is $350.28 billion. Despite this positive buy signal, the price of ETH has experienced a marginal decline of 0.01% in the last 24 hours. 

Ethereum May Test $2500 Support Before Bullish Flag Breakout

Famous crypto analyst Crypto Patel has identified a major pattern in the ETH/USDT daily chart that points towards the continuation of an uptrend in Ethereum. According to Patel, ETH is forming a bullish flag pattern, a technical formation often indicative of further gains. Note the critical resistance level around $3200 and the 200-day Exponential Moving Average (EMA) standing approximately around a critical support level of $2632.22.

image 26 3

Recent market activity saw a fakeout near the resistance, where the price briefly moved above the resistance level but then fell back. The price of Ethere­um is now stable and may be gearing up for a bullish flag patte­rn breakthrough. Analyst Patel suggests that ETH might te­st the $2,500 support level be­fore this breakout. Trade­rs need to kee­p an eye on this critical point.

Another we­ll-known analyst, Cryptorphic, agrees with Patel’s analysis. Cryptorphic points out that Ethe­reum is upholding the bull flag pattern, with the­ $2,700-$2,800 support zone remaining intact. Howeve­r, Ethereum has yet to rise­ above the blue EMA and the­ upper trendline, which is crucial for confirming a bullish tre­nd.

image 26 4

Ethereum ETF Approval Could Drive Prices Higher

The SEC’s pending decision on whether to approve a spot Ethereum Exchange-Traded Fund (ETF), which is expected on May 23, 2024, is only building up market anticipation. Two questions arise from this decision: Will the spot ETH ETF be approved by the SEC, or will it delay or reject it? Is it possible for the spot ETH ETF to achieve what has been done by the spot BTC ETF?

This SEC ruling will significantly affect ETH’s price. If approved, it might increase Ethereum’s value, similar to Bitcoin’s spot ETF. Conversely, if delayed or turned down, it may stop the existing bullish momentum. Market players should, therefore, pay close attention to whatever they do until the SEC gives its verdict and also try to keep themselves updated regarding any regulatory developments.

Related Reading | PEPE Hits New All time high: Analyst Eyes Further Gains & Set Target at $0.00002000

Analyst Forecasts Ethereum’s Imminent Bounce On the Horizon, Here’s When

by

Ethereum’s recent performance has been catching the eye of market observers as it teeters on the brink of an upward surge. After dipping to $2,815, ETH staged a robust recovery, reaching $3,220. However, this momentum was short-lived, leading to a subsequent decline. Despite this setback, crypto analysts remain bullish on Ethereum’s prospects, identifying pivotal factors that could shape its future price trajectory.

Moreover, a significant event is looming on the horizon. The Securities and Exchange Commission (SEC) is poised to make critical decisions regarding three Ethereum Exchange-Traded Fund (ETF) applications by May 25th. This development holds immense significance for the Ethereum community and the ETH market. 

image 24 11

As of the current moment, the price of Ethereum stands at $2,972.28, accompanied by a 24-hour trading volume of $11.96 billion and a market capitalization of $357.01 billion. Over the past 24 hours, the price of ETH has experienced a 1.17% increase.

Analyst Predicts Imminent Bounce For Ethereum

Crypto analyst Titan Of Crypto shared insights regarding Ethereum’s price trajectory, indicating an impending bounce in its value. Highlighting the successful execution of the Bullish Cypher Pattern, all projected targets were met.

image 24 12

Presently, Ethereum finds itself at the pivotal 38.2% Fibonacci retrace level, often dubbed the “1st stop,” which historically serves as a crucial marker in bullish markets. An optimistic outlook anticipates a rebound from this juncture.

Furthermore, the sentiments echoed by analyst JACKIS underscored a reassuring stance, dismissing prospects of a colossal crash for ETH. Emphasizing Ethereum’s current expansive high timeframe (HTF) range, particularly noting its breakthrough to $4K in March, signifies a significant paradigm shift in market structure towards the upside.

Furthermore, a deeper probe into the local Weekly Market Structure (MS) shows sustained bullish momentum. Such a trend has been identified by Higher Lows (HL) and Higher Highs (HH), indicative of its dynamic nature as market swings. The ongoing corrective phase represents a natural pullback within the broader bullish trajectory. On the other hand, a bearish retreat on March 22, represented by the yellow highlight, brought about a further decline.

image 24 13

However, the reasonable course of action is to stick with the ongoing trend while it lasts. Trading upon breakouts based on mere wants can never be profitable. All Time High (ATH) is another major HTF level, achievable for those who exercise patience.

Related Reading | VeChain (VET) Holds Strong: Analyst Eyes $0.05 to $0.250 Range and Long-term $1 Target