The feelings around ethereum It seems to be very bullish at the moment as it has seen the second largest crypto token by market cap. your domain wave against bitcoin. ethereum's rise against the flagship crypto token is also significant, as crypto analyst Jaydee claims. recently suggested which could mark the beginning of the altcoin season.
Bullish predictions for ethereum price
crypto-capital-inflow-2-years/” rel=”nofollow”>Cryptographic analyst Ali Martínez recently highlighted the fact that ethereum burst out of a bitcoin-price-analysis-btc-ascending-triangle-holds/” rel=”nofollow”>ascending triangle on the weekly chart. According to him, the crypto token has its eyes set on the $3,400 price level despite the short-term volatility. Backing Ali's analysis, cryptanalyst Mayne shared his belief that $3,400 remains a viable target for eth price.
Interestingly, Mayne hinted that “eth betas” could run alongside eth when this major price surge starts to occur. These beta versions of eth include tokens such as the native tokens of ethereum's layer 2 networks, Optimism and Arbitrum.
crypto analyst Ash crypto also offered a bullish prediction for eth price while commenting on the state of the market. He commented that money was currently flowing from bitcoin to ethereum and that it shouldn't be long before the latter trades above $3,200.
eth trading above the $3,000 price level seems to be the consensus based on these predictions. The CEO and founder of MN Trading, Michaël van de Poppe, had already He suggested that eth was also going to rise above $3,000 on its way to $3,500. Poppe then boldly claimed that this price prediction would materialize in the first quarter of 2024.
Meanwhile, crypto analyst ColdBloodedShill stated in a recent x publication that eth is probably planning for higher prices as long as it stays above $2,400. The $2,400 price range appears to be an important support level as eth looks to break out. crypto analyst Bluntz Capital also highlighted that price range ($2,495 specifically), as he noted that there will be an eventual breakout as long as eth stays above that level.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2024/01/Here-Are-The-Most-Bullish-Predictions-For-ETH-Price-As" alt="Tradingview.com ethereum Price Chart” width=”3266″ height=”1530″ loading=”lazy”/>
eth bulls struggle at $2,500 | Source: ETHUSD on Tradingview.com
The conviction that ethereum is getting stronger
Santiment market intelligence platform recently revealed that the number of new eth addresses is increasing as ethereum continues to outperform bitcoin. It is said that during this stretch 89.4 thousand addresses were created daily. This represents a significant increase from the end of last year, when 70.4 addresses were created daily in early November.
Santiment also added that eth supply on exchanges had dropped sharply to 8.10%, almost approaching its all-time low (from the first week of trading) of 8.05%. Such a development generally suggests that ethereum-long-term-holders-percentage-surpasses-btc/” rel=”nofollow”>eth Holders They are looking to stay long-term as they move their holdings into self-custody.
Featured image from TechRadar, chart from Tradingview.com
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