Category Archives: Ethereum
Just Bitcoin? Keep an eye on Ethereum after the ‘ok’ to the ETF: "2024 could be explosive" By Investing.com – Investing.com UK
Investing.com - Investors continue to keep a close eye on the cryptocurrency sector and how it is affected by the approval of the ETF. Simon Peters, cryptoasset analyst at eToro, notes that "the impact on the Bitcoin price has been one of volatility. On the ETF's first day of spot trading (Thursday) it tested the $49,000 level for the first time in two years, before falling to $42,000, where it ended the week."
"Bitcoin currently trades at $42,400 but now that institutional investors can gain exposure to through a regulated vehicle, we could be looking at an explosive 2024," Peters highlights.
"Interestingly, ether was the best performing asset following the SEC announcement and is currently up 7% against bitcoin (as indicated by ) since the ETF's approval. Perhaps it is a sign that the market believes this could be the next cryptocurrency to get approval for a spot ETF application, given that it is the second largest cryptoasset by market capitalisation and that futures ETFs are already approved and available," he says.
As Peters advances, the focus will now turn to the next halving of the block reward, halving' (currently scheduled for 97 days from now, on 22 April 2024).
"Historically, halving (an event built into bitcoin's design, which decreases the mining reward by 50%) has marked the start of bitcoin's next bull market. The per-block reward will fall from 6.25 BTC to 3.125 BTC, and bitcoin's annual inflation rate will fall from around 1.7% to around 0.85%, below 1% for the first time," explains the eToro analyst.
In addition, Peters notes that "the bitcoin hashrate, which is a measure of the total computational power of the Bitcoin network) reached an all-time high of 630 EH/s (630 quintillion hashes per second) on 11 January following the expected SEC announcement".
"Since the Chinese mining crackdown in mid-2021, Bitcoin's hashrate has continued to rise regardless of market sentiment, cementing itself as the most secure cryptocurrency network and arguably one of the most secure computer networks in general," concludes this expert.
Translated from Spanish using DeepL.
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Analysts Favor Solana, Ethereum’s Supply Dynamics; Call Bitcoin ‘Godzilla Of Finance’: Messari Report By Benzinga – Investing.com UK
Benzinga - Bankruptcies, lawsuits, wins for the SEC, losses for crypto operators, bad actors and the spot Bitcoin ETF approval: the crypto space in 2023 was an eventful and remarkable year.
In its latest report, Messari highlighted crypto and its relevance in 2024.
What Happened: The Messari report termed Bitcoin (CRYPTO: BTC) as the Godzilla of Finance based on the ETF approval, in addition to accounting changes supporting companies holding Bitcoin and the trend towards digital cash.
Price Action: Bitcoin prices were trading 3.3% higher in the past 24-hour trading session, taking the crypto past two-month gains to 26%.
In its latest State of Bitcoin fourth quarter 2023 report, Messari indicated December NFT volume stood at $881 million, surpassing Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) combined. Inscriptions represented more than 40% of total fourth-quarter transactions.
Read Next: Grayscale And VanEck's Latest SEC Filings Ignite Hopes For Spot ETF, Crypto Trader Projects Bitcoin Rally To $250,000
According to Messari, DeFis short-term growth will be impacted amid ongoing regulatory headwinds, NFT activity looks dead. Stablecoins, gaming, decentralized social and infrastructure were estimated to move up gradually and steadily.
The report added, We probably wont see another 100x for Bitcoin, but the asset could easily outperform other established asset classes once again in 2024. Eventual parity with gold would yield a price per BTC of over $600,000.
With Ethereum surviving multiple technical challenges and market cycles, it had better supply dynamics than Bitcoin. Thus Messari was not betting against Ethereum.
Among almost all of its analysts, the Solana ecosystem remained the top pick. Based on DefiLlama data, the total value locked for Solana stood at $1.42 billion compared to $660.9 million on Dec. 5, 2023.
Amongst the big winners, Messari pointed to Render (CRYPTO: RNDr), Solana, Bittensor (CRYPTO: TAO) and Autonolas (CRYPTO: OLAS).
Why It Matters: Highlighting names to watch in 2024 for crypto space, Larry Fink of BlackRock and Cathie Wood of ARK Invest top the list. Elon Musk and Sen. Elizabeth Warren are mentioned, as are Circle executives Jeremy Allaire and Dante Disparte, as well as Grayscale's Michael Sonnenshein and Craig Salm.
Solanas Firedancer, Celestia (CRYPTO: TIA), BASE from Coinbase, Grayscale (OTCMKTS: GBTC), Lido and Project Guardian are some of the product experiences that Messari highlighted.
Also Read: Crypto Markets Stabilize With Sharp Decline In Liquidations, Yet Analysts Urge Caution
Photo: Solana, Courtesy Shutterstock
2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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2 Cryptocurrencies to Buy Hand Over Fist in January – The Motley Fool
After a huge rally in the crypto market in 2023, it's perhaps no surprise that many investors are now expecting a similar type of performance in 2024. While past performance is certainly no guarantee of future performance, there is definitely room for optimism as we enter the New Year.
In terms of overall growth prospects and the potential to skyrocket higher in 2024, Bitcoin (BTC 2.20%) and Solana (SOL 3.30%) particularly stand out. Here's a closer look.
It's almost impossible to talk about the 2023 crypto market rally without also mentioning Bitcoin. For the year, Bitcoin was up more than 150%. Bitcoin recently topped $45,000, and is now trading at its highest levels since April 2022.
Image source: Getty Images.
The key catalyst, of course, is the imminent launch of the first spot Bitcoin ETF for the U.S. market. There are now more than a dozen Wall Street firms that have submitted applications to the SEC, and regulatory approval of at least one of these is almost a certainty at this point. The new ETF potentially means new money flooding into Bitcoin, which should push up the price of Bitcoin over both the short term and long term. If big institutional investors decide to allocate just 1% of their multi-trillion-dollar portfolios to Bitcoin, the effect could be huge.
Even if you think that an efficient market has largely priced in the effect of this spot Bitcoin ETF, there's a second, even bigger, reason to buy Bitcoin hand over fist in January: The Bitcoin halving. This halving event, scheduled for April 2024, is largely expected to kick off a major rally in Bitcoin.
In three previous halving cycles (in 2012, 2016, and 2020), Bitcoin skyrocketed in value. In the 2020 halving cycle, for example, Bitcoin eventually soared to a new all-time high of $69,000. While another huge incoming rally is hardly a slam dunk, Bitcoin could soar past the $100,000 mark by the end of 2024.
In the final months of 2023, Solana gained tremendous momentum, and ended the year up nearly 1,000%. Thanks to this final year-end surge, Solana is now the fourth-largest cryptocurrency in the world.
The big question, of course, is whether this surge was driven by a huge speculative frenzy, or whether this rally was fueled by strong underlying fundamentals. After all, heading into 2023, Solana was pretty much left for dead. The crypto had lost more than 90% of its value, and the threat of "FTX contagion" made Solana toxic for many risk-averse investors.
But I'm firmly in the camp of investors who think that Solana has turned the corner over the past 12 months. Many key metrics used to evaluate a blockchain seemed to be trending in the right direction in 2023. By the end of the year, Solana was even showing signs of surpassing rival Ethereum (ETH 1.65%) in key areas such as non-fungible token (NFT) sales volume and decentralized exchange (DEX) trading volume.
And that's why I'm so bullish on Solana -- it has emerged as a serious competitor to Ethereum. As Cathie Wood of Ark Invest pointed out on CNBC, Solana is basically a faster, more cost-effective version of Ethereum. As such, it has a legitimate shot at becoming the preeminent Layer 1 blockchain platform in the world. As more users and developers migrate over to Solana, that will have a huge effect on Solana's ability to show growth in everything from NFTs to decentralized finance (DeFi).
If you take a look at Ethereum's market cap ($284 billion) and then compare it to Solana's market cap ($47 billion), it's possible to calculate just how much higher Solana might soar in the coming years. A $284 billion market cap for Solana would imply a price of nearly $600. But some analysts are predicting even higher valuations. Investment firm VanEck, for example, has suggested a price closer to $3,200 might be possible by the year 2030.
While the outlook for Bitcoin and Solana might appear very bullish right now, just keep in mind that the crypto market is notoriously volatile. Moreover, regulatory risk is always a factor. If regulators decide that they are not going to approve a spot Bitcoin ETF, for example, that might prove disastrous for the price of Bitcoin.
That being said, both Bitcoin and Solana have tremendous long-term growth prospects, and both seem to be riding a wave of positive sentiment from investors. If you are looking to turbo-charge the performance of your portfolio in 2024, Bitcoin and Solana could be worth a closer look.
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2 Cryptocurrencies to Buy Hand Over Fist in January - The Motley Fool
Ethereum (ETH) Price Poised for 2-3x Gains As Per These On-Chain Indicators – CoinGape
As the bitcoin (BTC) price jumped 7% shooting past $45,000 in the wake of Bitcoin ETF approval, altcoins too joined the party. The Ethereum (ETH) price is up once again by 2% in the last 24 hours, moving closer to $2,400.
On-chain indicators for Ethereum continue to show strength, suggesting a much larger rally ahead from here onwards. Predictions are already strong that the ETH price can rally all the way to $10,000 by this years end.
In a recent market analysis, renowned crypto analyst Ali Martinez expressed a bullish outlook for Ethereum (ETH). Martinez highlighted a promising path ahead for Ethereum, emphasizing the absence of significant supply barriers, which could pave the way for potential gains to $2,700 or beyond.
Additionally, the analysis pointed out a robust demand wall at $2,000, indicating substantial support that may act as a cushion in the event of corrections. The positive forecast aligns with the current market dynamics, reflecting optimism regarding Ethereums price trajectory in the near term.
In insights shared by crypto analyst Ali Martinez, the Ethereum MVRV Pricing Bands indicate pivotal price targets for the cryptocurrency. Martinez pointed out that, according to the data, the next significant price targets for Ethereum ($ETH) are identified at $3,830 and $5,100. This analysis provides valuable guidance for investors and market participants, shedding light on potential future price movements in the Ethereum market.
Another positive indicator for Ethereum is the sharp drop in the exchange supply. Data from Santiment reveals that the supply of ETH tokens on exchanges has reached an unprecedented all-time low since the inception of Ether.
As of the latest data, Ethereums supply on exchanges represents only 8.04% of the total ETH supply. This marks the lowest level recorded since the cryptocurrencys genesis. The on-exchange supply of an altcoin like ETH often plays a crucial role in influencing its market price. A decrease in the supply is generally perceived as a bullish indicator, suggesting a potential reduction in selling pressure on ETH.
Ethereum co-founder Vitalik Buterin recently shared a roadmap that seeks to improve the efficiency of the PoS system.
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Ethereum (ETH) Price Poised for 2-3x Gains As Per These On-Chain Indicators - CoinGape
Is Ethereum Finally Going to Break Above $2.4K? (ETH Price Analysis) – CryptoPotato
Ethereums price has encountered a significant obstacle at the critical $2.4K resistance, leading to an extended consolidation phase within this pivotal range.
This situation and the bullish sentiment in the futures market have heightened expectations for a potential bullish breakout.
By Shayan
A detailed examination of Ethereums daily chart reveals an ascending consolidation period, with the price approaching a substantial resistance at $2.4K. This zone includes the static $2.4K resistance and aligns with the upper boundary of a multi-month wedge pattern, forming a robust barrier. Despite this, ETH is displaying bullish momentum, attempting to break above this crucial range. A successful breach could see the price reclaim the $2.4K resistance, setting the stage for a renewed bullish surge.
However, considering the bearish divergence between the price and the RSI indicator, there is still a possibility of a bearish reversal.
Despite the overall bullish market conditions, a sudden rejection may lead to a sustained cascade towards the 100-day and 200-day moving averages. Therefore, caution is advised during these market conditions, given the potential for sudden impulsive movements.
Examining the 4-hour chart, Ethereum appears to be confined within a critical range, bordered by the substantial support at $2.1K and the significant resistance at $2.4K, resulting in sideways consolidation. Notably, the $2.1K level aligns with the crucial range between the 0.5 and 0.618 levels of the Fibonacci retracement, acting as a notable barrier against sellers.
Despite this consolidation, the price has recently surged, reaching its prior major high near the $2440 mark. However, the outcome hinges on whether buyers can reclaim the $2.4K resistance. If successful, an ascending trend is likely. Conversely, a rejection could lead to a market decline towards the lower threshold of the range.
By Shayan
Ethereums recent price performance has been notably bullish, bringing the market close to the $2.4 resistance region. However, a recent shift into a prolonged consolidation phase has raised questions among market participants about whether this marks the end of the mid-term bullish phase or is simply a correction.
Examining the sentiment in the futures market becomes crucial to address this uncertainty. The provided chart illustrates funding rates, a valuable metric indicating the sentiment in the futures market by showing whether buyers or short-sellers are executing orders more aggressively. Positive values generally indicate a bullish sentiment, while negative values suggest pessimism among futures traders.
Notably, the funding rates have consistently been positive, with recent trends showing an upward trajectory, signaling heightened bullish sentiment in the perpetual markets and fostering expectations for a bullish breakout. However, caution is advised, as excessively high funding rates could be interpreted as a bearish signal.
This scenario suggests the market might be on the verge of a long liquidation cascade. If such liquidations occur, the price is likely to experience a rapid decline toward the 200 and 100-day moving averages. Monitoring these metrics becomes crucial for anticipating potential shifts in market dynamics and adjusting strategies accordingly.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
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Is Ethereum Finally Going to Break Above $2.4K? (ETH Price Analysis) - CryptoPotato
Ethereum Bulls Sight New High In 2024 As BTC Pumps Above $45K – NewsBTC
Ethereum price is eyeing an upside break above the $2,440 resistance. ETH could rally like Bitcoin if there is a close above the $2,500 level.
Ethereum price found support near the $2,250 level and recently started a fresh increase. ETH managed to recover after Bitcoin pumped above the $44,400 resistance zone.
The price cleared the $2,300 and $2,320 resistance levels. There was also a break above a major bearish trend line with resistance near $2,300 on the hourly chart of ETH/USD. The pair climbed above the 61.8% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low.
Bitcoin is now trading above $2,350 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,400 level. It is close to the 76.4% Fib retracement level of the downward move from the $2,445 swing high to the $2,258 low.
Source: ETHUSD on TradingView.com
The first major resistance is now near $2,445. A close above the $2,445 resistance could send the price toward $2,500. The next key resistance is near $2,550. If the bulls remain in action and push ETH above $2,550, there could be a drift toward $2,620. The next resistance sits at $2,650, above which Ethereum might rally and test the $2,800 zone.
If Ethereum fails to clear the $2,400 resistance, it could start another decline. Initial support on the downside is near the $2,350 level.
The first key support could be the $2,320 zone. A downside break and a close below $2,320 might start another major decline. In the stated case, Ether could test the $2,250 support. Any more losses might send the price toward the $2,120 level.
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 level.
Major Support Level $2,320
Major Resistance Level $2,400
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Ethereum Bulls Sight New High In 2024 As BTC Pumps Above $45K - NewsBTC
Ethereum explorer Etherscan expands to Solana, acquires Solscan to serve ‘credibly neutral’ on-chain data – Crypto Briefing
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Etherscan, a prominent blockchain data provider, has acquired Solscan, a leading explorer for Solana, to expand its data services by integrating the two platforms. Etherscan announced details of the acquisition on X, saying that it hopes to continue providing credibly neutral and equitable access to blockchain data.
According to Etherscan, the integration aims to improve access and experience for the over 3 million monthly Solscan users by leveraging synergies in features and capabilities between the Ethereum and Solana explorers.
Etherscan explores Ethereum data including wallet transactions and token details, offering insights into individual wallets and tokens. Solscan is a blockchain explorer specifically for Solana, featuring comprehensive analytics and user-friendly access to transactions, addresses, contracts, blocks, and tokens. Though these features are not mutually exclusive and can be found in both, Solscan has a simpler interface and provides more intuitive visualizations.
Its worth noting that through this acquisition, Solscan will likely be included in Etherscans suite of products for its Explorer-as-a-Service (EaaS) offering, which includes explorers for major chains like Optimism, Arbitrum, Polygon, Linea, Scroll, and Base, among others.
The Solscan team has proven their expertise over the years by offering detailed insights and analytics. Their expertise in making blockchain data accessible and user-friendly also aligns perfectly with our mission at Etherscan, shares Matthew Tan, CEO and founder of Etherscan.
Etherscan claims that the broader goal of the acquisition is to make on-chain data easy to access, driving mainstream blockchain adoption.
Blockchain explorers serve a vital purpose they allow anyone to easily monitor activity on public ledgers. Services like Etherscan and Solscan help decode dense on-chain data into readable insight, helping contextualize information on transactions, tokens, NFTs, addresses, and more.
The acquisition can be seen as a response to demand for on-chain data as Solanas native cryptocurrency, SOL, experienced a sharp surge in 2023. Etherscan has not provided public information on the acquisitions price and terms.
Data from CoinGecko indicates that SOL ranks as the fifth largest cryptocurrency by market cap ($47 billion), with its spot price trading at $110, down 3.4% in the past 24-hour cycle. Using the same indicators and cycle, Ethereums ether (ETH) has a market cap of $283.8 billion, with the token trading at $2,360, down by -1.1%.
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Buterin’s ETH Roadmap Highlights State of Progress – CCN.com
Vitalik Buterin's Ethereum roadmap identifies key areas of development.
Key Takeaways
Alongside the Ethereum Foundations official roadmap, which organizes the platforms development plans along four goal-oriented themes, since 2021, founder Vitalik Buterin has published his own annual road map in parallel.
Continuing the tradition, on December 30 Buterin published the latest version of his Ethereum Roadmap, highlighting upgrades slated to transform the network in 2024 and beyond.
Although they differ in form and function, alternative roadmaps proposed by Buterin and the Ethereum Foundation are aligned on their general purpose: outlining Ethereums technical progress and plans for the future.
The Foundations schema features four themes: improving user experience, enhancing security, driving down transaction costs and future-proofing the Ethereum (ETH) network. Meanwhile, Buterins model is based around five overarching development goals. These are dubbed The Merge, The Surge, The Verge, The Scourge and The Purge.
Because the Foundations approach is open-ended, pointing to abstract goals rather than specific targets, measuring progress can be difficult. The community may agree that a given upgrade has enhanced Ethereums user experience or security, for example. But such improvements are better conceptualized as a journey than a destination.
On the other hand, Buterins roadmap identifies key stages in Ethereums development, making it easier to assess how far the platform has come and how far it still has to go before each one is complete.
According to one interpretation, The Merge was a single event that occurred on September 15, 2022. It was then that the Ethereum mainnet linked with the proof-of-stake Beacon Chain consensus layer.
However, Buterins roadmap sees the Merge as a more extensive change to Ethereum. It now embodies network participants collective adoption of a new consensus mechanism. It also represents the ensuing changes needed to overcome current challenges and to realize the full potential of proof-of-stake.
In 2023, Ethereums Shanghai/Capella upgrade enabled users to withdraw staked ETH for the first time.
The next Proof-of-Stake milestone identified by Buterin is the development of single slot finality (SSF). This should reduce the number of 12-second slots it takes to finalize each transaction from between 64 and 95 to just one.
Writing that SSF is the easiest path to resolving a lot of the Ethereum PoS designs current weaknesses, Buterin also highlighted the technologys security benefits. He often touts it as the best way to grow Ethereums validator count.
Many of the ongoing Ethereum upgrades identified in Buterins roadmap have remained the same since 2022. However, the network has reprioritized some areas to reflect its evolving needs and the current state of research.
For instance, Buterin has reduced the emphasis on Variable Delay Function (VDF) and State Expiry. These are two concepts Ethereum researchers are working on but may still be years away from realizing.
Meanwhile, new priorities have been added to the roadmap. For example, Buterin highlighted deep crypto and delay-encrypted mempools as two areas for exploration that could help advance Ethereums long-term progress.
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Buterin's ETH Roadmap Highlights State of Progress - CCN.com
Dymension Is the Latest Airdrop for Solana, Ethereum, and Cosmos Users – Decrypt
Its a new year, but airdrop season is continuing at full force into 2024. The latest: Dymension, a network for deploying app chains called RollApps, has revealed a token drop for more than a million crypto users across various chains and projects.
Dymension is a layer-1 blockchain built on Cosmos and the inter-blockchain communication protocol (IBC) to enable connections across various rollup scaling networks. Dymension standardizes rollups with IBC, similar to how tokens were standardized with ERC, Dymension wrote on Twitter (aka X), referring to Ethereums token standards.
The network lets RollApp creators choose which virtual machine and token to use, and can publish data to external chains like Celestia or Avail. Dymension CEO and co-founder Yishay Harel told Decrypt that the L1 network uses Ethereum Virtual Machine (EVM) addresses.
On Tuesday, Dymension revealed its genesis rolldrop, which offers up DYM tokens to eligible users until January 21. United States residents cannot participate in the airdrop. However, a wide array of other crypto users are eligible for the airdrop, with some 70 million DYM tokens (7% of the supply) being offered up.
Full details are available in this blog post, but eligible users include those who staked the TIA token in Celestia as of December 19, 2023, along with users of Ethereum layer-2 networks Arbitrum, Optimism, Base, and the upcoming Blast based on certain criteria.
Cosmos Hub and Stride users who meet certain eligibility can also claim DYM tokens, along with users of the Osmosis decentralized exchange (DEX).
More than 500,000 Solana users are also eligible, according to the post, including addresses that have used protocols like cross-chain bridge Wormhole, leading NFT marketplace Tensor, and NFT distribution platform Drip.Haus.
Additionally, owners of Pudgy Penguins, Mad Lads, Tensorians, and Bad Kids NFTs can also claim an allotment of DYM tokens. Pudgy Penguins is minted on Ethereum, Mad Lads and Tensorians are on Solana, and Bad Kids is on the Cosmos-based Stargaze chain.
Lastly, following the genesis airdrop, Dymension has proposed allocating a further 2.5 million DYM to users who bridge funds to the chain from other networks. Eligible tokens include USDC, TIA, USDT, ATOM, ETH, and SOL, with that program expected to begin about a week following the upcoming Dymension airdrop launch.
Dymension joins a growing list of networks and projects that are dropping their tokens lately, including recent high-profile airdrops from Jito and Pyth Network and upcoming drops from the likes of Jupiter, Starknet, Portal, Frame, and Blast.
Edited by Ryan Ozawa.
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Dymension Is the Latest Airdrop for Solana, Ethereum, and Cosmos Users - Decrypt
Ethereum Forecast: Builds Upward Pressure – DailyForex.com
At the end of the day, Ethereum's recent price movements reflect a pattern of buyers stepping in during dips, signaling a quest for value opportunities.
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When analyzing the support levels, the $2,100 mark stands out as a crucial support zone. Not only has it previously acted as resistance, but it also coincides with the presence of the 50-day Exponential Moving Average, which naturally garners attention from traders.
Similarly, the 20-day EMA has demonstrated its effectiveness in providing significant support. In essence, Ethereum currently benefits from multiple layers of support, which reinforces the notion that it may be only a matter of time before it experiences a substantial upward movement.
The $2,500 level could potentially serve as a point of resistance in the short term. However, surpassing this hurdle opens the door to further gains, with the $2,750 level representing the next potential target. Beyond that, the $3,000 level looms as a viable objective. It's important to recognize that Ethereum's ascent relies heavily on a robust risk appetite. Presently, indications suggest there is a favorable level of risk appetite in the market.
Nonetheless, it is important to acknowledge that Ethereum has recently experienced a notable upward surge. Consequently, it is sensible to anticipate a period of consolidation to alleviate some of the excess enthusiasm that has built up over the past few weeks.
Additionally, the prevailing liquidity conditions must be taken into consideration. Many traders, particularly institutional ones, are expected to be away from their trading desks during this timeframe. While Ethereum may not attract as much institutional trading activity as Bitcoin, it can still influence overall market behavior.
At the end of the day, Ethereum's recent price movements reflect a pattern of buyers stepping in during dips, signaling a quest for value opportunities. The anticipation of increased liquidity resulting from US rate cuts in 2024 has provided added impetus to the cryptocurrency markets. Ethereum boasts multiple layers of support, with $2,100 and the associated 50-day EMA being significant. The short-term outlook points to resistance around $2,500 but surpassing this level could open the door to further gains. However, a degree of consolidation is expected to work off the recent momentum, and the influence of liquidity conditions should not be underestimated.
Ready to trade ETH/USD? Heres a list of some of the best crypto brokers to check out.
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