Ethereum

Bitcoin

Momentum

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-struggles-for-bullish-momentum-as-market-awaits-direction">Ethereum Struggles for Bullish Momentum as Market Awaits Direction</a><br></p>
<p style="text-align: justify">Ethereum, the foremost smart contract platform and second-largest cryptocurrency by market capitalization, is facing challenges in its price trajectory. The altcoin has been underperforming, particularly when compared to <a href="https://en.bitcoinhaber.net/michael-saylor-ignites-crypto-expectations-with-bullish-2024-bitcoin-trajectory">Bitcoin</a> (BTC), and has not initiated the substantial rallies anticipated by investors. Despite the general market showing signs of recovery, Ethereum’s price dipped below the $1000 mark during the oversold period, raising questions about its short-term prospects.</p> 
<h2 id="ethereum-s-comparative-price-struggles">Ethereum’s Comparative Price Struggles</h2> 
<p style="text-align: justify">While Bitcoin has revisited its December 2021 price levels, Ethereum is yet to break the $3000 barrier. This disproportionate growth could lead to a scenario where Bitcoin reaches all-time highs, leaving Ethereum trailing significantly. Notwithstanding, Ethereum did witness a price increase from June 2022 but fell short of expectations. Recently, it attempted to breach a previous high but failed to sustain the momentum.</p> 
<h2 id="analysts-offer-mixed-ethereum-forecasts">Analysts Offer Mixed Ethereum Forecasts</h2> 
<p style="text-align: justify">The weekly Relative Strength Index (RSI) suggests a possible slowdown following the latest price increase. As Bitcoin moves away from $50,000, the market is bracing for potential volatility. Ethereum’s weekly chart readings may cast doubt, but daily chart analyses, which capture the most recent uptick, offer a fresh perspective. Analysts are split, with some predicting a brisk rise out of the bear phase, while others express concerns, citing significant Ethereum deposits to exchanges by a co-founder as a potentially alarming sign.</p> 
<p style="text-align: justify">One analyst sets an ambitious target of $10,000 for Ethereum in the next bull run, and others note a short-term breakout that could be the beginning of a climb towards $3,000. The daily chart presents an optimistic view, indicating that a close above $2,510 might break key resistance and spur a move towards $3,350. Conversely, a downturn could see prices retracting to as low as $2,300.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-struggles-for-bullish-momentum-as-market-awaits-direction">Ethereum Struggles for Bullish Momentum as Market Awaits Direction</a></h5>

Ethereum Struggles for Bullish Momentum as Market Awaits Direction

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