Ethereum

Donald Trump

<p>The <a href="https://coinpedia.org/news/crypto-news-today-nov-7th-2024-bitcoin-price-stays-at-74k-ldo-becomes-top-gainer/" target="_blank" rel="noreferrer noopener">cryptocurrency market</a> has been buzzing with excitement following Donald Trump’s second <a href="https://coinpedia.org/news/2024-us-elections-result-donald-trump-officially-elected-president/" target="_blank" rel="noreferrer noopener">U.S. presidential victory</a>. With his win, buying activity surged, and the market saw a noticeable shift. Bitcoin, the market leader, surged 10%, hitting a new all-time high (ATH) of $76,203, signaling a renewed sense of optimism among investors. </p>   
<p>But it’s not just Bitcoin that’s making headlines—Ethereum, the second-largest cryptocurrency, is also seeing impressive gains, reaching $2,878, while its Spot ETF records massive inflows. </p>   
<p>With these movements raising many questions, one stands out: Could Ethereum be gearing up for its own explosive rally? The stage seems set for a potential breakout, but what’s driving this surge, and what could come next? Let’s dive in.</p>   
<h2 class="wp-block-heading" id="h-ethereum-still-cheap-to-buy">Ethereum Still "Cheap" To Buy</h2>   
<p>Ethereum recently broke through the crucial $2,780 resistance level, seeing an 8% price increase. This is the first time since August that Ether has surpassed the $2,800 mark, catching the attention of many traders. With this breakout, Ethereum may just be getting started.</p>   
<p>Dan Tapiero, founder of 10T Holdings, believes Ethereum is still "too cheap" at its current price and predicts it could rise above $8,000 within the next year. Despite Ethereum’s strong 25% growth in 2024, Tapiero argues it remains undervalued.</p>   
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<p>With <a href="https://coinpedia.org/news/bitcoin-hits-new-highs-76203-is-chainlink-ready-to-soar-to-40/" target="_blank" rel="noreferrer noopener">Bitcoin already hitting new all-time highs</a>, Tapiero suggests that Ethereum could follow suit with its own significant rally.</p>   
<h2 class="wp-block-heading" id="h-spot-ether-etf-hits-6-week-high">Spot Ether ETF Hits 6-Week High</h2>   
<p>One of the major factors driving Ethereum’s rise is the increased interest in spot Ethereum exchange-traded funds (ETFs). On November 6, these nine ETFs recorded their highest inflows in six weeks, <a href="https://farside.co.uk/eth/" target="_blank" rel="noreferrer noopener nofollow">reaching $52.3 million in total</a>.&nbsp;</p>   
<p>The largest inflows came from the Fidelity Ethereum Fund ($26.9 million) and the Grayscale Ethereum Mini Trust ($25.4 million), showing strong investor interest. Although some funds experienced outflows, the overall outlook for Ethereum remains positive.</p>   [post_titles_links postid="376946"]   
<h2 class="wp-block-heading" id="h-what-s-next-for-ethereum">What’s Next for Ethereum?</h2>   
<p>Looking ahead, Ethereum faces resistance around the $2,850 level, with more challenges at $2,880 and $2,950. However, if Ether manages to break through these levels, it could quickly move towards $3,000, potentially triggering a larger rally. Analysts like Benjamin Cowen suggest that if the <a href="https://x.com/intocryptoverse/status/1854335584065491026" target="_blank" rel="noreferrer noopener">ETH/BTC ratio</a> rises above the <a href="https://coinpedia.org/traders/what-is-moving-average-indicator/" target="_blank" rel="noreferrer noopener">Simple Moving Average</a> (SMA), Ethereum could see more growth.</p>   
<p>With strong buying interest, record ETF inflows, and optimistic predictions from top analysts, Ethereum looks ready for a potential breakout. If it continues to gain momentum and breaks through key resistance levels, Ethereum could be on the verge of a major rally, making it an exciting asset to watch.</p>

Ethereum Price Hits $2.9K as ETH Spot ETFs Drive Record Inflows – Grab It While You Still Can!

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