Ethereum

<a href="https://yellow.com/asset/eth">Ethereum</a>’s recent price rally past $3,000 has revitalized interest in the cryptocurrency market. On-chain analysis reveals that retail investors are mostly holding onto their ETH, resisting the urge to sell despite the upward price momentum. This holding behavior is particularly noteworthy amid the current “Trump Trade” sentiment, which has mitigated risks and improved market conditions. 
CryptoQuant analyst, onatt, <a href="https://www.newsbtc.com/news/ethereum/is-ethereum-undervalued-investors-hold-firm-while-price-targets-rise/">indicates</a> that the trend of retaining ETH suggests many investors still find it “undervalued” even at its elevated price. One key factor supporting this trend is the limited movement of ETH to major exchanges like Binance and OKX, signaling that traders are not eager to offload their assets. 
Typically, an influx of ETH to exchanges implies looming selling pressure. However, a reduced flow suggests cautious optimism among retail investors. They appear to believe in Ethereum’s enduring potential. 
Central to this analysis is the Spent Output Profit Ratio (SOPR), as reported by onatt. This metric, close to a value of 1, shows that most Ethereum transactions occur near breakeven, indicating minimal profit-taking. The combination of low exchange inflow and SOPR data reflects strong confidence in Ethereum’s long-term growth. 
The analyst predicts that should Ethereum remain above the $2,800 level, it may set the stage for a swift advance toward $4,000. Currently, ETH persistently trades past the crucial $3,000 mark. Despite not matching Bitcoin's price surges, it remains stable above this psychological level. 
As of now, ETH has experienced a 0.2% growth over the last 24 hours, trading at $3,100. This valuation represents a 36.4% decline from its 2021 all-time high of $4,878. Analysts regard the present market price as a strategic buying opportunity. An enthusiast known as venturefounder conservatively predicts Ethereum reaching a price target between $10,000 and $13,000, envisioning a transformative phase for the cryptocurrency. 
Ethereum's trajectory remains a crucial focal point for investors, as its performance continues to exhibit stability and promise amid broader market fluctuations.

Ethereum's Price Potential Draws Bullish Analyst Predictions

Yellow News

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