Ethereum

Value

Momentum

Optimism

<ul class="wp-block-list">
 <li>Ethereum's $3,000 support is reinforced by 6.14M ETH purchased by 2.82M wallets, indicating strong market confidence.&nbsp;&nbsp;</li>  
 <li>Analysts predict Ethereum could hit $10,000, supported by whale accumulation of 430,000 ETH worth $1.4B in two weeks.&nbsp;&nbsp;</li>  
 <li>On-chain metrics and ascending channel patterns signal Ethereum's potential rise to $4,000, $6,000, and possibly $10,000.&nbsp;</li> 
</ul>  
<p>Ethereum’s price has remained steady around the $3,100 level, despite the cryptocurrency market rallying over the past few weeks. Notable analysts are predicting a significant upward trend for Ethereum, signaling the possibility of it outperforming Bitcoin in the coming months. Recent whale activity and on-chain metrics suggest that Ethereum might rally to the $10,000 mark, drawing attention from investors and traders alike.&nbsp;&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/ali_charts/status/1859014192701075477
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-key-support-levels-strengthen-ethereum-s-position"><strong>Key Support Levels Strengthen Ethereum’s Position</strong></h2>  
<p>Notably, the cryptocurrency has <a href="https://cryptonewsland.com/ethereum-etfs-hit-record-515m-inflows-yet-outflows-mark-a-rocky-finish/" target="_blank" rel="noopener noreferrer nofollow">experienced</a> a 10% correction from its November high of $3,400. However, Ethereum’s price continues to hold the crucial $3,000 support level. According to data, nearly 2.82 million wallet addresses purchased a total of 6.14 million Ethereum tokens at this level.</p>  
<p>Consequently, this strong buying activity demonstrates resilience and a solid foundation for further price movement. Analysts believe this support will act as a springboard for the next price surge.&nbsp;&nbsp;</p>  
<h2 class="wp-block-heading" id="h-bullish-patterns-and-momentum-building-for-ethereum"><strong>Bullish Patterns and Momentum Building for Ethereum</strong></h2>  
<p>Ali Martinez, a popular crypto analyst, pointed out that Ethereum’s price might first target $4,000 and then $6,000 based on the ascending channel pattern. This pattern has historically led to strong upward trends. Martinez also highlighted that Ethereum could mirror the rally in the S&amp;P 500, which could push its price to $10,000.&nbsp;</p>  
<p>Moreover, another analyst, IamCryptoWolf, echoed similar sentiments. He emphasized Ethereum’s steady momentum over the past two and a half years, marked by higher lows. He stated that once the price clears $4,000, it could rapidly ascend to $10,000. This analysis aligns with Ethereum’s historical market cycles, where it outperformed Bitcoin during similar phases.&nbsp;&nbsp;</p>  
<h2 class="wp-block-heading" id="h-whale-accumulation-and-on-chain-metrics-bolster-optimism"><strong>Whale Accumulation and On-Chain Metrics Bolster Optimism</strong></h2>  
<p>In addition, since early November, Ethereum whales have been increasing their holdings, accumulating 430,000 ETH worth approximately $1.4 billion in just two weeks. Additionally, Ethereum’s Market Value to Realized Value (MVRV) Momentum suggests the cryptocurrency has significant upside potential. These indicators align with the analysts’ bullish predictions, further reinforcing expectations of a substantial rally.&nbsp;&nbsp;</p> 
<p>The post <a href="https://cryptonewsland.com/renowned-analyst-forecasts-ethereum-surge-to-10k/" rel="noopener noreferrer nofollow">Renowned Analyst Forecasts Ethereum Surge to $10K</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Renowned Analyst Forecasts Ethereum Surge to $10K

Table of Contents

Crypto News Land

Other articles published on Nov 20, 2024

Savvy memecoin trader makes $988K in 3 hours despite rug pull

BlackRock’s Bitcoin ETF Options Will Spark More Institutional Interest in Crypto –– QCP Capital

Next Cryptocurrency to Explode, November 20 — Render, Kaia, XYO, Polkadot

Russia Implements Cryptocurrency Mining Restrictions for Winter Energy Conservation

Sky, formerly Maker, launches USDS stablecoin on Solana

John Bollinger analyzes Bitcoin’s record high, surpassing $94,000 on Kraken, following the launch...

Join our free newsletter for daily crypto updates!