Ethereum

bullish

Read

With ETH/BTC up 17.8% this week and spot Ethereum ETF inflows exceeding $90 million, analysts suggest Ethereum’s path to its all-time high appears increasingly achievable.
Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) outperformed the broader crypto market, rising 11.65% to a high of $3,688, as capital rotated from Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>).
The surge comes as Bitcoin reclaimed the critical $95,000 level on Nov. 27, following in-line PCE price index results. However, Ethereum’s relative strength continues to build. The ETH/BTC ratio currently stands at 0.03760, up 17.8% from the prior week, analysts at QCP Capital noted.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “With BTC dominance breaking down from its high at 61.50%, ETHBTC has held up nicely and is currently at 0.03760, up 17.8% from last week. This brings 0.0400 into focus as the next level to watch.”
 QCP Capital
</blockquote>
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-nears-100k-history-repeating-or-a-new-chapter-in-crypto/"> Bitcoin nears $100k: history repeating or a new chapter in crypto? </a>
<h2 class="wp-block-heading" id="ethereum-targets-all-time-high">Ethereum targets all-time high</h2>
Despite Ethereum lagging behind Bitcoin and Solana (<a href="https://crypto.news/tag/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>) in the ongoing rally, QCP Capital suggests the recent ETH gains could lead to a retest of its all-time high of $4,868, offering a potential upside of 35.4% from current levels.
As crypto.news <a rel="noopener noreferrer nofollow" href="https://crypto.news/ethereum-price-is-on-track-to-hit-10k-crypto-analyst-predicts/">reported</a> earlier, Ethereum’s daily charts indicate bullish patterns, including the potential for a golden cross as the 200-day and 50-day Exponential Moving Averages approach a bullish crossover.
Ethereum’s decentralized finance ecosystem has also seen growth. The total value locked in Ethereum-based protocols rose by about $10 billion, following bullish momentum spurred by Donald Trump’s U.S. presidential election win, according to <a href="https://defillama.com/chain/ethereum" target="_blank" rel="noopener noreferrer nofollow">data</a> from DeFiLlama.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/here-are-5-reasons-why-ethereum-looks-strong-despite-market-volatility/"> Here are 5 reasons why Ethereum looks strong despite market volatility </a>

QCP Capital: Ethereum eyes 35% rally as spot ETF inflows hit $90m

Table of Contents

crypto.news

Other articles published on Nov 28, 2024

Michael Saylor’s MicroStrategy Expands its Bitcoin Reserves to 331,000 With Latest Acquisition

Bitwise Submits Proposal for Multi Cryptocurrency ETF to SEC

CryptoAutos Announces Launch Date for $AUTOS Token Sale: Merging Blockchain with Luxury Cars

What is MemeFi, the viral tap-to-earn game on Telegram?

Another Country Makes a Move for Bitcoin! The First Step Has Been Taken for a Strategic BTC Reserve!

Qubetics (900% ROI), Avalanche ($50 Target), or Hedera (Enterprise Adoption)? Best Cryptos to Buy...

Join our free newsletter for daily crypto updates!