Ethereum

Rally

Momentum

<p>Ethereum price has been on an upward trend, hitting a five-month high and crossing the $3,600 mark. The cryptocurrency is on the rebound after an extended period of trading sideways, making $4,000 the next key level of resistance.</p> 
<p>Moreover, Ethereum’s upward price action is attributed to a breakout from a rounding bottom formation which signified a shift from a bearish trend. The breakout above $3,550 signaled the end of the reversal pattern that cleared the way toward further gains. </p> 
<p>Currently hovering close to $3,588, <a href="https://www.thecoinrepublic.com/price-prediction/ethereum/">ETH price</a> has pulled back but has continued to rally by 3% in the last 24 hours.</p> 
<h2 class="wp-block-heading" id="h-analyst-predicts-ethereum-price-to-reach-6-000-and-10-000"><strong>Analyst Predicts Ethereum Price to Reach $6,000 and $10,000</strong></h2> 
<p>Crypto analyst <a href="https://www.thecoinrepublic.com/2024/11/06/expert-predicts-ethereum-price-rally-to-10k-amid-sp-500-correlation/">Ali Martinez has outlined</a> a mid-term price target of $6,000 for Ethereum, based on a rising channel pattern observed on the weekly chart. </p> 
<p>The long-term projection suggests a potential surge to $10,000 if the cryptocurrency continues its current trajectory. The analysis indicates that Ethereum has reached the channel’s midline. This is&nbsp; a pivotal level for further upward movement.</p> 
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  <img loading="lazy" decoding="async" width="563" height="401" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-880.png" alt="" class="wp-image-858409" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-880.png 563w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-880-300x214.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-880-150x107.png 150w" sizes="auto, (max-width: 563px) 100vw, 563px">
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   Source: Ali Martinez | X
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<p>Martinez also pointed out the levels at $3,300 and $3,000 as the key levels to hold. A move past the initial barrier at $4,091 may indicate the start of the next upswing of the bull market. The golden crossover of the 100-day and 200-day EMAs also favors the bulls for Ethereum.</p> 
<h2 class="wp-block-heading" id="h-whale-activity-drives-market-optimism"><strong>Whale Activity Drives Market Optimism</strong></h2> 
<p>Also, the ETH holders with a balance of 1000 ETH or more have been on an accumulation spree over the last three months, which has boosted the market sentiment. Whale inflows have increased by 14.63% in the past week, 44.80% in the past month, and an impressive 126.85% in the past three months according to the data.</p> 
<p>This accumulation led to a decrease in the circulating supply, therefore a scarcity effect which is a precursor to a huge price increase.</p> 
<p>In the most recent whale activity, Whale Alert service noted that 8,389 ETH, or around $30.4 million was transferred from Binance to an unknown wallet on November 28, 2024.</p> 
<div class="wp-block-image"> 
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  <img loading="lazy" decoding="async" width="1024" height="346" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-883-1024x346.png" alt="" class="wp-image-858435" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-883-1024x346.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-883-300x101.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-883-768x260.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-883-150x51.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-883-696x235.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-883-1068x361.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-883.png 1100w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   Source: X
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<p>Whale activity is rising as ETH continues to trade above key resistance levels, indicating more and more investors are becoming convinced that the asset has a bright future. This trend aligns with the broader market recovery and rising interest from institutional investors.</p> 
<h2 class="wp-block-heading" id="h-technical-indicators-point-to-continued-upward-momentum"><strong>Technical Indicators Point to Continued Upward Momentum</strong></h2> 
<p>From the technical analysis, the Ethereum price trend has received a lot of support. The recent price breakout above the 78.6% Fibonacci retracement level has created the new floor at $3,550 for a further bullish trend. Additionally,</p> 
<p>The ascending price channel seen by analysts indicates that ETH may be on its way to retesting the upper boundary of the channel. This corresponds to the $6,000 price mark. Ethereum’s long-term price movement has consistently followed this channel, reinforcing the bullish outlook shared by analysts and traders.</p> 
<p>Meanwhile, a recent analysis suggests that <a href="https://www.thecoinrepublic.com/2024/11/25/ethereum-price-prediction-4000-next-amid-bull-flag-breakout/">Ethereum could reach</a> $4,000, driven by the upcoming golden cross. This bullish signal indicates the potential for a sustained price rally over the long term. The 50-day EMA crossing higher than the 100-day and 200-day EMAs shows a positive trend with strong support at $3,200 backing this perspective.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/30/ethereum-price-rally-builds-momentum-as-experts-eye-6k-and-10k-milestones/">Ethereum Price Rally Builds Momentum as Experts Eye $6K and $10K Milestones</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Ethereum Price Rally Builds Momentum as Experts Eye $6K and $10K Milestones

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