Ethereum Analysts Predict Price Surge
If you have been following Ethereum closely, you may have noticed that several analysts are predicting a significant price surge for the cryptocurrency in the near future. Let’s take a closer look at what these experts are saying:
Martinez Bullish on Ethereum
– A bull pennant has formed on Ethereum’s lower time frames, indicating a potential rise of over 4% towards $2,820 for ETH.
– Ethereum’s price has shown impressive recovery since August 5, with a low of $2,200.
– Martinez believes that this bullish indicator confirms an upward trend for Ethereum in the coming days.
The Cryptomist’s Sentiment
– The Cryptomist shares a similar sentiment to Martinez, suggesting that Ethereum could rise to $2,840 soon.
– Ethereum is currently in a demand zone with a possible ascending triangle, making it look promising.
– The Cryptomist plans to open a long position if ETH breaks out, with a price target set around $2,840.
Crypto’s Analysis on Ethereum
– Crypto revealed that Ethereum’s price has bounced from support on the weekly chart.
– Ethereum needs to close back above $3,000 to reenter the range according to Crypto.
– Closing above $3,000 this week could lead to a significant move in Ethereum’s price next week.
Why Ethereum Accumulation is Increasing
Large holders of Ethereum have significantly increased their accumulation of the cryptocurrency in the past week. Here’s why:
– Data from IntoTheBlock shows a rise in Ethereum accumulation, especially among large holders.
– The netflow of large holders has spiked by over 191% in the last seven days, indicating increased buying of ETH dip.
– Addresses holding between 10 and 10,000 ETH have bought over 757,000 ETH since August 5, according to Cryptoquant.
Current Status of Ethereum
– Ethereum is currently trading at around $2,600, experiencing a slight decrease of over 2% in the last 24 hours.
– The fundamentals suggest that Ethereum could soon break the resistance level at $2,700 and target the $3,000 level.
– Increased network activity and whale accumulation indicate a bullish trend for Ethereum in the near future.
Hot Take: Ethereum’s Potential for Growth
Despite temporary setbacks, Ethereum’s future looks promising with potential for significant growth in the coming days. Keep an eye on the following key points:
– Analysts predict that Ethereum could surge to $2,820 and beyond in the near future.
– Accumulation of Ethereum by large holders is on the rise, indicating confidence in the cryptocurrency’s potential.
– Breaking the resistance level at $2,700 could pave the way for Ethereum to reclaim the crucial $3,000 level.
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