Ethereum ATH: Exploring The Possibility Of Ether’s New Peaks In 2024
2023年12月1日 - 11:00PM
NEWSBTC
Ethereum (ETH), the world’s second-largest cryptocurrency, is
demonstrating robust momentum as its price stages a resurgence,
reclaiming levels above $2,000. This bullish trend gains traction
concurrently with significant developments in the US Securities and
Exchange Commission (SEC). The regulatory authority is engaging in
discussions regarding the potential approval of a spot Ethereum
Exchange-Traded Fund (ETF). This pivotal development has injected
optimism into the Ethereum market, as the prospect of an ETF
introduces new possibilities for mainstream adoption and
investment, further fueling the current upward trajectory of
Ether’s value. Related Reading: Shiba Inu Ripple: Massive $300
Billion Transfer Sends Crypto Community Into Speculation Ethereum’s
Ascending Triangle: Bullish Breakout Potential Over the course of
several months, the price of Ethereum has been in a consolidation
trend that has resulted in the formation of an ascending triangle.
Although the technical formation is bullish by nature, this is only
true following a profitable breakout. Trend lines connect the equal
highs and higher lows of the ascending triangle configuration. This
arrangement indicates that investors are growing more confident and
buying the dips at a faster pace. ETHUSD currently trading at
$2,066 on the daily chart: TradingView.com Interestingly, today’s
charts show there are no “dips” to buy, as Ethereum broke past the
vaunted $2,000 level to welcome December on a high note. Ethereum
is not only keeping up, but also rising to unprecedented heights.
The price of ETH is currently up 3% at $2,100, and investors and
enthusiasts are excited about the possibility of a rally to $3,000
or even higher. Ether’s impressive success against Bitcoin,
outperforming the alpha cryptocurrency by almost 5%, is a major
indicator of this. Important on-chain signals imply that ETH may
continue to outperform BTC this month. Fidelity Filing Fuels
Ethereum Optimism The first indication of a bullish move was a
breakout over the psychological $2,000 barrier, although there has
been a lot of see-saw motion around this level. More
specifically, ETH is trading between the weekly support level at
$1,930 and the high for the second quarter at $2,140. This is the
fourth week in a row that this has been happening. #Ethereum Spot
ETF filing by Fidelity! Confirms my thesis that after #Bitcoin gets
its shine, we’ll see Ethereum running to $3,500 in Q1 2024. —
Michaël van de Poppe (@CryptoMichNL) November 30, 2023 Crypto
analyst Michael van de Poppe has voiced his optimism for Ethereum
in light of the Fidelity filing. Given this submission, he affirms
his conviction that after Bitcoin’s rapid increase, Ethereum is
positioned to attain $3,500 throughout the initial quarter of 2024.
Related Reading: USTC Explodes 335% In Fresh Bullish Streak –
What’s Pushing The Price Up? Source: Santiment In a related
development, research shows there has been a significant increase
in Ethereum whale accumulation. On-chain data indicates that the
biggest Ethereum wallets, according to Santiment, are showing a
positive pattern that suggests a big change. ETH Price Volatility
Trends vs. Bitcoin. Source: IntoTheBlock Meanwhile, Ethereum has an
amazing 30-day Average Intra-Day Volatility score of 0.45%,
surpassing Bitcoin’s 0.32%, a recent research by IntoTheBlock
shows. Investment strategies may need to change as a result of this
change in volatility dynamics, which would highlight the Ethereum
market’s dynamic prospects. (This site’s content should not be
construed as investment advice. Investing involves risk. When you
invest, your capital is subject to risk). Featured image from
Freepik
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