ReportWire

Tag: ETH news

  • How Ethereum Could Become The Default Network For AI Development, Vitalik Explains

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    My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

    My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

    I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

    When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

    Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

    My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

    Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

    One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

    I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

    I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

    I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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    Godspower Owie

    Source link

  • Ethereum Loses Structure After $3,220 Rejection — Is This Distribution Or Just The First Crack?

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    Ethereum has taken a sharp turn after facing a firm rejection at the $3,220 level, with price breaking structure and slipping into a weaker posture. The speed of the drop and lack of strong buying interest raise an important question for traders: Is this merely an early warning sign within a broader uptrend, or the start of a deeper distribution phase that could pressure ETH further in the near term?

    Rejection At $3,220 Signals Distribution, Not A Shakeout

    Crypto analyst PEPE is Friend highlighted that Ethereum’s sharp rejection at the $3,220 level was deliberate rather than random. The drop was clean, with key structure breaking down, selling pressure accelerating, and price quickly flushing toward the $3,106 area, aligning with a classic distribution behavior rather than a simple shakeout.

    Related Reading

    Assessing the current price reaction, there are still no signs of a true reversal. The bounce has been notably weak, trading volume remains thin, and buyers have yet to show a strong commitment. Instead of signaling renewed bullish momentum, the move higher appears to be a technical pullback within a broader weakening structure.

    Source: Chart from PEPE is Friend on X

    The key technical zone remains well-defined. ETH is trading below the former support band between $3,170 and $3,200. As long as the price stays below this range, any upside move is likely to be viewed as a selling opportunity rather than the start of a sustained recovery. 

    When this price action is viewed alongside Ethereum spot ETF data, the picture becomes clearer. While ETF flows remain positive daily, they lack strong momentum or a standout confirmation day. Capital appears to be absorbed rather than aggressively deployed, suggesting institutional demand is not yet strong enough to drive a decisive breakout. Until that changes, sellers are expected to remain in control below the $3,170–$3,200 resistance zone.

    Ethereum Slips Below $3,062 As Bears Regain Short-Term Control

    In an X post, Kamile Uray noted that Ethereum has closed below the $3,062 level, shifting attention toward the next major downside zone at $2,623. This level is now critical, as holding above it could allow ETH to stabilize and attempt another recovery move.

    Related Reading

    On the upside, a clean break above the pink-box resistance near $3,445 would activate bullish formations such as a cup-and-handle or an ascending triangle, opening the door for a move toward the $3,894 area.

    Further strength would be confirmed if ETH manages to close above the $3,661 high, which would mark the first higher high on the daily chart relative to the previous downtrend, improving the bullish outlook. Still, $3,894 remains a key level, as it aligns with the 0.618 Fibonacci retracement of the last decline.

    On the downside, a clear break below the $2,623 low would expose ETH to deeper losses, with the $2,274–$2,104 zone emerging as the next major support area. This region hosts a potential bullish “Libra” reversal setup, and Ethereum could once again attempt a bounce toward its previous all-time high if reversal confirmation appears there.

    Ethereum
    ETH trading at $2,960 on the 1D chart | Source: ETHUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

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    Godspower Owie

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  • Ethereum Enters Overbought Levels With Weekend Pump, Why A Crash Could Be Coming

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    Moving alongside Bitcoin, the Ethereum price has actually been able to reclaim $3,000, moving up faster than anticipated over the weekend. This resulted in an over 6% daily increase by Sunday, as sentiment began to move toward the positive again. However, this move has not completely erased the bearish expectations surrounding the cryptocurrency, especially as one crypto analyst points out that the digital asset has now actually entered overbought levels.

    Ethereum In Dangerous Territory

    In a TradingView post, crypto analyst SignalProvider highlighted that Ethereum has now entered overbought levels, something that is bearish for the price. As explained by the analyst, using the ETheruem -Hour timeframe, the trend is currently bearish as the 7-period RSI shows that the digital asset is now in oversold levels.

    Related Reading

    This comes as the Ethereum price continues to trade above $3,100, which the analyst calls a solid horizontal structure. However, this structure has not held as strongly as expected, leading to weakness in the market. As a result, the crypto analyst explains that this could result in a price decline.

    If the decline plays out as expected with the overbought levels, then the first target is $3,028, according to the analyst. This could then serve as a support level that could begin the next uptrend. However, there is a possibility that this does not play out soon, as prices entering overbought levels can take time to play out.

    Source: TradingView

    ETH Price Is Not Entirely Bearish

    While the entrance into overbought levels remains a bearish signal for the Ethereum price, another analyst has presented a possible bullish path for the cryptocurrency from here. This lies in the ability of bulls to break out completely from the $3,100 level.

    Related Reading

    As crypto analyst TheSignalyst explains, the lower bound of the channel has been working to serve as support for the Ethereum price above $3,000. If this channel continues to hold, then the bullish trend remains intact. “From a structure point of view, ETH remains bullish, trading cleanly inside a flat rising channel,” the post read.

    When the breakout is completed, then the price could rise as high as $3,600, which is the top of the current ascending channel. But TheSignalyst explains that until this breakout happens, Ethereum investors should expect more sideways chop as the price continues to build up.

    Ethereum price chart from Tradingview.com
    ETH price pushes above $3,100 | Source: ETHUSDT on Tradingview.com

    Featured image from Dall.E, chart from TradingView.com

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    Scott Matherson

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  • Ethereum Finds Its Footing Again, But Here’s Why Bulls Still Have Work To Do

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    My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

    My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

    I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

    When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

    Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

    My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

    Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

    One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

    I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

    I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

    I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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    Godspower Owie

    Source link

  • Ethereum Support Band Under Pressure — Can Bulls Revive Momentum From $3,700?

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    Ethereum is once again testing the strength of its key support band around the $3,700 zone, a level that has acted as a crucial lifeline for bulls in recent months. With momentum fading after repeated rejections near resistance, speculations are whether buyers can step in to spark a renewed push upward or if a deeper correction is on the horizon.

    ETH Pulls Back After Golden Pocket Rejection

    In his latest market update, Luca shared insights on Ethereum’s current technical setup, noting that the asset recently faced rejection at the high-timeframe resistance zone he had highlighted in earlier analyses. This rejection aligns with the golden pocket between the 0.5 and 0.618 Fibonacci points of interest (POIs). Following this rejection, Ethereum’s price has retreated into the broader accumulation range marked in green on his chart.

    Related Reading

    According to Luca, this accumulation zone has served as a strong reversal area in recent months, providing crucial support whenever price corrections intensified. It also coincides with the Weekly Bull Market Support Band, reinforcing its importance as a potential turning point in Ethereum’s next major move.

    ETH prepping for another upward attempt | Source: Chart from Luca on X

    Despite this, the analyst cautioned that the current market structure appears vulnerable to a breakdown. Luca emphasized that while he remains optimistic about Ethereum’s long-term potential, if the breakdown is confirmed, he plans to stay objective by hedging part of his spot holdings. Doing so, he believes, would help reduce exposure to downside volatility while keeping capital ready to re-enter the market once a more sustainable bullish reversal emerges.

    Luca concluded by reiterating his adaptive trading strategy, a balance between flexibility and discipline. By maintaining moderate cash positions and exposure to defensive assets, he ensures the ability to act quickly when clear opportunities arise while safeguarding capital during volatile market phases.

    Ethereum Holds The Mid-Range Support Zone Between $3,600–$3,700

    According to GrayWolf6, Ethereum is currently trading within a defined range between $3,900 and $3,100, with the price recently touching the mid-range support area around $3,600–$3,700. He noted that the Stochastic RSI is flashing a bullish signal, hinting at the potential for a short-term rebound from this zone as buyers begin to regain momentum.

    Related Reading

    GrayWolf6 further explained that since ETH reached $4,250 just a few days ago, another move toward the upper band remains a possibility. Should the price reclaim strength, the next upside target could extend to around $5,200.

    Despite this optimistic outlook, the analyst cautioned that Ethereum remains confined within the lower range, keeping the downside risk near $3,100 in play. He mentioned taking profits on his earlier short position and is now watching closely for signs of a bounce from this intermediate support level. For him, the strategy remains steady, risk-managed, positions hedged, and the next move is patiently waiting.

    Ethereum
    ETH trading at $3,836 on the 1D chart | Source: ETHUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

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    Godspower Owie

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  • Ethereum And Solana Flash ‘W Bottoms’: Bollinger Returns With Legendary Call

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    John Bollinger, the inventor of Bollinger Bands and a figure whose occasional crypto market calls carry outsized weight, says Ethereum and Solana are tracing potential “W” bottoms—while Bitcoin is not. In a post on X on October 18, Bollinger wrote: “Potential ‘W’ bottoms in Bollinger Band terms in ETHUSD and SOLUSD, but not in BTCUSD. Gonna be time to pay attention soon I think.”

    Ethereum And Solana Price: What To Watch Now

    The emphasis on “Bollinger Band terms” is doing heavy lifting here. In classic Bollinger taxonomy, a W bottom is a two-trough reversal with the second low holding above the first, often accompanied by a volatility signature that includes a prior band expansion, subsequent contraction, and a failure to register a lower low at the bands on the second leg.

    Related Reading

    The more robust versions see the second low forming inside the bands or with a positive divergence against the lower band, followed by a band “pinch” and a move through the middle band that transitions into an upper-band walk. Bollinger’s phrasing—“potential” and “time to pay attention”—signals that, in his framework, pattern recognition precedes confirmation, and that the validation trigger lies in subsequent price interaction with the middle and upper bands rather than in the raw shape of the price lows alone.

    The rarity of Bollinger’s crypto commentary layered urgency onto the signal. As crypto trader Satoshi Flipper (@SatoshiFlipper) stressed, “John Bollinger, creator of Bollinger Bands, makes barely 1 crypto call per year and hasn’t made one for ETH in 3 years until yesterday. And each call he makes goes on to mark generational bottoms. He just told us SOL + ETH have bottomed, now imagine fading this legend.”

    The same account detailed that Bollinger’s last notable Ethereum call dates to September 9, 2022, noting that ETH “went on to pump from $1,290 to $4,000.” That historical reference captures the prevailing market psychology: Bollinger’s infrequent, technically disciplined alerts are perceived by many traders as cycle-defining.

    Context from earlier this year also helps frame the setup. On April 10, Bollinger publicly flagged a similar structure in Bitcoin, saying: “Classic Bollinger Band W bottom setting up in BTCUSD. Still needs confirmation.” In the exact same week, BTC carved out a bottom at $74,508 and proceeded to log seven straight green weekly candles, advancing roughly 55%. From Bollinger’s call into the first week of October, BTC rallied more than 70%.

    Related Reading

    The market nuance in Bollinger’s latest readout is the explicit exclusion of Bitcoin. If ETHUSD and SOLUSD are printing W-like structures in Bollinger terms while BTCUSD is not, it implies a temporary decoupling in volatility structure and relative strength. In practical terms, a non-confirming Bitcoin can either lag into a later confirmation, remain range-bound in a mid-band churn, or fail its own setup if lower-band interactions persist without recapture of the middle band.

    For Ethereum and Solana, confirmation would typically look like sustained closes above the 20-period moving average (the Bollinger middle band), followed by a disciplined advance that converts the upper band from resistance into a guide. A healthy W bottom sequence tends not to produce immediate, vertical band overthrows; rather, it builds a stair-step profile with periodic mid-band checks that hold.

    Failure would involve another lower-band excursion that undercuts the second trough or a volatility bloom that widens the bands without directional follow-through—both signatures of an incomplete base.

    At press time, ETH traded at $4,037.

    ETH price, 1-day chart | Source: ETHUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • Ethereum Dual Chart Recovery: ETH And ETH/BTC Signal Strength Despite Bearish Close

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    My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

    My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

    I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

    When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

    Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

    My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

    Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

    One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

    I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

    I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

    I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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    Godspower Owie

    Source link

  • Ethereum Price Will Still Climb Above $5,000 As Long As It Holds This Level

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    The Ethereum price has spent the past weeks stuck in a wide consolidation zone, testing bullish momentum as analysts anticipate its next big breakout. One market expert has highlighted a critical level for ETH, suggesting that as long as the second-largest cryptocurrency can hold above this level, its path to surpassing the $5,000 milestone remains intact. 

    Ethereum Price Faces Critical Level At $4,400

    According to market expert Daan Crypto Trades on X social media, Ethereum’s recent price action has been choppy following two slow weeks of trading. The analyst’s chart shows that ETH has oscillated between $4,100 and $4,800, with several stop hints and liquidity grabs creating false moves on both the bullish and bearish side. 

    Related Reading

    Despite these fluctuations, the $4,400 zone, which sits around the 200-day Moving Average (MA) on the 4-hour chart, continues to act as the key support level that stands between ETH and the $5,000 milestone. Daan Crypto Trades noted that this critical support is not just technical but also aligns with strong accumulation levels. 

    Source: Chart from Daan Crypto Trades on X

    The analyst highlighted that Bitmine Immersion Technologies, Inc. (BMNR) has been steadily adding to positions, though at a slightly lower pace as Net Asset Value (NAV) flows ease. This shows that as long as Ethereum can maintain its price above the $4,400 support level, buyers may remain in control. The chart clearly illustrates this battle for support. ETH’s dips below $4,500 have so far been short-lived, with price consistently bouncing back into the consolidation range. 

    This repeated defense strengthens the case for Ethereum to sustain its momentum and build the foundation for a run above $5,000. For now, patient accumulation within the consolidation zone appears to be the market’s strategy as the cryptocurrency gears up for a potential breakout once broader conditions align. 

    $5,000 Is Only A Matter Of Time

    In a follow-up analysis, Daan Crypto Trades reinforced his bullish view, noting that Ethereum is essentially in a “$5,000 waiting room.” The analyst’s chart highlights this view, showing ETH rebounding strongly after retesting the $4,400 region. With both the 200 MA and 200 EMA on the 4-hour chart acting as underlying support, the cryptocurrency’s structure appears intact despite short-term volatility. 

    Related Reading

    Daan Crypto Trades suggested that while a retest of $4,000 – $4,100 is still possible, the market is unlikely to sustain a breakdown below that zone as long as ETH holds $4,400. In other words, maintaining this critical support could pave the way for new all-time highs. 

    The chart also reflected the market’s resilience, with ETH rejecting the lows and quickly climbing back toward $4,600. Such a rebound often signals that bulls may be preparing for the next leg higher. If the momentum continues, Ethereum retesting its former all-time high of $4,868 and breaking above $5,000 may only be a matter of time.

    Ethereum
    ETH trading at $4,516 on the 1D chart | Source: ETHUSDT on Tradingview.com

    Featured image from Getty Images, chart from Tradingview.com

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    Scott Matherson

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  • Ethereum Bulls Eye New Records Despite Market Volatility — What’s Driving Sentiment?

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    My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

    My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

    I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

    When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

    Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

    My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

    Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

    One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

    I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

    I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

    I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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    Godspower Owie

    Source link

  • This Is The Key Level That Stands Between The Ethereum Price And A Surge To $5,000

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    The Ethereum price has been in a crucial consolidation phase, with analysts closely watching the next big move. After reclaiming the $4,500 level, the cryptocurrency is now facing one last obstacle before potentially breaking into uncharted territory. Crypto market expert Ted Pillows has set Ethereum’s next price target at $5,000, signaling a potential new all-time high.

    Ethereum Price Faces Major Hurdle Before $5,000

    In a recent technical analysis published on X social media, Pillows explained that Ethereum has successfully reclaimed the $4,500 support level, a point that had previously been a stumbling block for bulls. Now, the market is laser-focused on its next price hurdle at $4,880, which has emerged as the final barrier before a potential breakout. 

    Related Reading

    According to his price chart, a daily candle close above the $4,880 resistance could open the doors to a fresh all-time high and quickly accelerate Ethereum’s momentum toward the $5,000 milestone. Just last month, ETH shocked the market by breaking its 2021 all-time high and climbing past $4,900. Now, the cryptocurrency looks ready for its next big move, with Pillows confirming $5,000 as the short-term target. 

    Source: Chart from Ted Pillows on X

    Ethereum’s struggle around the $4,880 level comes from repeated failures to push higher at this point in previous sessions. Each rejection has reinforced $4,880 as a strong resistance, making it the decisive point for bulls to conquer. A clean break above it could invalidate bearish short-term pressure and potentially trigger an influx of buying volume.

    However, if Ethereum once again fails to hold above this level, the price could retreat to lower supports. Pillows identified the $4,200 – $4,400 range as the primary demand zone where buyers could step back in. This area has historically provided strong support and could act as a springboard for another attempt to retest the resistance. 

    ETH Rejected At $4,650 But Holds Support

    In a follow-up analysis, Pillows noted that Ethereum failed to reclaim the $4,650 level, making its path to reach the $4,880 resistance even more difficult. The rejection at $4,650 has raised concerns of a near-term pullback, with the $4,500 region now being the key support to watch. 

    Related Reading

    If ETH holds above $4,500 and gains fresh bullish momentum, Pillows suggests that another attempt at reclaiming $4,650 could occur, potentially setting the stage for the long-awaited $4,880 breakout. On the downside, Ethereum maintains strong structural support between $3,800 and $4,000. This range has acted as a crucial demand zone during past corrections, absorbing selling pressure and enabling bulls to re-accumulate. 

    For longer-term investors, Pillows noted that this support zone presents a significant buy-dip opportunity. He said that if ETH declines to this level, many altcoins would also enter attractive discount zones, presenting broader accumulation opportunities across the market.

    Ethereum
    ETH trading at $4,511 on the 1D chart | Source: ETHUSDT on Tradingview.com

    Featured image from Adobe Stock, chart from Tradingview.com

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    Scott Matherson

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  • Ethereum Daily Chart Turns Green As ETHBTC Prepares For Lift-Off

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    In a recent post on X, crypto analyst CRYPTOWZRD shared a bullish daily technical outlook for Ethereum (ETH), highlighting a strong close that suggests further upward movement is likely. The analyst’s primary expectation is for more gains to follow as the ETH/BTC pair begins to surge. This key relationship is a central focus for the analyst, as a strong performance from Ethereum against BTC often signals a broader bullish period for ETH itself.

    ETH And ETHBTC Daily Candles Flash Strong Bullish Close

    Giving a detailed market update, CRYPTOWZRD highlighted that both Ethereum’s daily candle and the ETHBTC pair closed strongly bullish. ETHBTC’s surge occurred as Bitcoin’s dominance weakened, providing altcoins with room to build momentum. This shift marked a significant move for Ethereum, reflecting renewed strength in the broader market structure.

    According to his analysis, ETHBTC successfully broke out of its daily falling wedge pattern, a move that often signals the start of a bullish reversal. Ethereum mirrored this strength, pushing higher alongside the breakout, which further reinforced optimism among traders who have been watching closely for signs of sustained upside momentum.

    Examining key levels, CRYPTOWZRD highlighted that $5,000 remains the primary daily resistance for Ethereum. A decisive break above this threshold could ignite an impulsive rally, potentially driving ETH toward the $5,780 resistance zone or even higher. On the downside, $4,000 is seen as the critical daily support, providing a safety net for bulls should price action cool off in the short term.

    Despite the strong outlook, he noted that his primary focus will stay on the lower time frame chart formations for tomorrow, as these provide opportunities for quick scalps and short-term trades. However, with the weekend approaching, CRYPTOWZRD is maintaining a rational stance.

    Volatility Offers Both Risk And Opportunity In The Current Setup

    Crypto analyst CRYPTOWZRD has stated that the intraday chart for Ethereum is showing significant volatility, with more expected in the near term. This high level of fluctuation is something he is prepared for and is a normal part of the market as it searches for a new direction.

    In the meantime, CRYPTOWZRD has outlined two potential scenarios. If BTC’s price pulls back toward the $4,500 level, it will then show a clear bullish reversal. Another scenario would be if Ethereum holds strong and breaks above the $4,765 resistance, it would signal a new upward leg.

    Ultimately, the analyst advises exercising patience and waiting for the market to present a clear, healthy trade setup. This cautious approach acknowledges the current volatility, and the market’s next move will dictate the next best opportunity.

    Ethereum

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    Godspower Owie

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  • Ethereum Validator Slashing Puts Cardano’s Resilience In Focus – Here’s Why

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    A recent slashing of Ethereum from different validators has reignited the debate around staking models, with many pointing to Cardano’s more resilient structure as a key differentiator. While Ethereum’s system penalizes validators for downtime or misbehavior, Cardano’s staking approach avoids such risks, offering delegators security without the fear of losing funds. 

    Why Simplicity And Resilience Are Cardano’s Key Advantages

    On September 10, a slashing of 11.7 ETH from 39 Ethereum validators highlights the advantages of Cardano’s staking structure. Crypto analyst Dori has highlighted on X the fundamental differences in staking requirements and risks between the two networks. On Ethereum, it is structurally impossible to stake 0.1 ETH directly on ETH, but an individual must stake a minimum of 32 ETH and operate a validator node themselves. 

    However, platforms have been built on Ethereum to allow staking with as little as 0.1 ETH, and liquid tokens are issued. The critical difference is that, due to the slashing mechanism, Ethereum’s structure carries the risk of a cascading collapse. This has given rise to platforms like Ankr and Lido Finance, which pool ETH from many users, run validators, and issue liquid staking tokens such as ankrETH and stETH to solve the problem of locked-up funds.

    In this incident, an operational mistake by the operators of 39 validators led to a slashing penalty of 11.7 ETH, which is worth approximately $52,000. If a larger slashing event were to occur, it could lead to the de-pegging of the liquid staking tokens, potentially triggering a cascading collapse as DeFi ecosystem protocols built upon them.

    On Ethereum, iquid staking platforms were developed to remove obstacles to staking, and liquid tokens were distributed to address the issue of lock-ups. In contrast, Cardana’s staking model allows anyone to stake as little as 10 ADA in a stake pool without worrying about slashing. There are no lock-up periods, and a user’s staked funds are never at risk of being lost, even if their chosen stake pool misbehaves.

    Fundamentally Different Approaches To Staking

    Cardanians (CRDN) also stated that a critical flaw in Ethereum’s staking model has been exposed, highlighting the fundamental advantages of Cardano’s design. The data shows that the Ethereum staking exit queue has hit an all-time high, forcing users who unstake their ETH to wait an estimated 46 days to get their funds back.

    However, Cardano’s ADA staking model offers a fundamentally different experience, with liquid staking and no entry or exit queues. When a user stakes their ADA, the funds remain in their wallet and are always available for use or transfer, and earn rewards without being locked up. “The design is fundamentally better,” the expert noted.

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    Godspower Owie

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  • Ethereum Price At Risk Of Crash To $4,000, Is A New ATH Still Possible?

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    Amid the back and forth that has rocked the crypto market, the Ethereum price has now found itself between a rock and a hard place. Right now, bulls and bears are still locked in a tug-of-war in a quest to take control of the digital asset. Here, there are now multiple levels to watch that could determine the next steps for the Ethereum price.

    After falling back below $4,300 over the weekend, the Ethereum price is now trading very close to a critical demand zone. Crypto analyst ProfitMagnet highlights this in a TradingView analysis, showing the possibilities for the Ethereum price as it looks to test this zone.

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    So far, the Ethereum price has been consolidating between $4,200 and $4,300 after having faced resistance from $4,600-$4,800 in the last month. This has now led to what is the defining factor for the next phase of the move, and whether an uptrend or a downtrend will dominate.

    Assessing the current momentum, the crypto analyst notes that the recent uptrend was being supported by the bullish trendline starting from the August lows. However, there is still the matter of the bearish trendline that continues to limit the upward momentum, thereby putting a damper on the rally.

    Source: TradingView

    At this point, it is now simply a matter of what level the Ethereum price retests, and what it successfully breaks through. From here, holding the demand above $4,300 is important if the bulls want to continue the rally. If they are successful, then the analyst does see the Ethereum price making its way back to $4,600-$4,800.

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    However, on the flip side of this is the bears taking over and forcing a retest of the demand level. This would happen if bulls were unable to sustain the current demand, leading to a breakdown in the price. From here, the next major level would be the support at $4,000, pushing the Ethereum price toward the next major psychological level.

    What this trend shows is that while the market is leaning bullish, the bulls still have a relatively weak hold, meaning it could go sideways at any point. “The structure suggests a potential bullish reversal, but confirmation is required with a break of the bearish trendline and demand reaction,” the crypto analyst said.

    Ethereum price chart from TradingView.com
    ETH leads altcoin market recovery | Source: ETHUSDT on TradingView.com

    Featured image from Dall.E, chart from TradingView.com

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    Scott Matherson

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  • Ethereum price Crash To $4,081: Why The Bears Are In Charge

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    Ethereum price has seen a lot of decline after hitting an all-time high above $4,900. This move saw the bears push the price back, resisting the campaign to hit $5,000. So far, the bears have remained in control, and it seems that this will be the case for a while, with technicals pointing toward a possible 10% crash that would send the price toward $4,000 again.

    Why Ethereum Price Is At Risk

    In an update to a previous analysis, Klejdi Cuni has forecasted a further decline for the Ethereum price, with bearish indicators being more prominent. The previous prediction, shared over the weekend, pointed out that the Ethereum price had been breaking down from a bearish triangle pattern. This had suggested a further move toward the $4,300 territory.

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    True to the forecast, the Ethereum price did indeed fall back, breaking below $4,300 briefly before bouncing again. This comes after the price broke down below the support at $4,490, putting the bears in charge of the Ethereum price once again. With the first part of the forecast fulfilled, then ETH could play out the full prediction from here.

    The crypto analyst had previously revealed that he expected the Ethereum price to suffer further drops; first to $4,335, then to $4,215, before finally landing at $4,081. This prediction was reiterated in the updated analysis, showing where the price could be headed next.

    Source: TradingView

    Next on the list for the cryptocurrency is to test the resistance zone around $4,500. This has previously been a level at which the price was beaten back down, suggesting that a similar trend could play out. If the price does get rejected here, then it could signal a continuation of the bearish trend.

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    The analysis also ties in the performance of the Bitcoin price, which has continued to drive the entire market. So far, the Ethereum price has performed better during the recent market crash. However, if the Bitcoin price were to continue its decline, then the Ethereum price is likely to follow in the same direction. Add in the fact that the situation around the US dollar remains unclear, and the analyst sees a lot of risk during this time.

    There is also the possibility of the Ethereum price turning toward the positive once again. This has to do with the resistance at $4,650, serving as a make-or-break level. If the price is rejected from here, then it could mean more declines. However, if ETH bulls are able to reclaim it with strength, then it could serve as a bounce-off point for the next rally.

    Ethereum price chart from TradingView.com
    ETH price holds support above $4,300 | Source: ETHUSDT on TradingView.com

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  • Ethereum To $5,500 In Weeks, $12,000 By Year-End, Tom Lee Predicts

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    Fundstrat co-founder Tom Lee laid out a forceful, policy-driven Ethereum bull thesis in an interview on August 26, arguing that a US regulatory pivot, Wall Street’s move to on-chain infrastructure, and institutional demand routed through public “crypto treasuries” set the stage for a sharp fourth-quarter repricing. “In the near term, you know, $5,500 should be happening in the next couple of weeks,” Lee said, adding that by year end ETH “should be closer to $10,000 to $12,000,” with the bulk of crypto’s yearly gains typically arriving in Q4.

    Ethereum’s ‘1971 Moment’

    The brain behind BitMine’s ETH treasury strategy frames 2025 as a structural break comparable to the US dollar’s 1971 break from gold. In his view, Washington’s posture has shifted from seeing crypto as a threat to positioning it as an instrument of financial leadership. “In the last 12 months, there’s been a sea change, partly because of the election, where crypto is no longer considered an enemy… but really part of how the US financial system will get leadership,” Lee said.

    He pointed to stablecoins—“the breakout product, you know, the chat-GPT moment”—the proposed GENIUS Act and what he called the SEC’s “Project Crypto,” contending these signals show regulators want “Wall Street to use the blockchain to actually make America more innovative and actually spread America’s financial influence around the world.”

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    From there, Lee’s thesis centers on Ethereum as the default institutional settlement layer. “Wall Street doesn’t want the fastest chain… They want a reliable chain that they can build upon. Ethereum has had zero downtime in its entire history. So to me, it’s the natural selection.”

    Calling Ethereum a “fat protocol,” he argued that value accrues at the base layer as tokenization and payment rails migrate on-chain. Citing work “from Mosaics and from Fundstrat,” Lee said that, if the network captures major payment and banking flows, “you get to a network value of $60,000 value per ETH” over a 10- to 15-year horizon.

    BitMine’s Strategy

    A substantial part of the conversation focused on the public-equity vehicle he chairs, Bitmine, which he described as an actively managed Ethereum treasury. Lee contrasted holding spot ETH with owning a company that uses capital markets to expand ETH per share. “When Bitmine started… there was only $4 worth of Ethereum held per share,” he said of a July 8 baseline.

    “As of August 24, we now have $39.84 worth of Ethereum held per share… So the reason we had a 10x in your holdings is because Bitmine is actively managing to grow your Ethereum held per share by using capital markets and attracting the interest of institutional investors.”

    He argued that this approach can be “anti-dilutive” when executed at an equity premium to net asset value: “If your ETH per share is going up, none of the capital markets is dilution.” Lee added that Bitmine has “a billion-dollar stock repurchase program in place because if the stock becomes too cheap relative to its ETH holdings, it would make more sense to actually buy back stock.”

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    On strategy, Lee outlined an ambition to control roughly 5% of staked ETH, claiming a “power law” effect as network importance scales. “If you’re a staking entity that owns 5 percent, then you have a positive influence on future upgrades… [and] one of the most important vectors for when Wall Street wants to build on Ethereum,” he said. With Ethereum’s proof-of-stake mechanics, he asserted that current holdings could generate substantial income: “With the $9 billion worth of ETH held today, that’s about almost $300 million of net income.”

    Tom Lee’s Macro View

    Institutional demand, Lee maintained, is finally rotating toward ETH via regulated wrappers and equities, even as many large allocators still underweight it. “Ethereum is still generally not liked by institutions because most have bet on Bitcoin… that’s why Ethereum is probably falling into… the most hated rally,” he said, noting that year-to-date ETH gains of 35 percent have outpaced Bitcoin’s 17 percent.”

    Lee’s macro overlay extends beyond crypto. He reiterated a constructive equity view contingent on Federal Reserve easing and a cyclical upturn. “If the Fed follows through and begins to cut… and then we get a drop in mortgage rates and the ISM turning up and therefore financials really begin to participate, I think that’s why we get to 6,800 or so on the S&P,” he said. While acknowledging that “September is the month everyone’s going to be worried about,” he characterized any pullback as buyable: “Since 2022… that has always been a dip buying opportunity.”

    At press time, ETH traded at $4,614.

    Ethereum price
    ETH stalls below key resistance, 1-week chart | Source: ETHUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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  • Ethereum As The Default Crypto Backbone: The Real Reason Behind Tom Lee’s Pick

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    Ethereum has become the default settlement layer engine of decentralized finance, and Tom Lee, the co-founder of Fundstrat Global Advisors, has recently expressed a bullish stance on ETH that was far from a random call. This dominant position explains why Lee’s confidence in ETH is rooted in speculation and the backbone of digital finance.

    How Ethereum Powers The Largest Share Of Decentralized Finance

    In an X post, analyst AdrianoFeria has highlighted that Tom Lee, the co-founder of Fundstrat Global Advisors, has chosen ETH because it is the default choice for stablecoins, tokenization, and DeFi, and the very rails on which the future of finance is being built. Ethereum is the internet of finance, and Wall Street is finally waking up to the reality.

    Tom Lee and more high-profile figures of institutional finance are entering the ETH race and quietly building positions. The analyst noted that Ethereum treasuries are not just decentralized asset trackers (DATs). Rather, they are the perfect vehicle for influential billionaires who are late to ETH to gain leveraged exposure, while gifting early investors an entire army of mainstream ETH bulls who will defend their allocation in the media and beyond.

    He has also stated that the representation of these treasuries and the capital flowing in is not just retail noise anymore, but is big money with a megaphone. The people backing Ethereum are changing the story at the highest levels of finance, and ETH is getting closer to cementing its role as the backbone of global markets.

    However, this isn’t Bitcoin’s game anymore. It’s Ethereum’s internet of finance, and the smart money knows it. For those still clinging to the tired argument that ETH isn’t a store of value, the market has been slapping that narrative down for a decade. Despite endless FUD from no-coiners and even insiders, ETH has been the best-performing asset in the world over the last ten years. 

    Why ETH’s Volume Momentum Could Matter For Bulls

    Following its recent upward trend to a new all-time high, AdrianoFeria also revealed that the ETH momentum over the past three months has been more than just price appreciation. It has been a showcase of growing market dominance. Unlike most altcoins, ETH has consistently brought higher trading volume on exchanges compared to any other crypto asset, including Bitcoin.

    ETH’s volume has been trending upward steadily, while signaling sustained investor interest and market activity. The widening gap between ETH and BTC trading volumes underscores a shift in market attention, and as ETH/BTC continues to climb, more traders and institutions are prioritizing Ethereum.

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  • Crypto Capo Returns After 2 Months To Predict Ethereum Decline To $1,800, Is It Time To Go Long?

    Crypto Capo Returns After 2 Months To Predict Ethereum Decline To $1,800, Is It Time To Go Long?

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    Popular crypto analyst Il Capo of Crypto has returned to social media platform X after over two months of hiatus to drop an interesting outlook for Bitcoin and Ethereum in the coming months in light of the recent correction since the beginning of October. The analyst, which has been so big on a looming altseason since the beginning of the year, has revealed a bearish outlook for Bitcoin and even Ethereum (king of altcoins) in the short term.

    Known for his sometimes controversial and often contrarian predictions, Capo returned just as the market experienced a notable correction in October, sharing his bearish outlook for both Bitcoin and Ethereum. His latest prediction is that Ethereum could plummet as low as $1,800 before seeing any substantial recovery.

    ETH’s Predicted Decline

    Ethereum has already dropped by 10% in the past seven days and is currently trading around around $2,330, but according to Capo, this decline could worsen. He predicted that ETH might fall further into the $1,800 to $2,000 range, which is a possible 23% dip from its current price, before eventually rebounding. However, he believes an altcoin season will still materialize. 

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    Capo’s track record of analysis since the beginning of the year shows a consistent belief in the upcoming dominance of altcoins. Throughout 2024, he has repeatedly emphasized the potential for altcoins, particularly Ethereum, to outperform Bitcoin as profits generated from BTC flow into smaller assets. However, the altcoin season has yet to materialize, and Bitcoin has continued to dominate the crypto investment scene.

    Time To Go Long On Ethereum?

    It’s worth noting that Crypto Capo’s predictions often have a certain lore attached to them. There is a running joke among some investors that whenever Capo makes a prediction, the market tends to do the opposite. This goes as far back as his prediction of Bitcoin falling to $12,000 last year, but the crypto eventually broke past resistance levels. Now, with Capo predicting the possibility of continued decline for Ethereum and Bitcoin amid October’s bullish market sentiment (often dubbed “Uptober”), it raises the question from many investors if his bearish call is far-fetched.

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    Only time will tell if the market plays out according to Capo’s analysis. However, given the current inflow of investments and the crypto market, which has mostly rallied in October, it wouldn’t be surprising if Ethereum rebounds rather than experiences the significant drop Capo is forecasting.

    Naturally, many savvy whales and traders have seen the current decline as an opportunity to “go long” and accumulate more Ethereum in expectation of the resumption of inflows. This sentiment is reflected through the US Spot Ethereum ETFs, which witnessed $14.45 million in inflows yesterday despite the price correction.

    Interestingly, it is important to note that Capo’s analysis is only talking about a possible case and remains bullish for Ethereum in the long term. 

    ETH price drops sharply | Source: ETHUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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  • Ethereum Whales Spend $185 Million To Accumulate 70,000 ETH, Time To Buy?

    Ethereum Whales Spend $185 Million To Accumulate 70,000 ETH, Time To Buy?

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    Ethereum has largely mirrored Bitcoin in terms of price action and has yet to break out on its own accord in the past few months. According to price data, Ethereum is up by 13% in the past seven days, outpacing Bitcoin’s increase of 5.8% in the same time frame. Behind this interesting increase in Ethereum are some large Ethereum holders who seem to be increasing their holdings. 

    Notably, on-chain data from multiple analytics platform points to an uptick in activity from Ethereum whales in the past few days. Particularly, Glassnode data suggests large holders of Ethereum have added at least 70,000 ETH into their wallets since the beginning of last week.

    Ethereum Whales Spend Big On ETH

    The interesting Ethereum whale activity noted above is revealed through on-chain analytics platform Glassnode. As shown in the chart below, the number of Ethereum wallets holding 10,000 ETH or more has experienced a rise in the last 24 hours, increasing to 925 wallets. This marks a gain of about seven new whale wallets that have accumulated a huge number of ETH tokens, up from the 918 wallets recorded on September 18. 

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    Source: Glassnode

    Supporting this trend, additional data from IntoTheBlock (ITB) indicates a surge in activity from addresses holding substantial amounts of Ethereum. ITB tracks these movements through a specific metric that monitors the number and value of transactions exceeding $100,000. According to this metric, Ethereum whale activity has reached over $29 billion in the past seven days. While this figure accounts for both inflows and outflows from whale wallets, the sheer scale of these transactions is notable. Historically, such high levels of activity from large holders tend to be a bullish indicator for cryptocurrencies.

    This heightened activity is further reflected in the inflows of ETH into large holder wallets. On September 23, these inflows soared to 515,520 ETH, representing an impressive 440% spike compared to the 95,820 ETH recorded during the previous 24-hour period. 

    Time To Buy ETH?

    At the time of writing, Ethereum is trading at $2,626. As noted earlier, this is on the back of a 13% increase in the past seven days, prompting Ethereum’s overperformance over Bitcoin for the first time since the beginning of the year. The leading altcoin has mirrored Bitcoin’s movements so consistently that some analysts have questioned its potential for decoupling anytime soon.

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    Ethereum’s importance in the crypto industry means there’s never a bad time to accumulate more ETH. Ethereum just broke over $2,600 for the first time in September, which is the first step in a sustained move to the upside. The next key target is to break above $2,700 before the end of the month, which could pave the way for a push towards $3,000 in October.

    Ethereum price chart from Tradingview.com
    ETH price at $2,600 | Source: ETHUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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  • Cardano Goes Toe-To-Toe With Ethereum As Whales Scoop Up 120 Million ADA

    Cardano Goes Toe-To-Toe With Ethereum As Whales Scoop Up 120 Million ADA

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    Cardano (ADA) is currently competing with Ethereum in terms of large transaction volume. This is undoubtedly a positive development for the ADA ecosystem, especially since it indicates a wave of accumulation among the token’s large holders. 

    Cardano Matches Ethereum In Large Transaction Volume

    Data from the market intelligence platform IntoTheBlock shows that Cardano is witnessing a similar large transaction volume as Ethereum. In the last 24 hours, Cardano recorded a large transaction volume of $6.7 billion, while Ethereum witnessed a large transaction volume of $6.71 billion. 

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    This development suggests that Cardano whales have been active these past few days as they look to add more tokens to their positions, especially with the market currently on a dip and as these investors anticipate the much-awaited price rally from ADA. Further data from IntoTheBlock confirms this, as there has been an over 15% increase in large holders’ net flow over the last seven days. 

    Source: IntoTheBlock

    Data from the on-chain analytics platform Santiment also shows that Cardano whales have added to their positions. These investors, wallets holding between 100,000 and 10 million ADA tokens, collectively bought 120 million ADA tokens between July 17 and August 1. These wallets now hold over 5.69 billion ADA tokens. 

    An increase in whale activity presents a bullish outlook for the Cardano ecosystem. These investors could influence market prices, and these purchases could spark a significant surge in ADA’s price. This will provide a much-needed boost for Cardano, seeing how the crypto token has underperformed since the start of the year. 

    Cardano has a year-to-date (YTD) loss of over 35% and is one of the most shorted altcoins, thanks to this unimpressive price action. However, Santiment has suggested that a massive turnaround for the crypto token cannot be ruled out since Cardano being heavily shorted increases the “chances of liquidations leading to pumps.” The on-chain analytics platform claimed these liquidations could act as “rocket fuel” for a price rally for Cardano.

    Cardano 2
    Source: Santiment

    What Will Eventually Spark That ADA Rally?

    Cardano has failed to enjoy any significant rally despite several bullish developments in its ecosystem this year. The most recent bullish fundamental was the news that the US Securities and Exchange Commission (SEC) no longer considers ADA a security following the amendment of its complaint against Binance. 

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    Meanwhile, the Chang Hard Fork is underway as Cardano transitions to the Voltaire era and ushers in its most advanced governance system. It is worth mentioning that ADA’s price maintained a tepid price movement following the release of node validator software, version 9.1.0, which incorporates the Chang Hard Fork.

    As such, Cardano’s price action begs the question of what needs to happen for the crypto token to finally witness that much-anticipated price rally and catch up with the rest of the major cap tokens in terms of YTD gains. 

    At the time of writing, Cardano is trading at around $0.38, down in the last 24 hours, according to data from CoinMarketCap. 

    Cardano ADA price chart from A
    ADA price continues to struggle | Source: ADAUSDT on Tradingview.com

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    Scott Matherson

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  • Analyst says Ethereum Will Reach $8,000 ATH, But This Needs To Happen First

    Analyst says Ethereum Will Reach $8,000 ATH, But This Needs To Happen First

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    A crypto analyst has predicted that Ethereum (ETH), the world’s second-largest cryptocurrency will surge to new all-time highs around the $8,000 price mark. However, for Ethereum to reach this ambitious price target, the analyst emphasized that the cryptocurrency must fulfill certain key conditions. 

    Ethereum Road Map To $8,000 ATH

    A crypto analyst identified as ‘Bluntz’ on X (formerly Twitter) has expressed bullish optimism for Ethereum’s future outlook. The analyst forecasted that ETH could witness a mega rally to an $8,000 all-time high this market cycle.

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    Bluntz shared a video on June 8 via his official X account, highlighting key conditions Ethereum will have to overcome before it can reach a new all-time high around $8,000. The crypto analyst noted that ETH/USD is presently near recent lows, as a result, Ethereum could be getting closer to its lowest point in this current bearish trend. 

    The analyst disclosed that it was highly unlikely that Ethereum would immediately start surging upwards from its current low point. He emphasized that the cryptocurrency will need to undergo additional downward movement before witnessing a surge to the $8,000 price target. 

    For Ethereum to begin its road map to the $8,000 all-time high, Bluntz believes that the cryptocurrency must “sweep $2,800, take out the low and reclaim it.” After this, the analyst revealed that a three-wave corrective pattern, termed an “ABC,” will be completed, potentially signaling the end of Ethereum’s downward trend and the beginning of a substantial upward movement. 

    Bluntz also noted in his video that Ethereum’s ABC wave correction will send the price of the cryptocurrency to $6,000 before pulling back and rallying again to a cyclic top of around $8,000. He expects Ethereum to trade sideways for a while, testing new lows before entering a recovery stage. 

    Analyst Asserts Ethereum’s Biggest Gains Are Yet To Come

    In his post, Bluntz confidently asserted that Ethereum has yet to experience its “big run” in this market cycle. Although the cryptocurrency surged to new highs above $4,000 earlier this year, Bluntz and a few other crypto analysts have predicted more bullish upsides for the cryptocurrency.

    One of the primary reasons behind the market’s optimism concerning Ethereum’s price outlook is the upcoming launch of Spot Ethereum Exchange Traded Funds (ETFs). Bluntz disclosed in his video that the introduction of Ethereum Spot ETFs will likely trigger a substantial price increase for Ethereum. 

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    The analyst revealed that various crypto community members have engaged in a hot debate about the potential launch of the Ethereum ETF, expecting it to have a positive impact on Ethereum’s value. However, contrary to belief, Bluntz anticipates a major ETH sell-off, emphasizing that the price of the cryptocurrency will likely drop following the launch of its ETF. 

    This initial sell-off phase could indicate the shakeout of weaker hands in the crypto market. Following this, Bluntz expects Ethereum to be “bid up heavily,” potentially driving the price upwards. 

    ETH price drops from local peak | Source: ETHUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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