Ethereum’s price is underperforming most altcoins during this bull market, but some analysts think that it could make a strong comeback to reach $10,000. The ETH token traded at $3.725, which was its highest price since June 7 and was 75 percent above its low in August.
Ethereum Price: Crypto Analysts are Bullish
Ethereum is divided in the crypto-community, as it continues losing market share to Solana and Sui and to layer-2 networks such as Base and Arbitrum. Ethereum critics note its low inflows into the industry of exchange-traded fund (ETF).
In recent weeks, inflows of funds have increased. Total inflows have risen to $573 millions, and the majority of this money came on November 29th when they grew by $332million.
Wolf, a crypto analyst who has over 100k subscribers, said in an X-post that Ethereum would reach between $9k and $10k by next May. Wolf referred to the technicals which include patterns such as falling wedges or regressions.
If his ETH prediction is correct, the coin’s value will increase by 177% compared to its current price. As evidenced by recent gains in the crypto market, Stellar Lumens(XLM)and Ripple(XRP), which have jumped over 200% within the last few weeks.
Another crypto analyst, Freedom by 40 predicted that the coin will make a rapid parabolic movement. The fact that the coin was in a bullish Elliot pattern is what he cited. He believes that it was in its fourth wave and the fifth bullish wave had just begun.
$ETH Testing at a big level for now, but once it breaks then Ethereum will become cool and move fast imo.
Analysis of ETH prices: Golden cross indicates more gains
On the daily chart, the ETH rate bottomed out at $2.125 in August and is now up by 70%, to $3.675. The price has risen above several important resistance levels. Its most recent was at $3.552, which is its highest point on July 22nd.
It has also moved above the resistance at $2.810 which was its high on August 24, and lowest on May 1, as well. The coin has also moved over the trendline ascending that links the lowest swings from September 6 to May 1.
Ether also has a similar golden cross as 50-day Exponential moving averages (EMA) and 200-day EMA. This is usually one of the bullishest patterns on the market. The price has also moved above the Fibonacci level of 23.6% at $3 488.
The Relative Strength Index and MACD continue to point upwards. This is a good sign. The ETH coin’s path is therefore bullish. Its next target is $4,093, which represents its high point for this year and is 12% higher than the current price.
Bullish views will depend on if Bitcoin keeps rising and pierces $100,000, an important resistance. Ethereum’s price could rise to $5,000 or more in December if this occurs.
Ethereum’s fundamentals are strong
Ethereum has the strongest fundamentals of any crypto currency, despite its problems. In the last 30 days, its DeFi Total Value Locked (TVL), which is the total amount of value that has been locked in a cryptocurrency wallet, rose 40% to $71 billion. It is larger than all ten other networks combined.
Ethena, Maker, Uniswap and Ethena are among the biggest Ethereum DeFi players.
Ethereum remains a major player in the DEX market, with its DEX protocol having handled volumes worth more than $3.12 trillion. These protocols include Uniswap and Curve Finance.
Ethereum remains the money king of the crypto world, having made more than $2.5 billion this year in fees. Other top networks include Tether, Tron Lido, Bitcoin, and Lido.
The post Ethereum Price Prediction by Crypto Pundits Sees It Reaching $10k will be updated as new information becomes available.
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