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Home»ETHEREUM NEWS»Is Ethereum expected to show strength? Experts note strong upside potential
ETHEREUM NEWS

Is Ethereum expected to show strength? Experts note strong upside potential

By Crypto FlexsNovember 6, 20243 Mins Read
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Is Ethereum expected to show strength? Experts note strong upside potential
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like Ethereum As altcoins begin to see positive price action once again, several cryptocurrency experts are pouring in optimistic predictions about their near-term trajectory, pointing to a potential rebound in the coming weeks.

Ethereum’s 63% Rise Could Be Coming Soon

optimistically mailMarket expert and enthusiast Javon Marks expressed confidence in the possibility of a bullish breakout, pointing to strong upward momentum in the near term. The expert points out several market signs and technical setups that show promising signs as ETH overcomes recent resistance levels that could set the stage for a price surge.

According to experts, Ethereum seems to be approaching another phase. a significant breakthrough It is a point, and a bullish breakout is likely to occur due to the confirmation and breakout of a previous bullish pattern, meaning that the price movement of the altcoin is similar to past positive trends.

As a result, Javon Marks believes that this major breakout will trigger a price rally towards the $4,080 level, which is more than 63% off its current value change. Moreover, the analyst claims the development could be the start of an even bigger upside in the coming weeks.

Ethereum Breakout Could Spark 63% Growth | Source: Javon Marks from X

Javon Marks’ expected breakthrough coincides with growing sentiment and optimism. altcoinThis means new momentum. Mark’s prediction is also consistent with another market analyst and trader, Ash Crypto. predicted ETH could hit new all-time highs in 2025.

Ash Crypto examined Ethereum’s recent price action and noted that the altcoin has reached a key trendline support that could trigger a notable price surge. This is because the digital asset has witnessed the past three hard pumps that have retested key trend lines.

for the first time ETH Testing the trend line again in 2022 showed that it surged more than 123% in three months, the second time it rose about 107% in seven months, and the last time in 2023 it rose more than 158% in about six months. Therefore, we are confident that if the digital asset repeats this move, Ash Crypto could rise 100% from its current value to a new all-time high in 2025.

Is ETH preparing for a rebound?

After a few days of decline, ETH investors As altcoins begin to make their presence felt in the market, they are heading towards a possible rebound. Ethereum is currently trading at $2,460 and is slowly approaching it, with a short daily increase of around 0.60%. $2,500 price level.

As interest in ETH grows, the asset could continue to gain further gains as the bulls form strong support around the $2,450 level. According to data from CoinMarkCap, ETH’s trading volume has surged more than 20% over the past day.

Ethereum
ETH is trading at $2,475 on the 1D chart | Source: ETHUSDT on Tradingview.com

Featured image from Unsplash, chart from Tradingview.com

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