EthereumThe new price momentum appears to be slowing down as bears once again dominate the market. Despite the waning price strength, several cryptocurrency analysts remain optimistic about the trajectory of crypto assets and predict that ETH could rebound in the near term.
Ethereum ready for explosive growth
Market expert and trader Javon Marks said the price of Ethereum could be gearing up for its next explosive growth. projection A roughly 75% ETH price surge is imminent. This shows his strong confidence in the potential of cryptocurrency assets despite increased market volatility.
Javon Marks points out key technical indicators and patterns that show: altcoin Combining momentum, we expect to see a significant uptick in the coming weeks. As the cryptocurrency asset continues to see positive sentiment in the market, Ethereum could reach new peaks during the expected surge.
After examining the current price performance of ETH, Javon Marks believes that a big move is on the horizon following a breakout of the Relative Strength Index (RSI) and several proven Hidden Bull Divergence patterns. According to experts, this breakout could trigger a sustained move towards the $4,811.6 price level, just inches away from the all-time high of $4,878.
The expert highlighted that prices have risen by almost 120% since the RSI occurred, which suggests that an uptick is already underway. As a result, Javon Marks expects Ethereum to move another 75% to reach the $4,811 price level, which is further confirmed by this confirmation and breakout.
Marks’ prediction is wider field of view Bitcoin, the largest cryptocurrency asset, may determine ETH’s next move. “It may be almost clear what the next step is for ETH, which could follow the leaders and achieve $4,811 and above, which would require Bitcoin to rise much higher,” he said.
At the time of the post, he noted that if ETH’s subsequent run to $4,811.6 is verified, BTC could rise further and surpass $67,559, which would ultimately pave the way for BTC to rise above $116,000. Moreover, with this move Bitcoin It will lead the general cryptocurrency market to an upward trend.
Is $6,000 ETH possible this cycle?
ETH Optimistic predictions are pouring in right now. Ali Martinez, another cryptocurrency expert and trader, said: arrangement A potential scenario could see the altcoin reach an all-time high of $6,000, sparking optimism in the community.
This prediction is strengthened by Ethereum’s resilience at the $2,400 support level. According to Martinez, the altcoin has maintained a strong hold on its support range since breaking above $2,400 and may now be targeting roughly the upper limit of the channel. $6,000.
Featured image from Unsplash, chart from Tradingview.com