Crypto Analysts Predict Ethereum Upcoming Rebound: Timing & Insights

Ethereum has garnered attention from market watchers lately as it hovers on the edge of a potential upswing. After dropping to $2,815, ETH experienced a strong recovery, peaking at $3,220. However, this upward momentum was brief, followed by a subsequent decline. Despite this setback, cryptocurrency analysts remain optimistic about Ethereum’s future, citing key factors that could influence its price trajectory.

Furthermore, a notable event is on the horizon. The Securities and Exchange Commission (SEC) is set to make crucial decisions regarding three Ethereum Exchange-Traded Fund (ETF) applications by May 25th. This development is significant for both the Ethereum community and the ETH market.

At present, Ethereum’s price is $2,972.28. Its 24-hour trading volume is $11.96 billion, and its market capitalization is $357.01 billion. In the last 24 hours, ETH has seen a 1.17% increase in price.

Crypto analyst Titan Of Crypto provided unique insights into Ethereum’s price trajectory, suggesting an imminent uptick in its value. Emphasizing the successful execution of the Bullish Cypher Pattern, all projected targets were achieved.

Ethereum is currently valued at $2,972.28, with a trading volume of $11.96 billion and a market capitalization of $357.01 billion. Its price has increased by 1.17% in the last 24 hours.

Ethereum Bullish Momentum Prevails

Additionally, analyst JACKIS’s sentiments reflect a reassuring stance, dismissing the possibility of a major crash for ETH. Highlighting Ethereum’s expansive high timeframe (HTF) range, particularly its breakthrough to $4K in March, indicates a significant shift in market structure towards the upside.

Moreover, a closer examination of the local Weekly Market Structure (MS) reveals sustained bullish momentum. This trend is evidenced by Higher Lows (HL) and Higher Highs (HH), reflecting its dynamic nature amidst market swings. The ongoing corrective phase is a natural pullback within the broader bullish trajectory. Conversely, a bearish retreat on March 22, marked by the yellow highlight, led to a further decline.

Yet, the prudent approach is to follow the current trend as long as it persists. Trading based solely on desires for breakouts is unlikely to be profitable. Achieving the All-Time High (ATH) is another significant high time frame (HTF) level attainable for those who demonstrate patience.

Related Reading | Ripple CEO Brad Garlinghouse Denies “Attacking” Tether

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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