Key Takeaways
- Ethereum’s price rebounds towards $3,000 amid speculation of a bullish rally.
- Crypto experts applaud ETH’s price holding the key demand zone at $3k following the recent market crash.
- Crypto experts believe the bull market is far from over for altcoins, as the market looks to rebound amid higher BTC trading.
Ethereum is back up once more, trading above $3,000 for the first time in weeks, following the price of BTC crashing from its all-time highs towards a region of $80k, raising speculation of a potential market crash towards $50k, which could have seen altcoins suffer a severe market crash in price, possibly triggering a bear market.
The last few days have been about the market recovering, as Bitcoin’s price has been trading towards $90k. Altcoins, including Ethereum (ETH), have also started trading towards $3,000, raising market hype of a rally again.
The price of ETH is expected to aim for potential highs of $3,700 in the coming days, as the market looks bullish on short-term price action. This price level could be confirmed if this region breaks to the upside, or rejected if it is not.
According to Merlijntrader, the price of the crypto asset has tapped its key demand zone, suggesting strong bullish price action could see the second-largest cryptocurrency by market capitalization rally higher, with altcoins trending strongly in its wake.
Additionally, AshCrypto has predicted that the price of ETH on the weekly timeframe could trade even higher if it respects its key demand zone in the coming weeks, as the price is speculated to be on track towards a $5k potential high.
Is this possible before the end of the year for the price?
Ethereum (ETH) Price Action Up or Down?
Source – Ethereum Analysis on X
Crypto trader Van de Poppe on his X account has insisted the price of ETH looks prime to trade to the upside, as price has respected its demand zone on the weekly timeframe despite a scare of losing it to the downside, with price responding strongly towards $3k.
As institutional investors and whales accumulate around this price zone, this could help the price build strong upside momentum, as he claims the bull market is far from over, despite other traders’ differing opinions.
Overall, ETH’s price action could move higher toward $3,700, which looks like a more realistic target.
FAQs
Will Ethereum reach $10,000?
The possibility of the crypto asset reaching $10,000 before the year ends seems unlikely, as the price has struggled over the last few weeks but could trade around $3,700.
What is the future of Ethereum?
ETH has a future, as many crypto projects would be built on its network, leveraging its security to develop a sustainable system that could provide improved payment solutions.
Should I hold or sell Ethereum?
The decision to hold or sell ETH depends on individuals, as the crypto asset’s price is volatile under different market conditions.
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