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Ethereum (ETH) Set to Reach $4,000 Amid Market Volatility and Bybit Hack Fallout

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  • Ethereum dropped to $2,326 but rebounded to $2,486.47, showing potential for growth.
  • The Bybit hack, stealing $1.4B, added to market fears, with Ethereum as a key target.
  • Technical indicators suggest a possible recovery, with ETH aiming for higher prices like $3,200 or $4,000.

Ethereum (ETH) has faced significant turbulence in recent days, as it witnessed a sharp decline that led to the loss of its crucial support levels. This downturn in Ethereum’s price coincided with Bitcoin’s recent dip below the $90,000 mark, which sparked widespread fear throughout the cryptocurrency market. The massive sell-off sent ETH to a low of $2,326, but ETH has shown resilience by bouncing back as market conditions began to stabilize.

As of today, ETH’s price stands at $2,486.47, with a 24-hour trading volume of $46.92 billion and a market capitalization of $299.63 billion. Despite a -5.72% drop in the last 24 hours, Ethereum’s price bounce signals potential for further growth as investor confidence begins to return.

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Ethereum (ETH) Set to Reach $4,000 Amid Market Volatility and Bybit Hack Fallout 5

Ethereum Faces Market Fears Amid Bybit Hack

In addition to the ongoing market volatility, Ethereum (ETH) has been caught up in a larger crisis following a significant cybersecurity attack on the Bybit cryptocurrency exchange. Hackers exploited vulnerabilities and managed to steal over $1.4 billion worth of virtual tokens, with ETH being the primary target. The attack has sent shockwaves through the market, exacerbating existing fears and contributing to further selling pressure.

With ETH accounting for a substantial portion of the stolen funds, concerns over security risks and potential future hacks have led to widespread fear across the cryptocurrency ecosystem. This event has amplified the uncertainty in the market, forcing traders to reevaluate their positions.

Ethereum Short-Term Recovery Potential

Despite the current challenges, Ethereum’s technical outlook suggests a potential short-term recovery. Well-known crypto market analyst Daniel Ramsay recently pointed out that ETH’s price chart on the 4-hour timeframe shows a symmetrical triangle pattern, signaling an accumulation phase. Such a setup could indicate that ETH is poised for an upward breakout.

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Ethereum (ETH) Set to Reach $4,000 Amid Market Volatility and Bybit Hack Fallout 6

Furthermore, Ethereum is holding above its multi-year trendline and the 100-period moving average on the weekly chart, suggesting that the asset could maintain bullish momentum in the coming weeks. Ethereum could target higher price levels, potentially reaching $3,200, $4,000, $4,850, $6,000, and even $7,500 if the bullish trend continues.

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Ethereum (ETH) Set to Reach $4,000 Amid Market Volatility and Bybit Hack Fallout 7

Ethereum Short Squeeze on the Horizon

An additional factor contributing to the potential for a price surge is the massive number of ETH short positions that could be liquidated if the price rises. According to data, around $2 billion worth of ETH shorts could be wiped out if Ethereum’s price reaches the $3,000 mark. This could trigger a short squeeze, potentially driving ETH prices even higher and accelerating the recovery.

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Ethereum (ETH) Set to Reach $4,000 Amid Market Volatility and Bybit Hack Fallout 8

While ETH has faced significant setbacks in recent days, its resilience and ability to bounce back from recent lows suggest that there may still be room for growth. With the market slowly stabilizing and positive technical indicators, Ethereum could be poised for a strong recovery in the near term.

However, external factors such as cybersecurity threats and market sentiment will continue to play a significant role in ETH’s price movements. Investors will need to closely monitor both the technical charts and the broader market environment to assess the likelihood of ETH reaching new highs in the coming months.

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Ethereum Gains Strength as $7,100 Target Comes Into Focus but Bears Lurk

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  • Ethereum remains above key support, signaling strength and potential for a breakout.
  • A major whale recently deposited 20,000 ETH into Kraken, suggesting confidence in future price action.
  • An inverse head-and-shoulders pattern indicates a bullish setup for Ethereum.
  • Analysts predict a potential surge to $7,100 if resistance is broken.

Ethereum (ETH) has maintained its position above a crucial support level, signaling strength amid recent market fluctuations. Analysts suggest that ETH is on the verge of a major breakout, with the potential to outperform the broader cryptocurrency market in the coming weeks.

Over the past week, Ethereum has gained 2.13%, benefiting from a market recovery led by Bitcoin’s recent rally. This surge in Bitcoin’s value injected fresh optimism into the market, providing altcoins like Ethereum with a strong foundation. However, as Bitcoin’s momentum slowed and faced minor setbacks, Ethereum also experienced short-term declines.

At the time of writing, ETH is trading at $3,298.33, with a 24-hour trading volume of $37.48 billion. ETH currently holds a market capitalization of $397.42 billion. Despite a 4.23% decline in the past 24 hours, Ethereum remains well-positioned for a potential surge.

Historical Trends Suggest Ethereum Is Primed for Growth

Looking at historical data, ETH has consistently demonstrated strong price performance in the first quarter following a Bitcoin halving year. If this pattern holds, ETH could be gearing up for a massive rally in early 2025.

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Ethereum Gains Strength as $7,100 Target Comes Into Focus but Bears Lurk 12

Adding to this bullish outlook, recent data from Spot On Chain highlights significant movements by a major ETH whale. This whale, who has already amassed an estimated profit of $208.4 million, recently deposited 20,000 ETH ($67.5 million) into Kraken.

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Key Whale Transactions:

  • In September 2022, the whale withdrew 120,874 ETH from Kraken at an average price of $1,645, totaling approximately $199 million.
  • Since then, the whale has deposited 50,000 ETH back into Kraken at an average price of $3,351 per ETH ($167.6 million).
  • In the past month alone, 35,000 ETH ($122 million) has been offloaded.
  • The whale’s current holdings stand at 70,874 ETH, valued at $240 million, with a total profit of 104% ($208.4 million).

Such large-scale whale movements often indicate growing confidence in Ethereum’s future price action, reinforcing the possibility of an impending breakout.

Ethereum Eyes $7,100 Target Amid Bullish Signals

From a technical analysis perspective, Ethereum appears to be forming a classic inverse head-and-shoulders pattern. This pattern is widely regarded as a strong bullish indicator, often signaling the start of a major price rally.

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Ethereum Gains Strength as $7,100 Target Comes Into Focus but Bears Lurk 14

If ETH successfully breaks through resistance, analysts predict a potential surge to $7,100, nearly doubling its current price. Despite short-term volatility, ETH’s strong historical performance, bullish technical setup, and significant whale activity all suggest that a massive rally could be on the horizon.

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Ethereum’s Resilience and Bullish Setup Suggest a $7,300 Surge Ahead

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  • Ethereum recently corrected from $4,106 to $3,098, sparking debates on its short-term direction.
  • Analysts believe Ethereum’s current market position is stronger than during the 2020 cycle, with only a 44% drop from its ATH.
  • Analyst identifies a potential $7,300 target for ETH, based on an inverse head and shoulders pattern.

Ethereum (ETH) has recently demonstrated both its vulnerability and resilience, experiencing significant price movements that have caught the attention of market analysts and investors alike. The leading smart contract platform recently touched $4,106 before experiencing a substantial correction to $3,098, sparking intense discussion about its near-term trajectory.

Ethereum Positioned Stronger Than 2020 Cycle

Despite the recent pullback, prominent analysts remain optimistic about ETH’s position in the current market cycle. Crypto analyst Titan Of Crypto has presented a compelling comparative analysis, noting that Ethereum’s current market position is actually stronger than during the previous bull cycle.

According to their analysis, ETH is currently only 44% below its previous all-time high (ATH), marking a significantly more favorable position compared to December 2020, when it was trading 90% below its previous peak.

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Ethereum's Resilience and Bullish Setup Suggest a $7,300 Surge Ahead 16

“The current market dynamics suggest a more mature and resilient Ethereum,” notes Titan Of Crypto, reminding investors that during the last cycle, ETH didn’t reclaim its ATH until January 2021. This historical perspective offers a sobering counterpoint to market participants who might be growing impatient with Ethereum’s recent performance.

Ethereum’s Bullish Setup Signals $7,300 Target

Adding to the bullish narrative, analyst Crypto Patel has identified a technical formation that could signal significant upside potential. Patel points to an inverse head and shoulders pattern, a technical indicator often associated with trend reversals, suggesting that ETH could target the $7,300 level upon a confirmed breakout.

Market observers note that while recent price action has tested investor resolve, the fundamental case for ETH remains strong.The current technical setup, combined with historical cycle comparisons, suggests that Ethereum’s recent consolidation phase could be setting the stage for its next significant move upward.

With ETH’s critical role in the cryptocurrency ecosystem and its historical tendency to lead altcoin market movements, its next major move could have significant implications for the broader digital asset market.

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Ethereum’s Golden Cross Signals $11K Target by 2025: Will History Repeat?

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  • Despite a 1.45% dip, Ethereum remains above key support levels, signaling potential for bullish movement.
  • A Nexo-connected whale deposited 72,419 ETH onto Binance, sparking speculation about future market moves.
  • Ethereum’s recent Golden Cross on the weekly chart raises expectations of a price surge toward $11,000 by 2025.

Ethereum (ETH) has shown resilience and given indications of upward momentum as 2025 is about to kick in. Though the cryptocurrency recently slipped 1.45%, with its current trading price at $3,859, ETH has been consistently holding above key support levels and flipping crucial resistance levels into support. This shows that the cryptocurrency is gearing up for the next phase of its bullish price trajectory.

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Ethereum’s Golden Cross Signals $11K Target by 2025: Will History Repeat? 19

Over the last day, Ethereum’s trading volume is also down 13%. Though this may be a setback in the short run, it did not knock the overall positive sentiment in ETH.

While the general market conditions remain favorable, Ethereum is well-placed for a potential rally in the following months. Analysts are still optimistic about the future price potential of ETH, and many of them predict that its price will increase significantly.

Nexo Whale Deposits 72,000 ETH, Raising Concerns

According to the latest data from Lookonchain, in a rare development, a whale associated with Nexo unstaked a whopping 18,000 ETH, worth approximately $70.8 million, an hour ago and transferred the funds onto Binance.

This whale has been quite active in moving Ethereum, having sent a total of 72,419 ETH (about $270.6 million) to Binance since Dec 2. Despite these heavy movements, the whale still has 42,108 ETH, which is valued at about $165 million.

When these move in and out, they are watched by market participants because it tends to lead to broader trends. While some may view large exchange deposits as potential selling pressure, others will recognize this as preparation for further upward pressure, depending on what will be done with these funds.

Golden Cross Hints at Ethereum Surge Toward $11K

Adding to the positive outlook, crypto analyst Titan Of Crypto indicated that Ethereum is ready for more gains, citing a possible price tag of $11,000 for ETH by 2025. This speculation follows from technical indicators, foremost of which is the supposed Golden Cross formation on the Ethereum weekly chart.

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The last time this pattern appeared, back in early 2021, ETH surged by 200% in just 10 weeks. If history repeats itself, Ethereum might see a similar explosive move, potentially pushing its price toward the $11,000 mark.

The currently ongoing market activity, which is combined with technical pattern formation and positive investor sentiment-both point toward Ethereum geared up for a big move through 2025. Spurred by whales, forced by technical factors, and/or compelled by broader general market trends, ETH remains highly watched with strong potential futures.

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Ethereum’s Golden Cross Points to Potential 3x Price Surge in 10 Weeks

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Key Takeaways:

  • Spot Ethereum ETFs recorded $83.76M in inflows on December 6, signaling strong institutional interest.
  • A whale deposited 60,079 ETH into Bitfinex, realizing a 20.7x return over six years.
  • The “Golden Cross” pattern hints at a potential 3x price rally based on historical trends.

Ethereum (ETH) is gaining momentum, with bullish signals fueling expectations for higher price targets. The cryptocurrency has been riding a positive price trajectory, supported by increased investor confidence and market activity.

At the time of writing, ETH is trading at $3,991.66, reflecting a 2.41% increase in the past 24 hours. With a 24-hour trading volume of $64.98 billion, ETH’s market cap stands at $480.77 billion, giving it a market dominance of 13.09%. These metrics underscore Ethereum’s strong position in the crypto market.

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Ethereum’s Golden Cross Points to Potential 3x Price Surge in 10 Weeks 24

$83M Ethereum ETF Inflows Signal Strong Momentum

According to the latest statistics by SoSoValue, inflows into Ethereum spot ETFs continue. Ethereum spot ETFs saw a net inflow of $83.76 million on December 6, extending the streak of inflows to ten days.

Of the notable funds, Fidelity’s saw daily net inflows of $47.88 million, while BlackRock’s ETHA ETF attracted inflows amounting to $34.56 million per day. This consistent investment reflects increasing interest from institutional investors, demonstrating optimism in Ethereum’s prospects for the future.

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Ethereum Whale Activity Signals Strategic Moves

Whale movements further point to ETH’s bullish narrative. According to data from Spot On Chain, one of the largest whales transferred 60,079 ETH valued at $234 million into Bitfinex after holding for almost six years. This particular whale had first withdrawn 87,085 ETH from Bitfinex back in 2019 at an average price of $153 per token.

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Over the years, the whale made strategic transactions, including a 2020 transfer to Tornado Cash and redepositing substantial amounts at an average price of $3,331 in late 2023 and 2024. If these transactions were trades, the estimated profit of the whale stands at an impressive $274.8 million, reflecting a 20.7x return.

Ethereum Targets 3x Gains with Golden Cross Momentum

Technically, viewers are heralding a bottom for another rally. At the very latest, analysis from Trader Tardigrade noted the appearance of the “Golden Cross,” the crossing of the 100-day moving average above the 200-day moving average.

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Historically, this has always been a precursor to strong price surges. In ETH’s last cycle, this crossover translated into a 3x price increase. With this pattern now unfolding, the likelihood of a 10-week rally is very real.

This strong on-chain activity of Ethereum, in addition to the continuous inflows from institutions and promising technical indicators, all paint a very optimistic picture. With market conditions slowly starting to align, ETH could see a significant upward trajectory over the coming weeks.

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Ethereum Whales Activity Surges: Will ETH Break $4,000 or Drop Below $3,650? Analyst Insight

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Renowned crypto analyst Ali Martinez has brought attention to a notable trend in the Ethereum market. Over the past three weeks, the number of Ethereum addresses holding 10,000 or more ETH has surged by 3%. This increase indicates a significant spike in buying pressure among large-scale investors, often referred to as “whales.”

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This uptick in large holders could signal a positive outlook for Ethereum, as increased accumulation by whales often precedes significant price movements. Investors and analysts alike are closely monitoring these developments, anticipating potential impacts on the broader crypto market.

As of the latest data, Ethereum’s price stands at $3,698.25, with a 24-hour trading volume of $12.20 billion and a market capitalization of $444.30 billion. Despite this bullish activity among major holders, the ETH price has slightly dropped 0.28% in the past 24 hours.

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Will Ethereum Break $4,000 or Drop Below $3,650?

In a recent analysis, prominent crypto analyst Crypto Patel outlined potential scenarios for Ethereum (ETH) price movements. Patel’s insights delve into both bullish and bearish outcomes, providing a detailed forecast based on current trading patterns.

Ethereum (ETH) is currently trading within a bull flag or parallel channel pattern against the USDT. This setup typically indicates a period of consolidation before a potential breakout. Traders and investors are keenly observing these patterns to determine their next moves.

According to Patel, a bearish scenario could unfold if ETH breaks below the crucial support level of $3,650. Should this happen, Ethereum might experience a significant drop towards $3,152. This level is noteworthy as it represents the last Fair Value Gap (FVG), a region where prices previously moved quickly, leaving little traded volume behind.

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On the other hand, if Ethereum manages to stay above the level of $3,152 support, then it turns into a bullish one. As Patel predicts, following this, ETH can rally up to $4,000 in the meantime. Go past that resistance, and a hugely bullish wave could knock Ether to $6,000-$7,000.

Crypto Patel’s analysis reiterates the importance of vigilance on important support and resistance levels in this existing trading scenario. Traders must remain alert and change their strategies according to these potential breakout points.

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Ethereum Price Analysis: Analysts Set Sights on $4,050 Amid Bullish Momentum

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Ethereum (ETH) is experiencing a remarkable rise in value, breaking through resistance levels and setting the stage for a potential rapid increase. This shift in momentum marks a significant change from its earlier bearish trend as Ethereum transitions into a bullish phase. This positive development has not gone unnoticed, drawing substantial attention from analysts and investors who are optimistic about its future trajectory.

Over the past week, Ethereum’s price has increased by 9%, reflecting a strong upward trend. The broader market sentiment has also turned bullish, with Bitcoin leading the charge. As Bitcoin makes upward movements, it sets a positive tone for the entire cryptocurrency market. 

However, this has a ripple effect, with several altcoins gaining increased attention and experiencing significant surges in their values. Among these altcoins, Solana, Chainlink, and Avalanche (AVAX) are standing out, showing impressive performance alongside Ethereum.

At the time of writing, Ethereum’s price stands at $3,140.28. In the last 24 hours, its trading volume has reached $12.79 billion, with a market capitalization of $377.22 billion. This recent activity includes a 3.41% increase in its price within the last day, highlighting the ongoing positive momentum in Ethereum’s market performance.

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Ethereum Breaks Out: Analyst Predicts $4,050 Target

Crypto analyst Crypto Yaper has shared an optimistic forecast regarding Ethereum’s future price movements. According to the analyst, Ethereum has broken out of a significant Falling Wedge formation, a bullish indicator that suggests further price increases. 

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Crypto Yaper emphasized the potential impact of the anticipated Ethereum ETF (Exchange-Traded Fund) on the market, predicting that this development could drive Ethereum to new highs. The analyst has set a breakout target of $4,050, reflecting his confidence in Ethereum’s bullish momentum.

Adding to this positive outlook, another analyst, Daniel Ramsey, expressed similar sentiments about Ethereum’s price trajectory. Ramsey pointed out a Bullish Flag formation just below the $3,400 Key Supply Zone on the weekly chart, highlighting its importance as a critical level. 

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The analyst suggested breaking through this zone would propel Ethereum above $4,000. Ramsey is highly optimistic, stating that Ethereum is on the verge of reaching an all-time high. The analyst outlined specific price targets, with the first target price (TP1) set at $4,000 and the second target price (TP2) at $4,470.

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Ethereum’s Bullish Momentum Faces Critical Resistance Amid SEC’s Spot ETF Decision

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Crypto e­xpert Ali Martinez noted that the­ TD Sequential indicator signaled a buy sign on Ethe­reum’s (ETH) daily price chart. This signal hints at a potential price­ increase, possibly lasting one to four candle­stick periods. It suggests ETH could expe­rience a short-term rally in the­ next few days.

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At present, Ethereum’s price is $2,916.15. In the past 24 hours, the cryptocurrency has had a trading volume of $11.40 billion, and its market capitalization is $350.28 billion. Despite this positive buy signal, the price of ETH has experienced a marginal decline of 0.01% in the last 24 hours. 

Ethereum May Test $2500 Support Before Bullish Flag Breakout

Famous crypto analyst Crypto Patel has identified a major pattern in the ETH/USDT daily chart that points towards the continuation of an uptrend in Ethereum. According to Patel, ETH is forming a bullish flag pattern, a technical formation often indicative of further gains. Note the critical resistance level around $3200 and the 200-day Exponential Moving Average (EMA) standing approximately around a critical support level of $2632.22.

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Recent market activity saw a fakeout near the resistance, where the price briefly moved above the resistance level but then fell back. The price of Ethere­um is now stable and may be gearing up for a bullish flag patte­rn breakthrough. Analyst Patel suggests that ETH might te­st the $2,500 support level be­fore this breakout. Trade­rs need to kee­p an eye on this critical point.

Another we­ll-known analyst, Cryptorphic, agrees with Patel’s analysis. Cryptorphic points out that Ethe­reum is upholding the bull flag pattern, with the­ $2,700-$2,800 support zone remaining intact. Howeve­r, Ethereum has yet to rise­ above the blue EMA and the­ upper trendline, which is crucial for confirming a bullish tre­nd.

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Ethereum ETF Approval Could Drive Prices Higher

The SEC’s pending decision on whether to approve a spot Ethereum Exchange-Traded Fund (ETF), which is expected on May 23, 2024, is only building up market anticipation. Two questions arise from this decision: Will the spot ETH ETF be approved by the SEC, or will it delay or reject it? Is it possible for the spot ETH ETF to achieve what has been done by the spot BTC ETF?

This SEC ruling will significantly affect ETH’s price. If approved, it might increase Ethereum’s value, similar to Bitcoin’s spot ETF. Conversely, if delayed or turned down, it may stop the existing bullish momentum. Market players should, therefore, pay close attention to whatever they do until the SEC gives its verdict and also try to keep themselves updated regarding any regulatory developments.

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Analyst Forecasts Ethereum’s Imminent Bounce On the Horizon, Here’s When

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Ethereum’s recent performance has been catching the eye of market observers as it teeters on the brink of an upward surge. After dipping to $2,815, ETH staged a robust recovery, reaching $3,220. However, this momentum was short-lived, leading to a subsequent decline. Despite this setback, crypto analysts remain bullish on Ethereum’s prospects, identifying pivotal factors that could shape its future price trajectory.

Moreover, a significant event is looming on the horizon. The Securities and Exchange Commission (SEC) is poised to make critical decisions regarding three Ethereum Exchange-Traded Fund (ETF) applications by May 25th. This development holds immense significance for the Ethereum community and the ETH market. 

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As of the current moment, the price of Ethereum stands at $2,972.28, accompanied by a 24-hour trading volume of $11.96 billion and a market capitalization of $357.01 billion. Over the past 24 hours, the price of ETH has experienced a 1.17% increase.

Analyst Predicts Imminent Bounce For Ethereum

Crypto analyst Titan Of Crypto shared insights regarding Ethereum’s price trajectory, indicating an impending bounce in its value. Highlighting the successful execution of the Bullish Cypher Pattern, all projected targets were met.

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Presently, Ethereum finds itself at the pivotal 38.2% Fibonacci retrace level, often dubbed the “1st stop,” which historically serves as a crucial marker in bullish markets. An optimistic outlook anticipates a rebound from this juncture.

Furthermore, the sentiments echoed by analyst JACKIS underscored a reassuring stance, dismissing prospects of a colossal crash for ETH. Emphasizing Ethereum’s current expansive high timeframe (HTF) range, particularly noting its breakthrough to $4K in March, signifies a significant paradigm shift in market structure towards the upside.

Furthermore, a deeper probe into the local Weekly Market Structure (MS) shows sustained bullish momentum. Such a trend has been identified by Higher Lows (HL) and Higher Highs (HH), indicative of its dynamic nature as market swings. The ongoing corrective phase represents a natural pullback within the broader bullish trajectory. On the other hand, a bearish retreat on March 22, represented by the yellow highlight, brought about a further decline.

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However, the reasonable course of action is to stick with the ongoing trend while it lasts. Trading upon breakouts based on mere wants can never be profitable. All Time High (ATH) is another major HTF level, achievable for those who exercise patience.

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