The price (ETH) of Ether, the Ethereum Cryptocurrency, reached USD 4.880 yesterday, surpassing the previous historic maximum (ATH) registered four years ago, unleashing the wave of market forecasts.
rebound It happened after a speech by the President of the US Federal ReserveJerome Powell suggested the potential for interest rate reductions to promote interest rates.
In the last 24 hours, ETH has risen 15%, bringing the cryptocurrency market capitalization to US$40.3 billion. As reported in encryption, the etheric domain is currently 14.1% compared to 57% of Bitcoin (BTC).
With a capitalization of approximately USD 569,000 million, ETH remains the most valuable asset of 20 seconds in the world, surpassing companies like MasterCard and Netflix.
But what are the analysts’ opinions? When we arrive at the new historic biggest, Experts and enthusiasts shared market forecasts.
Analyst Ted Pillows said, “Having support of USD 4,600 indicates strength. If Ethereum runs deeper tests, USD 4.370 is the next stop.”
Trader and analyst Michael Van de Poppe also said: We warned about possible fixes before continuing the upward trend.. He revealed he was looking for a bound entry between the level 4,100 US$, which served as support, and the region 3,900 US$, which served as resistance.
The reason for this is “I don’t think we’re continuing to rise at once,” he said. He further emphasized that “ETH’s huge upward movement indicates that we are facing Altcoins’ takeoff.”
This added an analyst known as the Mustache, highlighting that Ethereum’s impulse involves positive signals from the cryptocurrency market in general.
“ETH reached a new historic maximum nearly four years later. Meanwhile, a total of two (the total market capitalization of cryptocurrencies except Bitcoin) has destroyed more than a year of resistance. Few signals are more bullish for altcoins.
For the pseudonym lover Etherwith, The current behavior reflects past cycle patterns: “ETH does the exact same thing that led to massive rebounds in the 2017 and 2021 cycles: first catching the bull and then surrendering to catch the bear.”
In his opinion, what follows is an increase in the process for three to four months. “Now we’ve just entered the path of rising,” he said from an upward perspective.
Historically, after a long period of Bitcoin cycle, the market usually sees etheric rebounds and later from other altcoins, with the influence of growing investor enthusiasm.
Some analysts expect this pattern to repeat, while others believe this cycle can be developed differently. In any case, it is important to remember that past events do not guarantee you will happen again.
Analyst Aleksandar Svetski recently highlighted that Bitcoin has maintained its creation and its monetary policy that has been invariant since Ethereum No. In contrast to ETH, BTC only has 21 million BTC. ETH may change broadcasts according to its developer’s decisions, which may affect prices.
Unlike ETH, which surpassed the peak of the Alcista cycle four years ago, BTC has reached its new largest historic price since last year, marking a record of USD 122,000 last week. The arrival of such contributions means an 80% increase from the maximum US$69,000 marked in the bull cycle in 2021.
