The post Why ETH Price Could be Poised for a Major Bull Run appeared on BitcoinEthereumNews.com.

Despite being the most traded altcoin in the crypto market, Ethereum (ETH) has not performed to the expectations of many investors. While Bitcoin’s (BTC) price has pumped over 8 percent in the past few days to retest its all-time high (ATh) above $73k, Ethereum price has continued to consolidate in the same symmetrical triangular pattern that began after the August 5 crypto crash. The large-cap altcoin, with a fully diluted valuation of about $321 billion and a daily average traded volume of about $21 billion, has been signaling potential bullish continuation in the near term. Moreover, Ether’s price against Bitcoin has been retesting a crucial support macro trend line, as BTC dominance reached a major resistance level of about 60 percent. Ether Faces Adoption Headwinds The mainstream adoption of the Ethereum network has faced significant challenges due to the notable emergence of highly competitive similar chains led by Solana (SOL), Toncoin (TON), and BSC network, among others. As Coinpedia recently reported, Solana’s on-chain activity has significantly outpaced Ethereum’s by a huge margin. The thriving Solana’s meme coin space has helped increase its on-chain activity compared to Ethereum’s. Meanwhile, on-chain data analysis shows that Ethereum has faced low demand from whale investors compared to its peers and Bitcoin. On Tuesday, the US spot Ether ETF registered around $7.6 million in cash inflows compared to Bitcoin’s $870 million. What Next for Ethereum Price? #Altcoins | #Ethereum ✴️ Nobody Told Ethereum Bitcoin Was Hitting A New ATH? Is this it? Is the high in? I know you already know what I think but I just wanted to share the joke, the joke in the title… Nobody told ETH what Bitcoin is doing? Hello… It seems Ethereum has been… pic.twitter.com/zMCyV3h38h — Alan Santana (@lamatrades1111) October 30, 2024 According to crypto analyst Alan Santana, Ethereum…

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Filed under: News - @ October 30, 2024 7:24 am