Ether Traders Anticipate Potential All-Time High as Market Signals Bullish Momentum
The post Ether Traders Anticipate Potential All-Time High as Market Signals Bullish Momentum appeared on BitcoinEthereumNews.com.
The recent surge in Ether’s price has investors buzzing with optimism, as many anticipate potential all-time highs in the coming weeks. Notably, Ether’s price has shown significant structural changes, hinting at substantial market movement ahead. Ryan Adams, host of the Bankless podcast, highlighted the possibility of Ether (ETH) hitting new highs, indicating that this week’s market action could be pivotal. Investors are optimistic as Ether’s price experiences structural shifts, with predictions of an imminent rally towards its all-time high of $4,878. Ether traders to closely watch seven day timeline Market analysts are pointing to the next seven days as a crucial period for Ether. In order for ETH to regain its previous peak of $4,878, a 24% weekly gain from its current price of $3,934 is required, according to CoinMarketCap. This ambitious target underscores the bullish sentiment that is permeating the market. As of now, Ether has demonstrated a remarkable performance, with an increase of 66.67% over the past year. Such upward momentum has led to renewed interest among traders eager to capitalize on potential price movements. Adding to this excitement, prominent crypto trader Pentoshi noted on December 9 that Ether is undergoing significant structural changes and hinted at the beginning of “…consistent and large ETF flows.” He praised Ether’s recent performance, stating it achieved its highest weekly close of the year. Analysts like Pentoshi echo the sentiment that a retest of the all-time high could be imminent, as he noted, “There is not much resistance from here to ATH, which should act as a magnet. Above that is clear skies.” Market Sentiment: A New All-Time High on the Horizon? Investor sentiment is further bolstered by the assertion from pseudonymous trader Poseidon. He recently disclosed on December 9 that, “ETH is about to break out of its 4-year, 1,460-day range…
Filed under: News - @ December 9, 2024 6:15 am