The post Ethereum (ETH) to Experience a ‘Massive Rally’ Under This Condition (Analysts) appeared on BitcoinEthereumNews.com.

TL;DR Experts foresee a substantial upward movement for ETH, expecting it to quickly gain ground after BTC stabilizes. Key on-chain metrics suggest lowered selling pressure and growing investor interest, hinting at a possible bullish phase for the asset’s price. ETH Bull Run on the Horizon? Despite experiencing a 14% price increase over the last week, Ethereum (ETH) is still lagging behind other leading cryptocurrencies. For instance, Bitcoin (BTC) was up 22% for that period, Ripple’s XRP soared by 30%, and Dogecoin (DOGE) exploded by over 100%. According to numerous analysts, ETH has yet to pump hard. The popular investor using the X moniker CoinMamba envisioned a “massive rally” once BTC settles down. “It will catch up very fast,” they added. Bitcoin has been one of the market’s frontrunners, with its valuation skyrocketing to an all-time high of more than $93,000 on November 13. In the following hours, it retraced a bit and is currently worth around $91,300 (per CoinGecko’s data). It will be interesting to see whether the price will consolidate in the next few days and whether this development will be followed by Ethereum’s potential surge (as predicted).   The X user Skew shared a similar thesis. The trader reminded that ETH performed quite similarly during the previous bull run but eventually charted impressive gains. $ETH looks like its doing the same as it did last bull run lagged BTC & market performance for 2-3 months then broke out probably see something similar to that — Skew Δ (@52kskew) November 13, 2024 Other well-known industry participants foreseeing a bright future for the asset include Ash Crypto and Crypto Beast. The former sees ETH trading in the $10,000-$15,000 range in the next 6-12 months, while the latter set “a realistic target” of $8,000. What are Metrics Suggesting? Some important on-chain indicators…

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Filed under: News - @ November 14, 2024 9:27 pm