Ethereum

<div class="dailyhodl">
 A widely followed crypto analyst says that there’s a chance that Bitcoin’s (BTC) recent rally may be tapped out.
 Crypto analyst Michaël van de Poppe tells&nbsp;his 679,000 followers on the social media platform X that the buzz surrounding BTC generated by rumors of an exchange-traded fund (ETF) approval has probably reached a limit.
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 “Bitcoin is probably getting topped out around the ETF approval and will move inside a range.&nbsp;
 That range, and the recent week, is a signal for strength on the remainder of the markets to catch up.
 Ethereum is likely to run to $3,000+.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GCbtqMbW0AAaRl7?format=png&amp;name=4096x4096" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Michaël van de Poppe/X
 </figcaption>
 </figure>
 BTC is worth $42,455 at time of writing, down 3% in the last week. As for Ethereum (ETH), the leading smart contract platform is currently worth $2,361.
 Looking at Polygon (MATIC), Van de Poppe&nbsp;says&nbsp;the ETH layer-2 scaling solution has been falling behind other top altcoins like Solana (SOL) and Avalanche (AVAX).
 “Lagging behind on SOL and AVAX but starting to get momentum.
 Anything in the $0.89-0.96 region is an excellent entry at a retest.&nbsp;
 Continuation seems likely towards $1.30.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GCcFmqsXoAAior_?format=png&amp;name=4096x4096" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Michaël van de Poppe/X
 </figcaption>
 </figure>
 MATIC is trading for $1.01 at time of writing, up 29% in the last week.
 The analyst also&nbsp;breaks down&nbsp;the ETH layer-2 scaling solution Arbitrum (ARB), saying the MATIC competitor could explode up to the $2 range.
 “I’ve posted some updates on ARB.
 Retest at $0.98 did work, continuation towards $1.35 as well and even further.&nbsp;
 Some beautiful S/R (support/resistance) flips, I think $1.40-1.45 should hold and we can continue to $2.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GCbMQx2WIAAgcBK?format=png&amp;name=4096x4096" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Michaël van de Poppe/X
 </figcaption>
 </figure>
 ARB is worth $1.52 at time of writing.
 Van de Poppe also&nbsp;takes a peek&nbsp;at the smart contract platform Near Protocol (NEAR), saying that he expects the Ethereum rival to cool off after a recent major run-up.
 “Massive run upwards as it rallied with more than 100%.&nbsp;
 Expect a more extended period of consolidation before another impulse is likely to occur.
 In that regard, not interested until we reach &lt;$3.40, and then I’m looking for potential entries.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GCcG3-5WQAApIzG?format=png&amp;name=4096x4096" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Michaël van de Poppe/X
 </figcaption>
 </figure>
 NEAR is trading for $3.84 at time of writing, down 5% on the last day.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-weighs-in-on-bitcoin-btc-two-top-ethereum-layer-2-solutions-and-one-eth-competitor-tbt75054.html">https://thebittimes.com/crypto-analyst-weighs-in-on-bitcoin-btc-two-top-ethereum-layer-2-solutions-and-one-eth-competitor-tbt75054.html</a>

Crypto Analyst Weighs In on Bitcoin (BTC), Two Top Ethereum Layer-2 Solutions and One ETH Competitor

TheBitTimes

Other articles published on Dec 28, 2023

Breaking: Binance Founder Changpeng ‘CZ’ Zhao Seeks Order Related To Travel Permission

Kandola Network $KAN Fundamental Analysis: Revolutionary Web3 Infrastructure for the Decentralise...

XRP Price Pump Anticipation, Analysts Predict a Potential Surge

Dogecoin Continues to Attract Attention, While a New Meme Cryptocurrency Silently Amasses Over $950K

Ethereum’s Price Skyrockets: What’s Behind the Surge and What’s Next?

Chainlink (LINK) Price Shoots 17% Amid Strong Whale Activity

Join our free newsletter for daily crypto updates!