Ethereum

2024

<p>The post <a href="https://coinpedia.org/price-analysis/ethereums-recovery-post-crash-teases-a-50-surge-in-q3-2024/">Ethereum’s Recovery Post-Crash Teases A 50% Surge In Q3 2024</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ethereum recovery rally shows a 4.87% price jump in the last 48 hours, as the Bitcoin price sustains above the $56,000 support level. With $52M in short-side liquidations, the bearish grip is loosening over the ETH price trend.&nbsp;</p> 
<p>With the market anticipating a bull run in the Ethereum, the hopes of a bullish rally to a new all-time high resurfaces. So, will the <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ethereum price prediction</a> of reaching $10,000 be true, or will this crash lead to a revised market prediction?&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="h-ethereum-price-performance">Ethereum Price Performance</h2> 
<p>With a market cap of $368 Billion, Ethereum stands as the biggest altcoin and one of the biggest crypto, second only to Bitcoin. Currently, a single <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">ETH token</a> trades at $3,063 with an intraday gain of 1.42% following the overnight jump of 2.99%.&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXf2wIBQDXzAXskaqZteWz4p69YizL9V1aH17oeoLsM-HjlQL1vDEoUTa0ZqQNUSyXQ00D9M71Ld7chGO3Yr0rsIAXpB7OpskV36mgUcJU8UhDv5xlI363p9gamiqoNEtlhsTa-3A5P45wfcLDo-Jd3Kcmxc?key=vVePi6dbTCSZImHqeqxgqA" alt="">
</figure> 
<p><a href="https://www.tradingview.com/x/IT2No2fl/">Tradingview</a></p> 
<p>In the weekly chart, the ETH price action reveals a failed double top formation with a neckline at $2,844 or the 50% Fibonacci retracement level. The lower price rejections and the quick recovery tease a tectonic-level shift in sentiment.</p> 
<p>Despite the 14% drop last week, the gradual recovery could reinstate the prevailing uptrend in motion.&nbsp;</p> 
<p>Technical Indicator:</p> 
<p>RSI: The weekly RSI line drops under the halfway line during the recent pullback phase. However, the reverse divergence in the last two dips at $2,844 teases an uptrend continuation.</p> 
<p>MACD: The negative crossover in the MACD and signal lines in the weekly chart fuels the bearish histograms at play.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-ethereum-etf-listing-the-bull-run-catalyst-nbsp">Ethereum ETF Listing: The Bull Run Catalyst&nbsp;</h2> 
<p>The broader crypto market recovery teases a massive jump in the altcoins segment. Further, with the increasing likelihood of the <a href="https://markets.coinpedia.org/ethereum-etf/" target="_blank" rel="noreferrer noopener">Ethereum ETF</a> listing this month, per Bloomberg analyst James Seyffart, the ETH price is bound to boost in the coming weeks.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Also want to add. I have fairly low confidence in those launch date predictions at this point. Theres no deadline &amp; SEC's Corp Fin is taking their time here (I dont blame them). But these changes were very minimal and idk why the ETFs wouldn't be ready to go within a couple weeks</p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1808580691396825113?ref_src=twsrc%5Etfw">July 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-will-eth-price-hit-3-500">Will ETH Price Hit $3,500?</h2> 
<p>With the broader market recovery anticipations getting stronger, the Ethereum price is on the verge of a massive recovery. Further, with the increasing likelihood of the Ethereum ETF getting a listing on June 15, the upcycle could gain momentum.&nbsp;</p> 
<p>As per the Fibonacci levels, the uptrend could challenge the $3,858 mark or the 78.60% level. Optimistically, the bull run with the ETF listing could surge to $4,617.</p> 
<p>A break rally could put down Ethereum by an additional 10% drop to hit the $2,616 level.&nbsp;</p> 
<p>Read Also: <a href="https://coinpedia.org/price-analysis/are-the-top-5-cryptocurrencies-ready-for-a-bull-rally/" target="_blank" rel="noreferrer noopener">Are The Top 5 Cryptocurrencies Ready For A Bull Rally?</a></p>

Ethereum’s Recovery Post-Crash Teases A 50% Surge In Q3 2024

Table of Contents

CoinPedia News

Other articles published on Jul 9, 2024

Argentina Leads in Cryptocurrency Adoption Amid Rising Inflation

Cardano Prepares for Chang Hard Fork Amidst Market Recovery Efforts, Will ADA Surge Again?

Bitcoin ETF investors buy the dip: Daily inflows hit $295M

Crypto For Beginners: Lesser-Known Digital Currencies with 100x Potential Upside

MYX Finance Releases Half-Year Recap and Enhanced Roadmap for Trading Services and Incentive Camp...

German Govt Bags 3673 Bitcoin After Massive Dump, What’s Happening?

Join our free newsletter for daily crypto updates!