Ethereum

The second-largest cryptocurrency has rallied by double digits over the past week amid the broader market’s resurgence, surging to well above $2,700.
Most analysts are optimistic the revival could turn into a full-blown bull run, with some projecting a move to a new all-time high.
<h2 id="the-next-targets">The Next Targets</h2>
X user Wealthmanager believes ETH should reach $3,000 “relatively soon.” They <a href="https://x.com/Wealthmanager/status/2102669042570146174" rel="noopener noreferrer nofollow">claimed</a> there is little resistance between $2,750 and $3,000, adding that “the next impulse up is just a matter of time.”
Popular analyst Michael van de Poppe <a href="https://x.com/CryptoMichNL/status/2102366675425259723" rel="noopener noreferrer nofollow">argued</a> that Ethereum is entering an “interesting zone,” stressing that rising above its current levels could lead to a completely new phase.
<blockquote>
 “If this area breaks, the next area of resistance is likely $3,400, and that would mean that we’re back into a new range. I don’t think we’ll see anything sub $2,000 in the near future again,” he said.
</blockquote>
Trader Tardigrade <a href="https://x.com/TATrader_Alan/status/2102646904412893668" rel="noopener noreferrer nofollow">spotted</a> an inverse head-and-shoulders setup on ETH’s 3-day chart, assuming the asset is primed for a massive breakout, and projecting a rally to $4,100.
X user Gerla appears to be among the biggest optimists, <a href="https://x.com/CryptoGerla/status/2102362787997770167" rel="noopener noreferrer nofollow">maintaining</a> that the cryptocurrency is still “ridiculously early in this move” and forecasting a potential explosion to a new historical peak of $10,000.
<blockquote>
 “The next Ethereum run could surprise a lot of people,” he added.
</blockquote>
Meanwhile, ETH investors have been <a href="https://cryptopotato.com/ethereum-investors-are-pulling-eth-off-binance-at-a-pace-not-seen-in-3-years/" rel="noopener noreferrer nofollow">abandoning</a> Binance at a pace not seen in three years. The development reduces immediate selling pressure, reflects a longer-term holding strategy, and strengthens the bullish price scenario.
<h2 id="bull-trap">Bull Trap?</h2>
Of course, not everyone is certain that the cryptocurrency will keep pumping. Earlier this month, X user DANNY <a href="https://cryptopotato.com/ethereum-crosses-2700-bull-trap-or-the-start-of-a-major-rally/" rel="noopener noreferrer nofollow">claimed</a> ETH is setting up for “a huge trap” and envisioned potential capitulation to $1,500 and reaching a cycle bottom by the end of the year. The analyst who goes by Midas echoed a similar prediction, envisioning a retest of the $1,700-$1,800 range and then a drop to as low as $1,400.
<blockquote>
 “But I still don’t expect ETH to make the same kind of new cycle lows as BTC. ETH has been showing much stronger relative structure, and I still think it will outperform once this correction is finished. There is just one major downside target left to clear before the real expansion starts. So, short-term, I’m bearish on ETH. Long term this setup can become one of the strongest opportunities of the cycle,” they added.
</blockquote>
The post <a href="https://cryptopotato.com/ethereum-eth-soars-15-weekly-and-now-enters-an-interesting-zone-analyst/" rel="noopener noreferrer nofollow">Ethereum (ETH) Soars 15% Weekly and Now Enters an ‘Interesting Zone:’ Analyst</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Ethereum (ETH) Soars 15% Weekly and Now Enters an ‘Interesting Zone:’ Analyst

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