Reason to trust
Strict editorial policy which focuses on precision, relevance and impartiality
Created by industry experts and meticulously revised
The highest standards in the declaration and publishing
Strict editorial policy which focuses on precision, relevance and impartiality
Morbi Pretium Leo and Nisl Aliquam Mollis. Quisque Arcu Lorem, quis pellentesque nec, ultlamcorper eu odio.
Este Artículo También is respondable in Español.
The Ethereum Prize has crossed the $ 2,400 bar for the first time since March of this year, marking a significant recovery for the second largest cryptocurrency by market capitalization.
This wave represents a remarkable increase of 50% in the last month, exceeding in particular the 19% increase of 19% of Bitcoin (BTC) during the same period. As a result, market experts are considering Ethereum more and more as the first cryptocurrency to invest.
The Ethereum price potential is soaring
In particular, Virtualbacon, a figure in the Crypto analysis community, recently said: “Ethereum is the best crypto to buy at the moment”. He stressed that, although the price of Ethereum may not have increased as radically as certain other cryptocurrencies, its fundamental forces remain intact.
In a recent Social media message On X (formerly Twitter), Virtualbacon highlighted its updated calendar and its objectives for the Ethereum price, noting that cryptocurrency is negotiated nearly $ 2,500, a significant recovery of its stockings in 2022 reached during the sale of the market in April.
Related reading
According to the analyst, a key indicator of Ethereum’s potential is the ETH / BTC trading pair, which has recently rebounded for several years Support levels. Historically, such rebounds have often pointed out the start of Altcoin cycles, aligning changes in global liquidity.
Virtualbacon claims that if the Ethereum price can recover the level of fibonacci retracement of 0.382 against Bitcoin, it could see a substantial gain of around 60%. A new retreat at 0.5 would push its value beyond 0.05 BTC, improving the bullish feeling surrounding Ethereum.
Currently, the Ethereum price is consolidated around these critical levels, which are considered a beach of strong accumulation before macroeconomic conditions change.
Virtualbacon Projects $ 10K for ETH
The analyst also argued that although Solana (soil) is faster in terms of transaction speeds, Ethereum remains the backbone for the most part Real world applications (Rwas) and Stablecoins. It is also the only Altcoin recognized as a commodity in legal terms, gaining the confidence of institutional investors.
Related reading
For the future, Ethereum’s future performance is closely linked to monetary policy decisions of the Federal Reserve (Fed). With a quantitative tightening (QT) slowing down to $ 5 billion per month – the lowest rate in recent history – the analyst highly provides for a potential QT break by the third or fourth quarter of this year.
Virtualbacon plans that this break could trigger a cotton ETH / BTC Pair, opening the way to a significant increase movement for the Ethereum price.
Virtualbacon maintains a Haussier prospect for Ethereum, which suggests that if Bitcoin reaches $ 200,000, ETH could reach a price target of $ 10,000. If Bitcoin climbs even more to $ 250,000, the Ethereum price could rise to $ 12,000.
During writing, ETH is negotiated at $ 2,440, up 8% in the last seven days.
Dall-e star image, tradingView.com graphic
(Tagstotranslate) Bitcoin (T) BTC (T) Crypto (T) Crypto News (T) ETH (T) Ethereum (T) Ethereum Prix (T) Ethereum Action Prix (T) Ethereum Price Analysis (T) Ethereum Prix (T) Ethereum
Source link
