{"id":651209,"date":"2024-11-02T12:00:20","date_gmt":"2024-11-02T12:00:20","guid":{"rendered":"https:\/\/wncen.com\/?p=651209"},"modified":"2024-11-02T08:12:17","modified_gmt":"2024-11-02T08:12:17","slug":"ethereum-must-stay-above-2480-for-this-bullish-signal-to-hold-true-analyst","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-must-stay-above-2480-for-this-bullish-signal-to-hold-true-analyst\/","title":{"rendered":"Ethereum Must Stay Above $2,480 For This Bullish Signal To Hold True – Analyst"},"content":{"rendered":"

Ethereum (ETH) exhibited a dual-phased market movement in the last week rising by over 9%<\/a> to reach a local peak of $2,711 on October 30, before declining by an almost similar measure. As the prominent altcoin now hovers around the $2,500 price mark, crypto analyst Ali Martinez has highlighted an important market condition that could ignite a price rebound.
\n<\/span><\/p>\n

Related Reading: Ethereum Blobs Are \u2018Insanely Bullish\u201d For ETH Price: Breakthrough Research<\/a><\/div>\n

Ethereum Buy Signal Subject To Vital Price Support<\/strong><\/h2>\n

In an X post on November 1,<\/a> Martinez stated that TD Sequential has indicated a buy signal on the ETH 4-hour chart. For context, the TD Sequential commonly used trading indicator to signal potential turning points in price trends and provide signals for trend exhaustion or potential price reversals.\u00a0<\/span><\/p>\n

Following Ethereum\u2019s decline over the past 48 hours<\/a>, TD Sequential has flashed a buy signal, indicating a possible price recovery on the horizon. However, Martinez states that for this bullish signal to prove true, Ethereum must remain above the $2,480 support zone.<\/span><\/p>\n

A potential price drop below this support level would result in a further decline to $2,200, indicating a potential 12% decrease from the token\u2019s current price. However, Ethereum is expected to rebound to around $2,700 if the specified support zone holds.<\/p>\n

 <\/p>\n

\"Ethereum\"
Source: ali_charts on X<\/figcaption><\/figure>\n

Interestingly, fellow market analyst Micha\u00ebl van de Poppe has provided some valuable insights into Ethereum\u2019s price if this successful price recovery occurs.<\/span><\/p>\n

In a post on X<\/a>, van de Poppe applauds the resilience of Ethereum despite the rise in US permanent job losses as revealed by the recent unemployment data by the Bureau of Labor Statistics. He also notes ETH has been a range-bound market oscillating between $2,200-$2,700 since August. However, van de Poppe states that if Ethereum returns above $2,700 in the next two weeks, the altcoin may surge to around $3,200 in the next few weeks, finally breaking out of consolidation.<\/span><\/p>\n

In addition, the crypto analyst continues to reiterate<\/a> his projections of Ethereum to outperform Bitcoin in the coming months as the latter approaches its peak dominance level. Ethereum is expected to lead the “altcoin season” with predictions<\/a> of hitting a five-digit value next few months.<\/p>\n

Related Reading: Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don\u2019t Aim Lower Than $4,900 ATH<\/a><\/div>\n

ETH Price Overview
\n<\/strong><\/h2>\n

At the time of writing, Ethereum continues to trade at $2,514 following a minor decline in the past day based on data from CoinMarketCap.<\/a> Meanwhile, the altcoin reports gains of 2.09% and 6.06% in the last seven and thirty days, respectively. ETH’s daily trading volume is also up by 4.70% approaching a value of $20.85 billion.<\/span><\/p>\n

\"Ethereum\"
ETH trading at $2,511 on the 4-hour chart | Source: ETHUSDT chart on Tradingview.com<\/figcaption><\/figure>\n
\n
Featured image from MarketWatch, chart from Tradingview.com<\/em><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) exhibited a dual-phased market movement in the last week rising by over 9% to reach a local peak of $2,711 on October 30, before declining by an almost similar measure. As the prominent altcoin now hovers around the $2,500 price mark, crypto analyst Ali Martinez has highlighted an important market condition that could ignite a price rebound. Related Reading: Ethereum Blobs Are \u2018Insanely Bullish\u201d For ETH Price: Breakthrough Research Ethereum Buy Signal Subject To Vital Price Support In an X post on November 1, Martinez stated that TD Sequential has indicated a buy signal on the ETH 4-hour chart. For context, the TD Sequential commonly used trading indicator to signal potential turning points in price trends and provide signals for trend exhaustion or potential price reversals.\u00a0 Following Ethereum\u2019s decline over the past 48 hours, TD Sequential has flashed a buy signal, indicating a possible price recovery on the horizon. However, Martinez states that for this bullish signal to prove true, Ethereum must remain above the $2,480 support zone. A potential price drop below this support level would result in a further decline to $2,200, indicating a potential 12% decrease from the token\u2019s current price. However, Ethereum is expected to rebound to around $2,700 if the specified support zone holds.   Interestingly, fellow market analyst Micha\u00ebl van de Poppe has provided some valuable insights into Ethereum\u2019s price if this successful price recovery occurs. In a post on X, van de Poppe applauds the resilience of Ethereum despite the rise in US permanent job losses as revealed by the recent unemployment data by the Bureau of Labor Statistics. He also notes ETH has been a range-bound market oscillating between $2,200-$2,700 since August. However, van de Poppe states that if Ethereum returns above $2,700 in the next two weeks, the altcoin may surge to around $3,200 in the next few weeks, finally breaking out of consolidation. In addition, the crypto analyst continues to reiterate his projections of Ethereum to outperform Bitcoin in the coming months as the latter approaches its peak dominance level. Ethereum is expected to lead the “altcoin season” with predictions of hitting a five-digit value next few months. Related Reading: Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don\u2019t Aim Lower Than $4,900 ATH ETH Price Overview At the time of writing, Ethereum continues to trade at $2,514 following a minor decline in the past day based on data from CoinMarketCap. Meanwhile, the altcoin reports gains of 2.09% and 6.06% in the last seven and thirty days, respectively. ETH’s daily trading volume is also up by 4.70% approaching a value of $20.85 billion. Featured image from MarketWatch, chart from Tradingview.com<\/p>\n","protected":false},"author":581,"featured_media":651214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[87818,1946,85754,93196,8686,78803,85912],"class_list":["post-651209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ali-martinez","tag-ethereum","tag-ethereum-bullish-signal","tag-ethereum-support-level","tag-ethusd","tag-ethusdt","tag-michael-van-de-poppe"],"acf":[],"yoast_head":"\nEthereum Must Stay Above $2,480 For This Bullish Signal To Hold True - Analyst<\/title>\n<meta name=\"description\" content=\"As Ethereum hovers around the $2,500, Ali Martinez has highlighted an important market condition that could ignite a price rebound.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-must-stay-above-2480-for-this-bullish-signal-to-hold-true-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Must Stay Above $2,480 For This Bullish Signal To Hold True - 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.","sameAs":["https:\/\/www.linkedin.com\/in\/semilore-faleti-7a9046218","https:\/\/x.com\/https:\/\/twitter.com\/SemiloreFaleti"],"url":"https:\/\/wncen.com\/author\/semilorefaleti\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Must Stay Above $2,480 For This Bullish Signal To Hold True – Analyst","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-must-stay-above-2480-for-this-bullish-signal-to-hold-true-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-must-stay-above-2480-for-this-bullish-signal-to-hold-true-analyst\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/im-336319.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/im-336319.jpeg?fit=1260%2C841"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Semilore Faleti"}],"creator":["Semilore Faleti"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ali martinez","ethereum","ethereum bullish signal","ethereum support level","ethusd","ethusdt","michael van de poppe"],"dateCreated":"2024-11-02T12:00:20Z","datePublished":"2024-11-02T12:00:20Z","dateModified":"2024-11-02T12:00:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Must Stay Above $2,480 For This Bullish Signal To Hold True – Analyst\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-must-stay-above-2480-for-this-bullish-signal-to-hold-true-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-must-stay-above-2480-for-this-bullish-signal-to-hold-true-analyst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/im-336319.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/im-336319.jpeg?fit=1260%2C841\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Semilore Faleti\"}],\"creator\":[\"Semilore Faleti\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ali martinez\",\"ethereum\",\"ethereum bullish signal\",\"ethereum support level\",\"ethusd\",\"ethusdt\",\"michael van de poppe\"],\"dateCreated\":\"2024-11-02T12:00:20Z\",\"datePublished\":\"2024-11-02T12:00:20Z\",\"dateModified\":\"2024-11-02T12:00:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/im-336319.jpeg?fit=1260%2C841","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/651209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/581"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=651209"}],"version-history":[{"count":3,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/651209\/revisions"}],"predecessor-version":[{"id":651253,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/651209\/revisions\/651253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/651214"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=651209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=651209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=651209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}