{"id":597653,"date":"2024-03-13T17:00:03","date_gmt":"2024-03-13T17:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=597653"},"modified":"2024-03-13T12:58:45","modified_gmt":"2024-03-13T12:58:45","slug":"ethereum-new-5000-target","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-new-5000-target\/","title":{"rendered":"Ethereum Is Not Done: Crypto Analyst Sets New $5,000 Target"},"content":{"rendered":"

Ethereum is currently looking to gain a <\/span>strong footing above<\/span><\/a> the $4,000 price level as <\/span>bullish momentum continues<\/span><\/a> to dominate. According to crypto analyst Ali Martinez, this bullish momentum could continue and Ethereum could as well reach $5,000 very soon.<\/span><\/p>\n

Ali Martinez made this known while citing data from IntoTheBlock, noting that the second biggest cryptocurrency still has room to run to $5,000, albeit a small resistance around $4,522 to $4,646.\u00a0<\/span><\/p>\n

Ethereum Path To $5,000 Looks Increasingly Clear As Resistance Dwindles<\/h2>\n

Ethereum’s momentum has been building for weeks amidst a broader crypto market increase, which has seen many cryptocurrencies reach new highs. The price of Ethereum has increased by 53% in the past 30 days alone, leaving investors to wonder how high it can keep going and whether it can follow in Bitcoin’s footsteps and attain a new all-time high.\u00a0<\/span><\/p>\n

Related Reading: Solana Demand Soars As Institutions Buy Up SOL At A Massive 870% Premium<\/a><\/div>\n

In a social media post on X, Martinez noted a $5,000 price point is in the books “as resistance thins.” However, a key hurdle remains at $4,522-$4,646, where 600,000 addresses hold 1.63 million ETH. Despite this resistance hurdle, Martinez believes a $5,000 price point is inevitable while noting that the only question left is when this will manifest.<\/span><\/p>\n

\n

#Ethereum<\/a> path to $5,000 looks increasingly clear, as resistance thins. The key hurdle? A supply zone at $4,522-$4,646, where 600,000 addresses hold 1.63 million $ETH<\/a>. It’s not a matter of if, but when! pic.twitter.com\/LMvw3kjrEW<\/a><\/p>\n

\u2014 Ali (@ali_charts) March 11, 2024<\/a><\/p><\/blockquote>\n

The analyst made this prediction using IntoTheBlock’s “In\/Out of the Money Around Price” <\/span>metric, <\/span><\/a>which tracks the number of holders making money at the current price. Interestingly, the metric indicated that 7.64 million ETH, representing 75.95% of the volume bought between $3,428 and $4,646, are making money at the current price.\u00a0<\/span><\/p>\n

Ethereum is trading at $4,058 at the time of writing on the back of a minor correction after <\/span>reaching a two-year high<\/span><\/a> of $4,084. If bullish momentum continues and ETH can close the week above $4,175, that <\/span>could pave the way<\/span><\/a> for a quick move to $4,500 and potentially past its current all-time high of $4,891 to set a new one.<\/span><\/p>\n

Related Reading: Cardano Price About To Explode: Crypto Pundit Reveals Next Target<\/a><\/div>\n

Current price action shows Ethereum has created a support around $3,950 during its move up to $4,000. As long as this price level continues to hold, the overall bullish trend remains intact. But a break below $3,920 could signal a deeper correction to $3,800.<\/span><\/p>\n

Increased blockchain activity on layer-2 networks has pushed <\/span>gas fees to new highs.<\/span><\/a> As a result, developers are getting ready to <\/span>roll in a Dencun<\/span><\/a> upgrade, which is supposed to usher in a new era of cheaper fees. The Dencun upgrade is the first change to Ethereum’s blockchain code in over a year.\u00a0<\/span><\/p>\n

\"Ethereum<\/p>\n

ETH price trending above $4,000 | Source ETHUSD on Tradingview.com<\/a><\/pre>\n
Featured image from CNBC, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Ethereum is currently looking to gain a strong footing above the $4,000 price level as bullish momentum continues to dominate. According to crypto analyst Ali Martinez, this bullish momentum could continue and Ethereum could as well reach $5,000 very soon. Ali Martinez made this known while citing data from IntoTheBlock, noting that the second biggest cryptocurrency still has room to run to $5,000, albeit a small resistance around $4,522 to $4,646.\u00a0 Ethereum Path To $5,000 Looks Increasingly Clear As Resistance Dwindles Ethereum’s momentum has been building for weeks amidst a broader crypto market increase, which has seen many cryptocurrencies reach new highs. The price of Ethereum has increased by 53% in the past 30 days alone, leaving investors to wonder how high it can keep going and whether it can follow in Bitcoin’s footsteps and attain a new all-time high.\u00a0 Related Reading: Solana Demand Soars As Institutions Buy Up SOL At A Massive 870% Premium In a social media post on X, Martinez noted a $5,000 price point is in the books “as resistance thins.” However, a key hurdle remains at $4,522-$4,646, where 600,000 addresses hold 1.63 million ETH. Despite this resistance hurdle, Martinez believes a $5,000 price point is inevitable while noting that the only question left is when this will manifest. #Ethereum path to $5,000 looks increasingly clear, as resistance thins. The key hurdle? A supply zone at $4,522-$4,646, where 600,000 addresses hold 1.63 million $ETH. It’s not a matter of if, but when! pic.twitter.com\/LMvw3kjrEW \u2014 Ali (@ali_charts) March 11, 2024 The analyst made this prediction using IntoTheBlock’s “In\/Out of the Money Around Price” metric, which tracks the number of holders making money at the current price. Interestingly, the metric indicated that 7.64 million ETH, representing 75.95% of the volume bought between $3,428 and $4,646, are making money at the current price.\u00a0 Ethereum is trading at $4,058 at the time of writing on the back of a minor correction after reaching a two-year high of $4,084. If bullish momentum continues and ETH can close the week above $4,175, that could pave the way for a quick move to $4,500 and potentially past its current all-time high of $4,891 to set a new one. Related Reading: Cardano Price About To Explode: Crypto Pundit Reveals Next Target Current price action shows Ethereum has created a support around $3,950 during its move up to $4,000. As long as this price level continues to hold, the overall bullish trend remains intact. But a break below $3,920 could signal a deeper correction to $3,800. Increased blockchain activity on layer-2 networks has pushed gas fees to new highs. As a result, developers are getting ready to roll in a Dencun upgrade, which is supposed to usher in a new era of cheaper fees. The Dencun upgrade is the first change to Ethereum’s blockchain code in over a year.\u00a0 ETH price trending above $4,000 | Source ETHUSD on Tradingview.com Featured image from CNBC, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":597673,"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":[6664,14690,8323,16163,1946,7931,6931,8686,78803],"class_list":["post-597653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-crypto","tag-crypto-news","tag-eth","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Is Not Done: Crypto Analyst Sets New $5,000 Target<\/title>\n<meta name=\"description\" content=\"Ethereum is currently looking to gain a strong 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Is Not Done: Crypto Analyst Sets New $5,000 Target","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-new-5000-target\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-new-5000-target\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_24d362.jpeg?resize=200%2C168","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_24d362.jpeg?fit=299%2C168"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","crypto news","eth","eth price","ethereum","ethereum news","ethereum price","ethusd","ethusdt"],"dateCreated":"2024-03-13T17:00:03Z","datePublished":"2024-03-13T17:00:03Z","dateModified":"2024-03-13T17:00:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Is Not Done: Crypto Analyst Sets New $5,000 Target\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-new-5000-target\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-new-5000-target\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ethereum_24d362.jpeg?resize=200%2C168\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ethereum_24d362.jpeg?fit=299%2C168\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"crypto news\",\"eth\",\"eth price\",\"ethereum\",\"ethereum news\",\"ethereum price\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2024-03-13T17:00:03Z\",\"datePublished\":\"2024-03-13T17:00:03Z\",\"dateModified\":\"2024-03-13T17:00:03Z\"}<\/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\/03\/Ethereum_24d362.jpeg?fit=299%2C168","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/597653","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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=597653"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/597653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/597673"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=597653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=597653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=597653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}