{"id":629552,"date":"2024-07-12T23:30:49","date_gmt":"2024-07-12T23:30:49","guid":{"rendered":"https:\/\/wncen.com\/?p=629552"},"modified":"2024-07-12T15:23:32","modified_gmt":"2024-07-12T15:23:32","slug":"is-ethereum-eth-about-to-retest-4000-analyst-foresees-3x-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/is-ethereum-eth-about-to-retest-4000-analyst-foresees-3x-rally\/","title":{"rendered":"Is Ethereum (ETH) About To Retest $4,000? Analyst Foresees 3x Rally"},"content":{"rendered":"

Amid the market slowdown, crypto analysts believe Ethereum (ETH) might be ready to retest key resistance levels again. Meanwhile, investors are expectant about the second-largest cryptocurrency performance as the final approval of spot ETH ETFs (exchange-traded funds) approaches.<\/p>\n

Related Reading: TrumpCoin (DJT) Surges 55% After News Of Trump\u2019s Participation In Bitcoin 2024 Conference<\/a><\/div>\n

Is Ethereum ETFs Approval Already Priced In?<\/h2>\n

The upcoming approval of spot Ethereum ETFs has crypto investors speculating about the launch\u2019s impact on ETH\u2019s performance. Renowned investor Daan Crypto Trades believes<\/a> the news about the S-1 form approval won\u2019t affect Ethereum\u2019s price.<\/p>\n

Per the trader, the announcement will play out like the 19b-4 approval news in May. Nearly two months ago, the rumors about the ETH ETFs decision by the Securities and Exchange Commission (SEC) fueled Ethereum\u2019s rally.<\/p>\n

The \u2018king of altcoins\u2019 surged<\/a> over 30% in anticipation, going from $3,000 to $3,900. However, the token\u2019s price did not see any further impact after the official announcement.<\/p>\n

To Daan, the SEC\u2019s approval won\u2019t be bullish or bearish as it is \u201c99%+ priced in.\u201d The analysts added that \u201cthe real test will be the actual flows once the ETFs are live.\u201d<\/p>\n

Moreover, the trader considers the market will see a lot of Grayscale Ethereum Trust (ETHE) outflows, but not \u201cas bad as we saw with GBTC.\u201d Regarding the demand<\/a> for the Ethereum ETFs, the crypto investor affirmed that 20% of spot BTC ETF inflows are expected.<\/p>\n

\n

The expectations will be that it’s anywhere from 10-30% of what BTC got in terms of inflows. I think ~20% is a pretty safe estimate. Anything higher would obviously be a nice surprise. ETH doesn’t need as many flows as BTC does to make it move after all. The market cap is 1\/3th and there’s a lot of supply locked up in staking\/defi products etc. Pretty thin market compared to BTC.<\/p>\n<\/blockquote>\n

ETH 3x Rally In The Next Year<\/h2>\n

Crypto analyst Jelle considers that ETH could soon be able to retest key resistance levels<\/a>. The second-largest cryptocurrency is \u201creclaiming the 200-day EMA, with the ETFs approaching fast.\u201d<\/p>\n

\"Ethereum\"
ETH tests the 200-day EMA. Source: Crypto Jelle on X.<\/a><\/figcaption><\/figure>\n

Per the post, If ETH successfully holds this level, the cryptocurrency could test the $4,000 mark. The analyst expects Ethereum to outperform Bitcoin in the following weeks. To him, the flagship cryptocurrency will have a \u201cboring next few weeks\u201d moving sideways.<\/p>\n

Jelle also affirmed<\/a> that investors are not \u201cready for it to melt faces,\u201d commenting on those who doubt ETH. \u201cEvery cycle, people give up on ETH, saying it\u2019s ‘dead tech’ – only to be proven wrong again,\u201d he said.<\/p>\n

Related Reading: Drake Loses Bitcoin Bet Following Canada\u2019s Copa America Exit, ARG Fan Token Soars 40%<\/a><\/div>\n

ETH’s price has increased by 5.4% in the last week, currently trading at $3,121. Despite registering a 13% decrease in the past month, some market watchers believe ETH\u2019s current price is a good inversion. \u201cAnything close to $3k or below is free 3x in the next 12 months,\u201d said<\/a> pseudonym crypto analyst Poseidon.<\/p>\n

\"Ethereum,
Ethereum\u2019s performance in the weekly chart. Source: ETHUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Amid the market slowdown, crypto analysts believe Ethereum (ETH) might be ready to retest key resistance levels again. Meanwhile, investors are expectant about the second-largest cryptocurrency performance as the final approval of spot ETH ETFs (exchange-traded funds) approaches. Related Reading: TrumpCoin (DJT) Surges 55% After News Of Trump\u2019s Participation In Bitcoin 2024 Conference Is Ethereum ETFs Approval Already Priced In? The upcoming approval of spot Ethereum ETFs has crypto investors speculating about the launch\u2019s impact on ETH\u2019s performance. Renowned investor Daan Crypto Trades believes the news about the S-1 form approval won\u2019t affect Ethereum\u2019s price. Per the trader, the announcement will play out like the 19b-4 approval news in May. Nearly two months ago, the rumors about the ETH ETFs decision by the Securities and Exchange Commission (SEC) fueled Ethereum\u2019s rally. The \u2018king of altcoins\u2019 surged over 30% in anticipation, going from $3,000 to $3,900. However, the token\u2019s price did not see any further impact after the official announcement. To Daan, the SEC\u2019s approval won\u2019t be bullish or bearish as it is \u201c99%+ priced in.\u201d The analysts added that \u201cthe real test will be the actual flows once the ETFs are live.\u201d Moreover, the trader considers the market will see a lot of Grayscale Ethereum Trust (ETHE) outflows, but not \u201cas bad as we saw with GBTC.\u201d Regarding the demand for the Ethereum ETFs, the crypto investor affirmed that 20% of spot BTC ETF inflows are expected. The expectations will be that it’s anywhere from 10-30% of what BTC got in terms of inflows. I think ~20% is a pretty safe estimate. Anything higher would obviously be a nice surprise. ETH doesn’t need as many flows as BTC does to make it move after all. The market cap is 1\/3th and there’s a lot of supply locked up in staking\/defi products etc. Pretty thin market compared to BTC. ETH 3x Rally In The Next Year Crypto analyst Jelle considers that ETH could soon be able to retest key resistance levels. The second-largest cryptocurrency is \u201creclaiming the 200-day EMA, with the ETFs approaching fast.\u201d Per the post, If ETH successfully holds this level, the cryptocurrency could test the $4,000 mark. The analyst expects Ethereum to outperform Bitcoin in the following weeks. To him, the flagship cryptocurrency will have a \u201cboring next few weeks\u201d moving sideways. Jelle also affirmed that investors are not \u201cready for it to melt faces,\u201d commenting on those who doubt ETH. \u201cEvery cycle, people give up on ETH, saying it\u2019s ‘dead tech’ – only to be proven wrong again,\u201d he said. Related Reading: Drake Loses Bitcoin Bet Following Canada\u2019s Copa America Exit, ARG Fan Token Soars 40% ETH’s price has increased by 5.4% in the last week, currently trading at $3,121. Despite registering a 13% decrease in the past month, some market watchers believe ETH\u2019s current price is a good inversion. \u201cAnything close to $3k or below is free 3x in the next 12 months,\u201d said pseudonym crypto analyst Poseidon. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":601047,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,1119,89447,10923,92748,8323,92662,79512,1946,6931,78803,91198],"class_list":["post-629552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-btc","tag-crypto-analysts","tag-crypto-market","tag-cryto-trader","tag-eth","tag-eth-etf-approval","tag-ethe","tag-ethereum","tag-ethereum-price","tag-ethusdt","tag-spot-ethereum-etfs"],"acf":[],"yoast_head":"\nIs Ethereum About To Retest $4,000? 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.\",\"url\":\"https:\/\/wncen.com\/author\/rubmargarcia\/\"}]}<\/script>\n","yoast_head_json":{"title":"Is Ethereum About To Retest $4,000? 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.","url":"https:\/\/wncen.com\/author\/rubmargarcia\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is Ethereum (ETH) About To Retest $4,000? 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