Ethereum market is filled with Fomo

  • USD 4,800 paint as strong resistance for ETH.

  • “Ethereum will enter vertical acceleration,” say various bulls.

The price of Ether (ETH), the cryptocurrency of the Ethereum Network, returned this week to levels of 2021, approaching 4,900 dollars (USD), its historical maximum. This movement has unleashed multiple bullish projections that reflect a feeling of Fomo (fear of staying outside) in the market.

Various enthusiasts have stated that Ether could experience a strong climb if Bitcoin has had the behavior (BTC), active to which it has maintained weakness in this cycle.

The investor Ted Pillows pointed out That the price of Bitcoin, as an asset of more than 2 billion dollars in capitalization, has increased almost double since its maximum of 2021. “Now everything that promoted BTC up is happening with Ethereum,” he said.

According to his vision, the narrative that Ether could reach USD 10,000 in this cycle “is not FUD” (English acronym to call fear, uncertainty and doubt), but a concrete possibility.

“ETH remains the best macro operation that exists: institutional entry, high network activity and a level below the maximums of 2021. ETH A USD 10,000 is scheduled for this cycle,” affirmed From its upward posture.

For its part, Lennaert Snyder cryptocurrency analyst foresee a strong resistance the USD 4,800according to the map of potential liquidations of accumulated leverage operations.

Map of potential liquidations for accumulation of leverage operations. Source: Merlijn.

In tune, the trader known as Merlijn described The USD 4,800, according to the map of potential settlements, such as the “final boss” for Ethereum. “The last fortress before the open skies. Rompanlo and Ethereum will enter vertical acceleration,” he said.

However, he stressed that Go on the way to the end of the current Cryptocurrency Cycle Cycle. “The final wave of the Bitcoin game is forming”, said From his opinion, calling investors to care.

«Bitcoin does not forgive those who are late. Reward the early and punishes the greedy. The rocket is on the launch platform … but each launch ends in free fall, ”he said.

On the other hand, the trader cas abbé distinguished that This is until now the best third quarter in the history of the ethhereum cryptocurrency performance.

“Until now, ETH has increased by 80% in the third quarter and there are still 1.5 months. With the institutions buying ETH in large quantities, it could become the best quarter in history for ETH,” exclaimed.

ETH performance per quarter in recent years. Source: Coinglass.

Capitalization helps predict the price of ETH, says Melker

Scott Melker, market analyst, recalled That Ethereum’s domain compared to the total cryptocurrency market remained stable for more than three years in a range between 15% and 18%. It moved significantly above or below that range only during extreme fear or greed periods.

For Melker, This range is a reasonable objective for ETH to returnwhich can even exceed a bullish market with volatile rotations. This serves as a point of analysis to predict the price of cryptocurrency.

He deepened that, with a total capitalization for cryptocurrencies of USD 4.11 billion, The ETH price could rise to USD 5,100 If it dominates 15% or USD 6,130 if it is 18%. In a more optimistic scenario, USD 10 billion for the total market, the range would be expanded between USD 12,295 and USD 14,754.

“The point in which you believe that the total cryptocurrency market will reach its maximum in this cycle will greatly influence your vision of the ETH potential. The objective is not to offer a perfect prediction of the price or predict the exact maximum. It is about providing you with a conceptual framework: a way of analyzing Eth (and BTC) in the context of the market domain and its total size,” he concluded.

Currently, the total capitalization of cryptocurrencies is around USD 3.99 billion, with Bitcoin dominating 58.5% and Ether 13.6%. And, although bullish projections predominate, several analysts agree that the upward market could be entering its final stage.

Therefore, it is crucial to keep in mind that, Beyond generalized enthusiasm, Risks They are still present: prices depend on supply and demand, and there is no guarantee that the upward trend continues.

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