ETHEREUM Price Analysis
SETH is still struggling to break and hold above the $4,000 level, but itโs only a matter of time before this level is reclaimed. Notably, there hasnโt been significant profit-taking on SETH since November 2021, which suggests thereโs still plenty of momentum left in the tank.
Using fractal analysis, Iโve identified two key fractals to watch:
โข The first, which defined SETHโs last ATH and the May 2024 local top, points to possible rejection levels at $4,400, $4,900, and then $6,200.
โข The second, which defined the July 2024 local top at $3,500 and subsequent $2,100 low, shows rejection zones around $4,350, $4,700โ$4,800, and $6,000โclosely aligning with the first fractalโs levels.
The $4,300โ$4,400 zone is just the 127% extension level, meaning SETH isnโt likely to linger here for long. For context, Bitcoinโs 127% level was at $104K before moving higher. Once this zone is cleared, weโre likely to see a quick run toward $4,700โ$4,800, potentially hitting those levels by year-end. This could trigger an altcoin rally, with ETH beta coins leading the charge.
These assumptions align with recent $ETH ETF inflow data, which has picked up significantlyโexactly the catalyst needed to push higher. However, I donโt expect $SOL to outperform the market, as $ETH will dominate the spotlight, especially with $SOL token unlocks looming in 2025.
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