The post Ethereum Price Prediction : Analyst Lark Davis Predicts ETH Price Will Hit $15K This Bull Run, Here’s Why appeared first on Coinpedia Fintech News

crypto analyst Lark Davis forecasted Ethereum price soaring to an astounding $15,000 this crypto cycle. 

His prediction is backed by compelling catalysts that could propel the leading smart contract platform to new heights.

Coinbase Base Chain Onboarding Surge

The first reason Davis highlights is that Coinbase’s Base Chain as a pivotal catalyst driving Ethereum’s price surge. With Coinbase’s imminent launch of Base Chain and its smart wallet, the platform is set to onboard its vast user base of 120 million customers, creating an unprecedented surge in Ethereum demand. 

As users flock to Base Chain, Ethereum stands to benefit immensely, with every transaction requiring ETH as fuel, potentially leading to substantial price appreciation.

Layer Two Narrative and Ethereum’s Dominance

Beyond the Coinbase hype, Ethereum’s position as a leader in layer two scaling solutions further strengthens its bullish case. Davis emphasizes Ethereum’s integral role in the broader layer two narrative, with projects like Arbitrum and ZK Sync gaining traction. 

As users embrace layer two solutions for scalability and cost-effectiveness, Ethereum’s dominance in the smart contract space solidifies, driving investor confidence and adoption.

Ethereum Staking and Wealth Creation

Another key catalyst highlighted by Davis is Ethereum’s staking ecosystem, which promises substantial returns and wealth creation opportunities. With the launch of the Ethereum 2.0 beacon chain and the upcoming integration of staking protocols like Igen, Ethereum holders are incentivized to lock up their ETH, further reducing circulating supply and driving up prices. 

Additionally, Ethereum’s thriving DeFi ecosystem and burgeoning NFT market contribute to the platform’s overall economic activity, reinforcing its status as a blue-chip asset in the crypto space.

Also Check Out : Crypto Expert Lark Davis Reveals 9 Altcoins Set for 9x Growth in 2024

The ETF Potential

Davis underscores the significance of an Ethereum ETF approval, despite the expected denial of BlackRock’s application in May. While initial rejections may dampen short-term sentiment, Davis remains bullish on the eventual approval of an Ethereum ETF, citing BlackRock’s track record and legal precedents. 

Once approved, an Ethereum ETF could unleash a flood of institutional capital into the market, driving prices to unprecedented levels.

In Conclusion

With a confluence of bullish catalysts on the horizon, Ethereum’s journey to $15,000 appears increasingly plausible. Davis’s forecast sheds light on the fundamental drivers behind Ethereum’s potential surge, offering investors valuable insights into the platform’s long-term growth prospects.

On Apr 17, 2024, 22:34 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,000 USDT benchmark and is now trading at 3,002.23999 USDT, with a 2.75% decrease in 24 hours.

Former Goldman Sachs executive Raoul Pal has recently disclosed being heavily invested in the native token of the Solana network, SOL.

Speaking during an interview on the Bankless podcast, Pal indicated that he allocated 80% of his crypto portfolio to SOL, while the rest is in meme coins, non-fungible tokens, and his digital assets-focused investment fund.

“I am 80% SOL. All of my ETH is now NFTs (non-fungible tokens), I have been buying high-end art NFTs. I then have a bunch of the portfolio in the fund of hedge funds in Exponential Age Asset Management,” the former Goldman Sachs executive posited. “And I have 1% in stupid s**t like dogwifhat, Dogecoin and Bonk. Got all of those. But that’s 1%… just to be clear I’ve got like in all of meme coins and everything else, 1% of my portfolio. I am 80% Solana.”

Pal’s bullishness on SOL is warranted. Solana became hot again last year after payments giant Visa announced it would utilize the blockchain’s technology to speed up credit card payments. Then, there is the meme coin craze, which has taken crypto markets by storm. Solana has seen the launch of thousands of new meme coins, which have amassed billions of dollars in trading volume in recent months, helping the fifth-largest blockchain outshine rivals like Ethereum, Avalanche, and BNB Chain in areas such as user activity, growth, and adoption.

Regarding what pushed him to invest heavily in SOL, Pal explained:

“The chart that was a standout in 2022 was the Solana/Ethereum chart. And that was the chart that got me buying Solana and then going all in. Much like I went into Ethereum all in about September 2020. I just did it earlier in Solana.”

SOL has jumped by over 1,200% since its closing price of $9.85 in 2022. Ethereum (ETH), on the other hand, gained approximately 150% from its $1,200 closing price in 2022.

Notably, Solana’s success has come at a price. The popular blockchain has been plagued with severe congestion issues in recent months. However, after weeks of failed transactions, Solana developers finally rolled out the v1.17.31 mainnet update to address the network congestion.

The price of SOL was changing hands at $136.45 at publication time, down 1.7% on the day, as Bitcoin (BTC) dropped hard and fast. The largest and oldest crypto plunged to under $60,000 today before slightly rebounding to $61,253 as of press time.

Ethereum price is still facing many hurdles near $3,200. ETH could start another major decline if the price stays below $3,200 and $3,280.

Ethereum is struggling to recover above the $3,200 resistance zone.

The price is trading below $3,200 and the 100-hourly Simple Moving Average.

There is a key bearish trend line forming with resistance at $3,120 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start another decline if there is a close below the $2,900 support zone.

Ethereum Price Consolidates

Ethereum price found support and attempted a recovery wave above the $3,000 resistance zone. ETH was able to climb above the $3,200 level. However, the bears were active near the $3,280 resistance zone.

A high was formed at $3,278 and the price reacted to the downside, like Bitcoin. It dipped below the 23.6% Fib retracement level of the upward move from the $2,536 swing low to the $3,278 high. Ethereum is now trading below $3,200 and the 100-hourly Simple Moving Average.

Immediate resistance is near the $3,100 level. There is also a key bearish trend line forming with resistance at $3,120 on the hourly chart of ETH/USD. The first major resistance is near the $3,200 level and the 100-hourly Simple Moving Average.

Source: ETHUSD on TradingView.com

The next key resistance sits at $3,280, above which the price might rise toward the $3,350 level. The key hurdle could be $3,500, above which Ether could gain bullish momentum. In the stated case, the price could rise toward the $3,620 zone. If there is a move above the $3,620 resistance, Ethereum could even climb toward the $3,750 resistance.

Another Decline In ETH?

If Ethereum fails to clear the $3,200 resistance, it could start another decline. Initial support on the downside is near the $3,000 level.

The first major support is near the $2,900 zone or the 50% Fib retracement level of the upward move from the $2,536 swing low to the $3,278 high. The next key support could be the $2,710 zone. A clear move below the $2,710 support might send the price toward $2,650. Any more losses might send the price toward the $2,550 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $2,900

Major Resistance Level – $3,200

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source: NewsBTC.com

The post Ethereum Price Stuck Near $3K, Indicators Show Risk of Downside Break appeared first on Crypto Breaking News.

Ethereum price is consolidating near the $3,000 zone. ETH could start a decent recovery wave if it clears the $3,100 and $3,200 resistance levels.

Ethereum is struggling to recover above the $3,100 resistance zone.

The price is trading below $3,120 and the 100-hourly Simple Moving Average.

There is a major bearish trend line forming with resistance at $3,035 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start another decline if it stays below the $3,100 resistance zone.

Ethereum Price Holds Ground

Ethereum price slowly moved lower after it failed to clear the $3,200 resistance zone. ETH remained in a bearish zone below $3,100 and showed bearish signs, like Bitcoin.

Recently, the bears were able to push the price below the $3,000 support zone. However, the bulls were active near the 50% Fib retracement level of the upward wave from the $2,535 swing low to the $3,279 high. Ethereum is now trading below $3,120 and the 100-hourly Simple Moving Average.

Immediate resistance is near the $3,030 level. There is also a major bearish trend line forming with resistance at $3,035 on the hourly chart of ETH/USD. The first major resistance is near the $3,100 level and the 100-hourly Simple Moving Average.

Source: ETHUSD on TradingView.com

The next key resistance sits at $3,200, above which the price might rise toward the $3,280 level. A close above the $3,280 resistance could send the price toward the $3,500 pivot level. If there is a move above the $3,500 resistance, Ethereum could even climb toward the $3,650 resistance in the coming sessions.

More Losses In ETH?

If Ethereum fails to clear the $3,100 resistance, it could start another decline. Initial support on the downside is near the $3,000 level. The first major support is near the $2,900 zone.

The next key support could be the $2,820 zone or the 61.8% Fib retracement level of the upward wave from the $2,535 swing low to the $3,279 high. A clear move below the $2,820 support might send the price toward $2,600. Any more losses might send the price toward the $2,550 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $2,900

Major Resistance Level – $3,100

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source: NewsBTC.com

The post Ethereum Price Holds Strong At $3K But Can Bulls Clear This Hurdle? appeared first on Crypto Breaking News.

According to Foresight News, Ethereum, a popular cryptocurrency, has experienced a decrease in its value, falling below the 3000 USDT mark. The latest data shows that Ethereum is now trading at 2970 USDT, representing a 1.3% drop within the day. This decline in Ethereum's value is a significant event in the cryptocurrency market, as it indicates a shift in the market dynamics. However, it is important to note that the cryptocurrency market is highly volatile and prices can fluctuate rapidly. Investors are advised to keep a close eye on the market trends and make informed decisions.

The post Ethereum To Plunge To $2,500 This Month? What’s Next For ETH And ENA? appeared first on Coinpedia Fintech News

With only 395 Blocks remaining for the next Bitcoin Halving, the cryptocurrency industry continues to display a significant correction in valuation. Top tokens continue to hover close to their important levels, indicating increasing selling pressure in the crypto space.

The Ethereum blockchain continues to bleed with the leader of altcoins, ETH price, losing over 15% in its portfolio during this time. Moreover, the blockchain’s latest token, the Ethena (ENA) price has displayed a similar trend by following in the footsteps of its leader.

Ethereum (ETH):

After displaying a correction of 12.65% and witnessing a bearish price sentiment for over a week, the ETH coin price has recorded an uptrend of approximately 3% within the past day, indicating a decline in the selling pressure within the cryptocurrency space.

TradingView: ETH/USDT

The Ethereum token has recently formed a symmetric triangle pattern and is trading within it. Moreover, the ETH coin is hovering close to its resistance level of $3,149 and its support trend line of the triangle, highlighting uncertainty in the future price action for the altcoin leader.

The EMA 50-day shows a bearish convergence in the 1D time frame. On the other hand, the technical indicator, MACD, shows a constant red histogram with its averages showing a constant decline in the chart.

If the bulls regain momentum, the price will break out of its resistance trend line and attempt to test its upper level of $3,697. Conversely, a bearish sentiment could result in the price falling to test its low of $2,800 in the coming time.

Ethena (ENA):

The Ethena token gained significant attention from the market following its launch, resulting in the ENA price recording a high of $1.523. Following this, the bulls lost momentum and recorded a correction of approximately 25% in valuation. Since then, the price has been displaying a neutral trend in the chart.

TradingView: ENA/USDT

The Moving Average Convergence Divergence (MACD) displays a rising green histogram, indicating an increase in the buying pressure within the crypto industry. Furthermore, the averages show a bullish convergence, suggesting a positive price action for the altcoin in the coming time.

If the market breaks out of its resistance level at $1.070, the bulls will regain momentum and prepare to test its upper resistance level of $1.280. However, if the bulls fail to gain momentum, the ENA price will plunge toward its low of $0.875 this month.

Ethereum’s Bullish Momentum: Taker Buy Sell Ratio Break through In the ever-volatile world of cryptocurrency, Ethereum appears to be on the brink of a significant bullish turnaround. Recent data from Crypto Quant has highlighted a compelling uptick in Ethereum’s Taker Buy Sell Ratio, a key indicator often scrutinized for insights into market sentiment.&middot

For the full story, head over to TheCurrencyAnalytics.com.

On Apr 17, 2024, 05:45 AM(UTC). According to Binance Market Data, Ethereum has dropped below 3,100 USDT and is now trading at 3,094.939941 USDT, with a narrowed 1.42% increase in 24 hours.

Shiba Inu has recently flashed a warning indicator: its 21-day EMA has dipped below the 50-day EMA. Usually, that cross is not considered a type of signal that would hint at serious problems for assets. However, it clearly shows that the momentum on the Shiba Inu market is plummeting.

For now, SHIB is moving around $0.000022, seemingly taking a breather and consolidating. What happens next is largely tied to the mood of the crypto market in general. The upcoming "halving" event has yet to show its full effect. If it turns positive and money starts flowing back into cryptocurrencies, meme coins like SHIB could see renewed interest.

SHIB/USDT Chart by TradingView

However, on its own, SHIB does not have a strong case for a bullish run. The market has not given it much love independently, and it will need a boost from the general market to start moving up again.

If SHIB were to start climbing, it would first meet resistance near the $0.0000276 level. On the flip side, if it continues to drop, the next significant support lies around $0.00001635 (200 EMA). These are key levels to watch, as they could determine SHIB's direction in the coming days.

The path forward for SHIB is not clear cut. While some hope the halving effect will kick in and push assets like SHIB upward, Shiba Inu still does not provide any fundamental value to investors and only rises based on the speculative nature of the crypto market.

Ethereum retrace

Ethereum's mixed performance raises a lot of questions, but the most important one right now: is it still in an uptrend? Recent patterns in Ethereum's price movements suggest it might be setting up for a recovery.

On the chart, Ethereum is drawing "higher lows" — each dip in price is not going as low as the last one, which could signal strength and a potential upward trend. Additionally, there is consistent trading volume, hinting at an interest in buying and selling the cryptocurrency.

card

The RSI is nearing "oversold" territory. This often means that the asset could be due for a price increase as it suggests it has been sold too much.

Technically, all these signs point toward a possible uptrend for Ethereum. However, technical analysis is not the most reliable analysis method. For a real recovery, there needs to be a fundamental reason behind it — a shift in market conditions or investor sentiment that drives buying activity.

The market is still reeling from the recent "halving" event, which, contrary to expectations, has not injected the anticipated buying power. Some investors' patience is wearing thin as hope for a quick rebound decreases.

Ethereum's immediate resistance lies around $3,500, with the recent drop finding support near $2,700. If Ethereum can push past the resistance, it might reclaim higher prices. But if the market does not find a fundamental reason to buy in, Ethereum could test the $2,708 support level once more.

Depressing state of XRP

XRP has surely seen better days. Since the beginning of the year, while other cryptocurrencies were enjoying a bull run, XRP's value has actually dropped by about 15%, making it one of the weaker players on the market.

card

Its current price is moving at major support levels, suggesting it might be undervalued. The big question is whether this is the reset XRP needed to bounce back, or if it will continue to lag behind its peers. Right now, with the price sitting near the $0.45 mark, which has historically acted as a solid floor for the asset, it feels like XRP is at a crossroads.

Of course, there is always a possibility of a reversal. If we take a look at the chart, we can spot potential turning points for XRP. If the currency can collect enough buying support and start to rise, the immediate resistance to beat would be around $0.58. On the downside, if the price breaks below the current support at $0.45, it could plummet further.

XRP's price is cheap, and cheapness often does not correlate with value. It is going to take a solid shift in sentiment or resolution of its legal issues to bring buyers back. Until then, choosing XRP as your go-to asset might end up being problematic for your portfolio.

According to PANews, recent data from Coinglass reveals that the cryptocurrency market has experienced a liquidation of contracts worth $167 million in the past 24 hours. This liquidation has affected a total of 61,518 individuals.

The data further breaks down the liquidation into two categories: long positions and short positions. Long positions, which are essentially bets that the price of a cryptocurrency will rise, accounted for $115 million of the total liquidation. On the other hand, short positions, which are bets that the price will fall, accounted for approximately $52.19 million.

In terms of specific cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) were significantly impacted. The total amount of Bitcoin liquidated was approximately $53.05 million, while Ethereum saw a liquidation of about $37.89 million.

On Apr 17, 2024, 14:18 PM(UTC). According to Binance Market Data, Ethereum has dropped below 3,000 USDT and is now trading at 2,986 USDT, with a 3.18% decrease in 24 hours.

The post Top Altcoins To Buy This Dip For 100x Profits appeared first on Coinpedia Fintech News

Cryptocurrency analyst Chump Chang took to his latest analyst and listed altcoins that have experienced significant declines from their all-time highs but present attractive buying opportunities.

Here is the list of altcoins for 10x gains in 2024:

Cardano: Cardano, currently trading at 45 cents, has witnessed an 85.4% decline from its peak in September 2021. The analyst sees potential for Cardano to achieve significant gains, citing its strong fundamentals and the leadership of Charles Hoskinson, a co-founder of Ethereum.

Polkadot: With an 88.2% drop from its all-time high, Polkadot is trading at $6.52. He views Polkadot as a promising project focused on connecting different blockchains, potentially leading to substantial growth during the upcoming bull run.

Ethereum Classic: Its price has declined 84% from its peak in May 2021 and is currently at $25.55. He highlighted its attractiveness as a mineable cryptocurrency and speculated on the impact of the Ethereum ETF on its price.

Litecoin: Litecoin, trading at $78 and down 81% from its peak, offers a reliable payment system with widespread acceptance. The analyst discussed its low transaction fees and fast transaction speeds, positioning it as a sound investment choice.

Sandbox: Sandbox, down 95% from its all-time high, is currently priced at 42 cents. As a gaming-focused cryptocurrency, he sees potential for significant gains, particularly amidst the growing interest in the metaverse and gaming industry.

Solana: With a 49.6% drop from its peak, Solana is trading at $131. He praised Solana’s ecosystem and anticipated substantial growth despite potential challenges.

Dogecoin: Dogecoin, down 79.4% from its peak, is currently priced at 15 cents. He highlighted its meme status and widespread popularity, suggesting it could see significant appreciation.

Kaspa: Kaspa, trading at 18 cents and down 41.2% from its peak, has caught his attention due to its fast transaction speeds and finite supply, making it a potential long-term investment.

On Apr 16, 2024, 21:24 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,100 USDT benchmark and is now trading at 3,100.110107 USDT, with a 0.70% increase in 24 hours.

According to Foresight News, Ethereum's second-layer network, Taiko, is set to release a Genesis NFT series named Taikoons. The total number of Taikoons to be issued is 888. Taiko has stated that the Taikoons series is the first instance of on-chain NFT community building and empowerment by the network. This move marks a significant step in the development and expansion of the Ethereum-based network.