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Ethereum Poised to Outshine BitcoinEther may outshine Bitcoin in 2024, driven by its deflationary model, tech advancements, and staking yields, despite market challenges. According to research by the ETC Group, Ethereum’s native cryptocurrency, Ether, could outperform Bitcoin in 2024. This forecast by André Dragosch, Head of Research at ETC Group, hinges on significant technological strides made by Ethereum. Dragosch emphasized Ethereum’s evolution as a leading smart contract platform, suggesting it might reverse its recent trend of underperformance relative to Bitcoin. Key Factors Driving Ether’s Growth Several elements contribute to this optimistic outlook for Ether. Firstly, Ethereum’s transition to a deflationary model, initiated by the Ethereum Improvement Proposal EIP-1559 in August 2021, plays a crucial role. This mechanism effectively reduces Ether’s overall supply. Moreover, the appealing yields from ETH staking further enhance its attractiveness to investors. These dynamics collectively indicate a potential uptick in Ether’s value in the forthcoming year. However, contrasting viewpoints exist. David Schwed, COO at Holborn, suggests that Bitcoin might maintain its dominance due to its established role and perceived stability. This underscores the diverse opinions within the cryptocurrency market, highlighting the unpredictable nature of these digital assets. Historical Patterns and Future Expectations Further supporting the potential rise, Dragosch notes a historical tendency for Ether’s performance relative to Bitcoin to ‘mean revert.’ He suggests that Ether return to its average performance against Bitcoin. Despite these optimistic projections, Ethereum faces its own set of challenges. Moreover, transaction revenues on the network have significantly declined, potentially impacting Ether’s price positively. These mixed signals in the market dynamics illustrate the complex interplay of factors influencing cryptocurrency values. Consequently, as the digital currency landscape evolves, Ether’s journey in 2024 will be closely watched by investors and analysts alike. With its technological advancements and unique economic model, it presents an interesting case for potential growth in the coming year, even as it navigates the challenges inherent in the cryptocurrency market.
BINANCE:ETHUSDLong
by DEXWireNews
Will Ethereum ($ETH) Continue Its Upward Trajectory The CRYPTOCAP:ETH chart closely resembles that of $BTC. The asset is trading sideways between the support zone of $2,217-$2,236 and the resistance zone of $2,286-$2,307. For Ethereum, continuing the global upward trajectory and achieving new highs is the priority. If buyers break through the current resistance range, the next set of seller orders is likely to be encountered in the zone of $2,325-$2,342. Beyond these levels, a stronger sellers' level at $2,361 awaits, and securing above this would mark the end of the local correction. ` Should CRYPTOCAP:ETH face further corrective decline, it could reach new local lows at $2,201 and $2,164. A deeper correction is plausible if CRYPTOCAP:BTC continues its downward trend.
BINANCE:ETHUSDLong
by DEXWireNews
ETH → Blast to $2,500 then fall to $1,800? Reversal Time Near?Ethereum is far into its bull run from $1,100 to $2,300; with three pushes up and a Weekly RSI near the 70.00 level, and we're near a resistance level. Three initial conditions for a trend change. How do we trade this? 🤔 These conditions are great indicators that we're near the end of the current bull trend, but we don't yet have any confirmation that we're done. We're still in the bull channel, price is above the 30EMA and we're above the Support Zone. We need a break below the Support Zone with a strong bear bar closing on or near its low and the RSI to remain below the moving average. There is a strong possibility that ETH has enough momentum left to hit $2,500, especially if Bitcoin finishes its Measured Move to $46,000 and takes the rest of the crypto market with it. Until either scenario presents itself, we should remain on the sidelines and watch the price action unfold. 💡 Trade Ideas 💡 Short Entry: $2,080.00 🟥 Stop Loss: $2,210.00 ✅ Take Profit: $1,820.00 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bull Trend, Bias to Long. 2. Price Remains Above Daily 30EMA 3. Crucial Moment on the Chart. Remain on Sidelines. 4. RSI at 56.00 and below Moving Average, Bias to Short. 5. Reasonable to Short with Confirmation below $2,200. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
INDEX:ETHUSDShort
by TraderEngineering
Ethereum Update: Onward and Upward!Ethereum continues bottom formation, firmly entrenched within a channel spanning $1500 to $2000. The momentous breakthrough of the $2000 mark will likely accelerate its pace further. Key Levels: Watch out for the critical support level at $1688. Presently, a bullish flag pattern has emerged on the daily timeframe, following a breakout from a symmetrical triangle. The modest flagpole of this pattern offers a glimpse into the potential post-breakout trajectory. My estimation? A surge to at least the $2200-2300 zone. Risk Management: Safeguarding your trades within low-risk confines is paramount. I recommend setting a stop loss around the latest support level at $1489 to protect your capital.
Long
by ArShevelev
2
Ethereum Set to Outshine Bitcoin, Says JP MorganIn a recently released financial outlook for 2024, JP Morgan, a global leader in financial services, has presented a cautious stance on the cryptocurrency industry. Despite the approaching Bitcoin halving event, the bank anticipates Ethereum (ETH) outperforming Bitcoin (BTC) in the coming year. This forecast emerges amidst heightened anticipation and speculation within the crypto market. Ethereum’s EIP-4844 Could Eclipse Bitcoin’s Growth JP Morgan’s analysis suggests Ethereum could see more significant growth than Bitcoin in 2024. The bank points to Ethereum’s upcoming EIP-4844 update, also known as “Proto-dank sharding,” as a potential catalyst for its performance. This upgrade is expected to enhance Ethereum’s network efficiency and scalability, giving it an edge in the market. Contrastingly, Bitcoin’s much-anticipated halving event, which traditionally has been a bullish signal for the cryptocurrency, is considered by JP Morgan to be already factored into its current price. The halving, which reduces the reward for mining new Bitcoins, is expected to increase production costs and potentially lead to a 20% decline in the hash rate. According to JP Morgan, this could result in higher operating costs for miners and drive less efficient miners out of the market. Ethereum Favored Over Bitcoin in JP Morgan’s Outlook One of the central themes in JP Morgan’s report is the notion of “excessive optimism” surrounding Bitcoin. As per the bank’s analysts, this optimism has led to the asset being overbought in a market that has preemptively priced in the effects of the upcoming halving event. The bank further argues that the expectations for capital inflows into Spot Bitcoin ETF products are overstated, potentially setting up the market for disappointment. Regarding mining, the halving event is expected to double production costs based on current hash rates and Bitcoin mining difficulties. This cost increase, combined with a predicted decline in the hash rate, may force miners with excessive operating costs to exit, further impacting the Bitcoin ecosystem. While JP Morgan’s outlook favours Ethereum over Bitcoin in the upcoming year, the bank has not shied away from expressing concerns regarding Ethereum, particularly its centralized staking mechanism. This aspect of Ethereum’s network has raised questions about network security and decentralization, critical factors in any cryptocurrency’s broader acceptance and success.
BINANCE:ETHUSDLong
by DEXWireNews
Ethereum Seems to Closely Mirror Bitcoin's Movements. Ethereum (ETH) ETH surged in recent days, reaching a yearly high of $2,402 on December 9. However, the ETH price also dropped by 8%, testing the low of $2,150, in response to Bitcoin's decline. The current priority is the continuation of this local downward trend. Selling pressure is present within the broad resistance zone of $2,272-$2,315 and at the $2,350 level. If buyers can secure above these areas, ETH's local decline could be offset, leading back to an upward trajectory. Otherwise, the correction could deepen significantly, with sellers potentially retesting the $2,150 level and then aiming for $2,100. Further declines will closely mirror BTC's movements.
BINANCE:ETHUSDShort
by DEXWireNews
ETH → Mad Dash to $2,500? Or Rejected to $1,800? Let's Answer.Ethereum is at a crucial moment in its journey to break the $2,100 resistance area. We're currently in an ascending triangle, a bullish pattern, knocking on the resistance zone door. Will it break through? How do we trade this? If you are not in a trade right now, do not enter one. We should not be longing resistance nor should we be shorting without a sell signal and confirmation. Wait for a break of resistance followed by a test of resistance as support to long. To short, we need a clear sell signal bar and confirmation candle closing on or near its low. Until then, let's see where the price action goes. FOMO (Fear of Missing Out) is your worst enemy. You're making more money by not falling for the seduction of market profit. Trade Idea Long Entry : $2,250 Stop Loss: $2,127.50 Take Profit: $2,495 Risk/Reward Ratio: 1:2 Key Takeaways 1. Ascending Triangle, Bullish Signal! 2. Strong Support on Daily 30EMA. 3. At Resistance Zone, Do Not Long Here! 4. RSI above Moving Average and around 60.00. Bias to Long. 5. Use caution, watch for a reversal signal! You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
INDEX:ETHUSDLong
by TraderEngineering
2
ETHUSD $2361 targetCRYPTOCAP:ETH break down channel up, but failed to break fibonacci support bullish target from this position at $2361.92 If fibonacci failed, we have another support at $2199 classic support And $2100 major support. My opening position : Long : 2234.99 target : 2361.92 Stoploss : 2217 used equity : $16.5 target profit : $70.5 Profit percentage : 706% PnL : 7 Hedging : rebuy1 : 2199 (same target and percentage loss ratio) rebuy2 : 2100 (same target and percentage loss ratio)
Long
by AzrulAzir
1
ETH ETHEREUM Technical Analysis And Trade Idea ETHUSDLately, ETH has displayed a strong bullish trend. This video thoroughly examines and dissects this trend, closely analyzing price movements and identifying potential trade prospects by assessing various scenarios within the weekly and daily timeframes. Anticipate an in-depth exploration of price behaviors, market formations, trend assessments, and critical technical analysis components. It's crucial to emphasize that the content shared is solely for educational purposes and should not be interpreted as financial advice.
BINANCE:ETHUSD
by fxtraderanthony
Celebrating Ether's Breakthrough! Let's Ride the Bullish WaveEther (ETH) has just broken through its prior resistance levels and is now eyeing its next target of $3000! 🚀🎉 The recent surge in Ether's price has been nothing short of remarkable. With each passing day, it becomes increasingly evident that the Ethereum network and its native token, Ether, are gaining tremendous momentum and support from institutional and retail investors alike. As traders, this is an opportunity we cannot afford to miss! So, why should you consider long positions on Ether? Allow me to present you with some compelling reasons: 1. **Technical Breakthrough**: Ether's successful breach of prior resistance levels indicates a significant shift in market sentiment. With an ever-growing ecosystem of innovative projects and smart contracts, Ethereum's potential for further growth and adoption is immense. By longing Ether, you're positioning yourself at the forefront of this exciting revolution. 3. **Institutional Support**: Major institutions are increasingly recognizing the value and potential of Ether. With companies like Tesla, Square, and PayPal embracing cryptocurrencies, we can expect more institutional investors to follow suit. By entering long positions now, you'll be aligning yourself with the big players in the market. Now, it's time for action! Seize this opportunity and join me in long positions on Ether. Let's maximize this bullish trend and ride it to new heights together. Here's what you can do to get started: 1. **Evaluate Your Strategy**: Take a moment to review your trading strategy and consider incorporating long positions on Ether. Assess your risk tolerance and set appropriate stop-loss levels to protect your capital. 2. **Choose a Reliable Exchange**: Ensure you're using a reputable and secure cryptocurrency exchange that supports Ether trading. Look for platforms with robust trading features, competitive fees, and reliable customer support. 3. **Stay Informed**: Keep a close eye on market trends, news, and technical analysis to make informed trading decisions. Stay connected with reliable sources and engage with fellow traders to gain valuable insights. Remember, trading involves risks, and you must conduct your due diligence before making any investment decisions. However, with Ether's current momentum and potential, now might be the perfect time to jump on board and ride the wave of success. Let's celebrate Ether's breakthrough together and make profitable trades! If you have any questions or need further assistance, feel free to reach out via commenting below. I'm here to support you on this exciting journey.
BITSTAMP:ETHUSDLong
by bryandowningqln
ETH might rest a bitETH is breaking out a range lasted 268 days (so far) but the volume I see is not peaking despite OBV making an HH. My personaly view on ETH before this break out was that it needed to retest the first support (green zone) but right now to be honest I see two possible ways: 1) if the breakout retests the recently broken resistance zone (purple zone) and this attracts volume price will start flying to reach 2800 area but I don't think this is very likely because my general idea is that the entire market needs to cool down 2) after this liquidity swipe I think ETH will retrace a bit before breaking again. The retracement could stop close into 1900 area Weekly chart shows as there are no big resistances if ETH breaks out with adequate volume: I don't trade ETH, this is just for those who find my TA useful Good luck
by Shotokhan
ETHUSD how deep can u go?After a great bullish run last night, ETH stop at channel up resistance, now we have 3 important level here : 2193.48 as higher high, and this level became new bullish confirmation 2132.77 are resistance from previous ascending triangle pattern and became classic support 2061.94 are fibonacci 0.618 support the last important point at channel up support. in the next wave, we will have correction or pullback, but how deep ETH can go? make sure you support this analysis to get a quick notification of every update. I will update this analysis and try to buy at correction wave. Btw, Im not trade with short sell, because i'm one side trader (bullish only)
BINANCE:ETHUSD.PShort
by AzrulAzir
Analyzing ETH's Future: A Cautious Approach to Long Positions While some voices in the market are calling for ETH to reach all-time highs, it is crucial to approach these predictions with a cautious mindset. As traders, we understand the importance of thoroughly analyzing various factors before making any investment decisions. Let's take a moment to consider the current situation and its potential implications. ETH has undoubtedly been on an impressive upward trend, showcasing remarkable resilience and growth. However, as we approach new price levels, it becomes increasingly important to exercise caution. History has taught us that markets are rarely linear, and corrections are an inherent part of any asset's journey toward new heights. In light of this, I encourage you to consider adopting a cautious long-term strategy when it comes to ETH. While it is true that the overall sentiment is positive, it is equally important to remain aware of potential bearish signals that may emerge. By taking a measured approach, we can mitigate risks and make well-informed decisions. To assist you in your trading journey, I recommend keeping a close eye on key indicators such as trading volume, market sentiment, and price action. These factors can provide valuable insights into the market's sentiment and potential shifts in trends. Additionally, it is crucial to stay informed about any upcoming events or news that may impact ETH's performance. As we navigate this dynamic market, it is essential to remember that successful trading requires discipline, patience, and a constant reassessment of our strategies. By approaching ETH with caution, we can better position ourselves to capitalize on potential opportunities while managing risks effectively. In conclusion, while some predict ETH's ascent to new all-time highs, I urge you to adopt a cautious approach. Stay vigilant, analyze the market objectively, and be prepared for potential corrections along the way. By doing so, we can make informed decisions and navigate this exciting market with confidence.
BITSTAMP:ETHUSDLong
by bryandowningqln
Ethereum ETHUSD Price Analysis (1D)Ethereum has been consolidating within a distinctive Rising Wedge pattern since June 2022, forming a sequence of higher highs and higher lows. This pattern typically suggests a period of tightening volatility and impending price action. Current Status: As of now, Ethereum is trading around $2090, positioning itself at a crucial juncture within the Rising Wedge. This marks a pivotal moment as the price approaches resistance levels. Potential Breakout Scenario: Should Ethereum break convincingly above the resistance levels, currently being tested, it could trigger a significant upward movement. Targets to watch for would include key psychological levels at $2500 and $3000. This scenario would indicate a potential continuation of the prevailing bullish trend. Rebound Scenario: However, a failure to breach the resistance levels may lead to a rebound, guiding Ethereum back towards the support line of the Wedge. This retreat doesn't necessarily signal a bearish reversal but rather a continuation of the consolidation within the pattern.
by Vestinda
2