Ethereum 'Monster Move' Coming After Bitcoin Rally Is Done, Says Trader
Portfolio Pulse from Khyathi Dalal
Prominent analysts predict a significant move for Ethereum (ETH) after Bitcoin's rally concludes. Ethereum is currently consolidating around $3,100, with potential to break above $3,500 and rally to $3,800-$4,000. Despite recent outflows, Ethereum ETFs saw $1.18 billion in inflows during their first week. Increased daily active addresses and a high percentage of profitable holders indicate strong interest, though large transaction volumes have dropped.
July 29, 2024 | 6:07 pm
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Ethereum is consolidating at $3,100 with potential to break above $3,500 and rally to $3,800-$4,000. Despite recent outflows, Ethereum ETFs saw $1.18 billion in inflows during their first week. Increased daily active addresses and a high percentage of profitable holders indicate strong interest, though large transaction volumes have dropped.
Ethereum's consolidation at $3,100 and potential to break above $3,500 suggests a bullish outlook. The significant inflows into Ethereum ETFs and increased daily active addresses indicate strong market interest. However, the drop in large transaction volumes and recent outflows may temper short-term gains.
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IMPORTANCE 90
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