Discussions about The next big rise in Ethereum prices It has emerged noticeably within the cryptocurrency community following its recent bullish strength in the past few days. As the bullish momentum gains momentum, there is speculation that ETH could rise soon. However, the latest development suggests otherwise.
Ethereum’s expected big rally may require more patience
It is widely believed that Ethereum’s next big rally is just around the corner as evidenced by numerous bullish forecasts. However, Ali Martinez, market expert and investor, said: He predicts The long-awaited, noticeable move may take longer than the general market expects.
The expert points to a key market sentiment trend that suggests ETH may need more time to build the momentum needed for the next price breakout. This forecast may also indicate that the altcoin may see a period of consolidation before any significant upward movement.
In the past two bull cycles when long-term stockholders have drifted into greed, Ali Martinez highlights that Ethereum He climbed very high. Meanwhile, the gauge shows that the mood of long-term bondholders is still in the early stages of faith.
Comparing the development in the ongoing cycle with past cycles, the expert is confident that the next big step for the altcoin may still be in the future. Martinez’s forecast is a cautionary outlook for traders and investors as ETH navigates the current volatile phase.
As optimism about ETH begins, cryptocurrency analyst Venturefounder does just that He pointed out Digital assets track to a new all-time high. His predictions are part of a broader sentiment that ETH may be preparing for Noticeable move up.
After navigating Ethereum’s price action on a 3-week chart, Venturefounder believes the altcoin will rise to $4,900. Moreover, the expert attributes his forecasts only to A Go Of the impending chart formation, especially the cup and handle pattern.
The chart shows that ETH has finally reached a weekly close at $3,800 as support. Although it took weeks to reach this level, the Venturefounder claims that the move was solid.
With ETH closing the week at $3,800 and forming a cup and handle pattern, the $4,900 level could be the next price target. Following this milestone, Venturefounder expects further higher levels, such as $5,349, $6,457, and $7,238, by the end of Q1 2025.
Has ETH’s outlook become bearish?
During the past week, Ethereum It showed strong price performance, rising to $4,089 on Monday. However, its bullish momentum appears to be slowing down, leading to a decline towards the $3,800 level.
This sudden decline has sparked a potentially negative outlook for ETH in the short term as investors gradually become pessimistic. After prices fell by approximately 4% in the past day, market capitalization and trading volume also fell by 3% and 13% in the same time frame.
Featured image from Unsplash, chart from Tradingview.com