Altcoins
$7,000 Ethereum In Sight? Expert Breaks Down The Potential Path
There is a reason for Ethereum fans to be optimistic, as expert analysis suggests that the cryptocurrency is going to touch the skies in the coming months. As Bitcoin has just crossed $94,000, Ethereum also shows signs of life and bounces back from its recent low and hints at the possibility of price explosion.
Related Reading
A Quick Look At The Patterns
Well-known crypto analyst Ali Martinez has found a bullish reversal pattern that can potentially take the price of Ethereum into much higher value. Trading at $3,281 at the moment, Ethereum has slipped below the middle line of its rising channel and has traders spooked.
But Martinez is one who thinks if Ethereum could just retest the lower boundary at $2,800 and rebound, it will likely launch into a bullish trend. This rebound may eventually set the stage for Ethereum to reach between $6,000 and $7,000.
If #Ethereum $ETH is following an ascending parallel channel, a dip to the lower boundary at $2,800 could act as a launchpad for a move toward $6,000. pic.twitter.com/uYP6BW3DZh
— Ali (@ali_charts) January 10, 2025
Market Sentiment & Challenges
Even though these are all good signs, the mood in the futures market right now is not clear. Open interest in Ethereum has gone down by 1.25%, which shows that some buyers are becoming more cautious.
The long-to-short number is still less than 1, which means that traders are betting against Ethereum instead of for it. Also, funding rates have gone down a lot, which shows that people are less interested in taking leveraged long bets.
Although short-term sentiment may be negative, long-term holders may see attractive entry points at current prices. Due to their inherent volatility, cryptocurrencies require constant vigilance and awareness of market trends.
Key Resistance Levels
All eyes will be on Ethereum’s performance and whether it can overcome important resistance thresholds as we advance into 2025. Several elements determine whether one may achieve $6,000 or even $7,000: market conditions, investor mood, and more general economic impact.
At the time of writing, Ether was trading at $3,274, down 0.9% and 9.9% in the daily and weekly timeframes, data from Coingecko shows.
Related Reading
Ether Price Forecast
Ether (ETH) is likely to start an ascent in the next seven days; its present price sits 56% below the projected value for next month. This recovery can draw more trading activity and fits the optimistic trends in the market.
Ether is expected to rise by a solid 93% in six months and 94% in three months, according to predictions by CoinCheckup. Though market volatility still has great importance to take into account, a one-year forecast reveals an impressive 180% increase, demonstrating great development potential.
Featured image from Getty Images, chart from TradingView
Source link
Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
XRP has struggled to gain momentum, with its price caught in a downtrend since the beginning of March. Although XRP has managed to push up in the past five days after reaching a low of $1.93 on March 11, it has yet to fully recoup its losses in the first week of the month.
Related Reading
The altcoin’s long-term prospects are still on bullish speculation, but its short-term price action has frustrated traders looking for signs of a breakout. Amid this stagnation, crypto analyst Egrag Crypto has outlined specific price levels that could determine whether XRP finally reverses its course.
Analyst Identifies $2.65 As Key Level Before XRP Can Challenge $3.00
Egrag Crypto, a long-time bullish advocate for XRP, recently took to social media platform X to outline key price levels that could determine the cryptocurrency’s next significant move. He identified $2.65 as the first critical threshold the coin must reclaim to sustain meaningful bullish momentum. However, the analyst expressed concern over XRP’s repeated tests of lower boundaries, which is in reference to the recent bottom at $1.93.
According to the analyst, the frequent retests of this support level are a double-edged sword. While multiple touches on resistance can eventually trigger a breakout, repeated tests of support weaken its integrity, increasing the likelihood of a breakdown. He likened this pattern to knocking on a door that would eventually open or break. He highlighted six instances of XRP retesting this zone since December 2024 on a 12-hour candlestick chart, warning that prolonged weakness could pave the way for further downside.
For the crypto to escape this cycle and shift into bullish territory, Egrag emphasized the importance of a strong close above $3.00, not just a brief move past it. This level has served as the upper resistance trendline for the past two weeks and has been a barrier to any sustained uptrend. Failure to break and hold above $3.00 could cause continued correction in the short term and keep XRP trapped in its current range.
However, the analyst believes XRP’s chances of reaching $3.00, considering the current price action, are slim without securing a close above $2.65.
Image From X: EGRAG CRYPTO
What’s Next For XRP After $3?
March has been particularly bearish for XRP, with sellers maintaining control as it failed to reclaim lost ground. However, if XRP bulls manage to close above $3 before the end of the month, it will open up the door for the resumption of a price rally. With this in mind, Egrag set an initial target of $4.80, placing XRP at new all-time highs.
Related Reading
Interestingly, this target is modest compared to the analyst’s more ambitious long-term projections. Egrag has previously predicted that XRP could surge to $110 in the long term. At the time of writing, XRP is trading at $2.37 and is still 26.5% away from reaching $3.
Featured image from Crypto Logos, chart from TradingView
Source link
Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
After dropping to less than $2 last March 11th, Ripple’s XRP springs back to life and it’s currently trading between $2.30 and $2.40. And with the US Securities and Exchange Commission vs Ripple case nearing its resolution, the market can expect more price volatility for this digital asset.
Related Reading
Within this context, market analyst Ali Martinez boldly claims that Ripple’s native coin still have the legs to hit a two-digit figure this cycle, using an extensive symmetrical triangle formation as a solid basis.
Martinez’s view runs opposite the bearish statements from other commentators. XRP has been on a slide lately, affected by the broader crypto fall, dipping by around 25% from its $3.40 high achieved mid-January.
XRP Gradually Builds Its Symmetrical Triangle
Like most cryptos, XRP continues to have a highly volatile market performance. The token attempted a recovery early this month but met resistance, leading to a steep decline on March 11th. Interestingly, a few commentators remain bullish on the altcoin, including Martinez, who sees the token on track to reach $15.
This is why $XRP can still reach $15! pic.twitter.com/vkIiR0rnpU
— Ali (@ali_charts) March 14, 2025
In his latest commentary, shared via a Twitter/X posting, Martinez highlighted the seven-year symmetrical triangle formed by this asset, which dates back to January 2018, when it dropped from its $3.80 high.
Even before Martinez shared this observation, several commentators reported the triangle’s formation, suggesting that a breakout could lead to a price run.
The Ascending Trendline
According to Martinez, XRP formed its lower highs in January 2018, extending the descending trendline on top. As the crypto witnessed higher lows during this time frame, it extended its ascending trendline below, creating a symmetrical triangle.
Interestingly, XRP exited the symmetrical triangle structure following the November US elections. Ripple’s native token surged by 280% for the month, marking the biggest 30-day increase for the asset in seven years.
Along with surprising traders, this breakout inspired fresh hope among XRP enthusiasts. While some experts noted that past breakouts do not automatically ensure continuous rallies, many saw this spike as evidence of possible long-term strength.
Still, the dramatic price fluctuation sparked conversations on XRP’s future, particularly in light of further government changes and more general market movements.
Ripple’s XRP is currently trading at $2.37, which is 2% up in the last seven days.
Related Reading
XRP Currently Retesting A Breakout
After two months of upside, Ripple’s XRP is on a downturn, reflecting the broader crypto market sentiment. According to Martinez, XRP’s price is currently retesting the triangle chart breakout. He also suggested that even if XRP slips below $2, it’s still on track for a breakout, as long as it stays above $1. Armed with the charts, Martinez believes that XRP hitting $15 is not a far-out idea.
Featured image from StormGain, chart from TradingView
Source link
Altcoins
Layer-1 Project MultiversX Continues To Top the Crypto Gaming Sector in Terms of Development Activity: Santiment
The layer-1 blockchain MultiversX (EGLD) continues to lead the digital asset gaming sector in the realm of development activity, according to the crypto analytics firm Santiment.
Santiment notes on the social media platform X that MultiversX, formerly known as Elrond, registered 212.17 notable GitHub events in the past 30 days.
The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) ranks second, clocking 168.93 events, and the Ethereum layer-2 protocol Skale Network (SKL) is a distant third with 41.07.
MultiversX and Decentraland have occupied the number one and two spots in previous months as well, according to Santiment.
Santiment notes that it doesn’t count routine updates and uses a “better methodology” to collect data for GitHub events based on a “backtested process.”
The analytics firm has previously said that heavy development activity centered around a crypto project is a positive indication that could mean that the developers believe the protocol will be successful. It also indicates that the project is less likely to be an exit scam.
MultiversX is a distributed, proof-of-stake blockchain network that is decentralized via more than 3,500 nodes. The project aims to help developers build next-gen applications.
The project’s native token, EGLD, is trading at $18.10 at time of writing. The 139th-ranked crypto asset by market cap is up more than 3% in the past 24 hours.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
Analyst Says Crypto Whales Loading Up on Ethereum, Accumulating $815,514,345 in ETH in Just Five Days
Bitcoin landfill man loses appeal, says he has one ‘last legal option’
Filmmakers Bet on Web3 to Fix Hollywood Film Financing
Mr. Wonderful says the crypto cowboy era is over. Really?
TON Token Surges 20% as Telegram Founder Recovers Passport From French Authorities
Can Bitcoin Reach $100K After the Upcoming US Fed Decision?
XRP Must Close Above This Level For Bullish Breakout: Analyst
Bitcoin reclaims $80K zone as BNB, TON, GT, ATOM hint at altcoin season
Stock Market To Witness Rallies in Next One to Two Weeks, Predicts Wall Street’s Cantor Fitzgerald – Here’s Why
Cryptocurrencies to watch this week: Binance Coin, Cronos, ZetaChain
What is Milady? The Edgy Ethereum NFT Community With Vitalik Buterin’s Support
Can Pi Network Price Triple if Binance Listing is Approved Before March 2025 Ends?
Gold ETFs Inflow Takes Over BTC ETFs Amid Historic Rally
Toncoin in ‘great entry zone’ as Pavel Durov’s France exit fuels TON price rally
XRP $15 Breakout? Not A Far-Fetched Idea—Analysis
24/7 Cryptocurrency News4 months agoArthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025
Bitcoin2 months agoExpert Sees Bitcoin Dipping To $50K While Bullish Signs Persist
24/7 Cryptocurrency News2 months agoAptos Leverages Chainlink To Enhance Scalability and Data Access
Bitcoin4 months agoBitcoin Could Rally to $80,000 on the Eve of US Elections
Altcoins2 months agoSonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
Bitcoin4 months agoInstitutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
Opinion4 months agoCrypto’s Big Trump Gamble Is Risky
Price analysis4 months agoRipple-SEC Case Ends, But These 3 Rivals Could Jump 500x
