Altcoins

$7,000 Ethereum In Sight? Expert Breaks Down The Potential Path

Published

4 months ago

January 11, 2025

Este artículo también está disponible en español.

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.

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.

Ethereum is currently trading at $3,270. Chart: TradingView

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.

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

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Altcoins

DePIN Altcoin Outpaces Crypto Market and Skyrockets by Nearly 44% Following High-Profile Exchange Listing

Published

18 hours ago

April 27, 2025

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An altcoin associated with a decentralized physical infrastructure network (DePIN) project surged by nearly 44% on Friday after receiving a prominent exchange listing.

On Thursday, the South Korean crypto exchange giant Bithumb announced it was listing XYO, the native token of the XYO Network.

The XYO Network aims to process any type of decentralized data.

Explains the project’s website,

“Encompassing both a network and protocol, XYO can be used for aggregating, verifying, organizing, and utilizing decentralized data from any hardware node capable of running XYO-enabled software or firmware.

XYO’s defining premise is decentralized verification, allowing network devices to verify the data flowing into the network’s databases by acting as witnesses for one another, strengthening the veracity of data received. Simple, accessible organization then allows this data to be put to use quickly and efficiently.”

Earlier this month, the project announced it would be migrating its network to a new layer-1 chain focused on DePIN. To help facilitate that move, the XYO Network is also rolling out a new layer-1 native token, XL1, and will operate with a dual-token model going forward.

The original XYO token will stay on Ethereum (ETH) and act “as an anchor to regulate the flow of XL1 into its native blockchain,” according to the project.

XYO is trading at $0.0154 at time of writing. The 278th-ranked crypto asset by market cap is also up by more than 71% in the past week.

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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.

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Altcoins

XRP, Solana, DOGE and Others Among 72 Different ETF Applications Waiting for SEC Approval: Report

Published

4 days ago

April 24, 2025

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Crypto firms are now waiting to hear back on 72 active applications for new crypto-related exchange-traded funds (ETFs).

James Seyffart, an ETF analyst at Bloomberg Intelligence, compiled the list of submissions to the U.S. Securities and Exchange Commission (SEC).

ETFs awaiting approval include funds tied to Solana (SOL), XRP (XRP), Sui (SUI), Litecoin (LTC), Axelar (AXL) Hedera (HBAR), BNB, Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Polkadot (DOT), Aptos (APT), Chainlink (LINK), Pudgy Penguins (PENGU), Official Trump (TRUMP), Melania (MELANIA) and Bonk (BONK).

Other potential new ETFs are tied to a basket of currencies, and a few are based on Bitcoin (BTC) and/or Ethereum (ETH), assets that have already been approved for inclusion in other spot ETFs.

Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, predicts that BTC ETFs will remain dominant regardless of the number of altcoin funds that are approved.

“No Second Best? Bitcoin ETFs command 90% of all the crypto fund assets globally. While a TON of alt/meme coin ETFs are likely going to hit market this year, they will only make a minor dent, Bitcoin likely to retain at least 80-85% share long-term.”

The SEC greenlit the first spot market Bitcoin ETFs in January 2024, bringing in billions of dollars worth of inflows to the top digital asset by market cap, and the regulator subsequently approved Ethereum ETFs for trading last July.

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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.

Featured Image: Shutterstock/Don White – Art Dreamer/Vladimir Sazonov

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Altcoins

Under-the-Radar Altcoin Flashing Same Setup That Preceded 3,797% Explosion for Chainlink, According to Analyst

Published

5 days ago

April 23, 2025

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A crypto trader says a mid-cap altcoin flying under the radar looks primed to repeat Chainlink’s (LINK) blistering rally during the 2020 bull cycle.

Pseudonymous analyst Inmortal tells his 231,800 followers on the social media platform X that he’s bullish on the native asset of the layer-2 scaling solution Mantle (MNT).

According to Inmortal, MNT appears to be mirroring Chainlink’s consolidation from 2019 to 2020, which preceded LINK’s ascent from a low of $1.36 to a high of $53 – a whopping 3,797% explosion.

“MNT gives me early LINK vibes.

Many people think the bull market is over, but there are coins like Mantle that haven’t even started it yet.

Conviction play for me.”

Looking at the trader’s chart, he seems to suggest that MNT could soar to as high as $6 by next year. At time of writing, MNT is worth $0.66.

Turning to Bitcoin, Inmortal says BTC’s reaction at one crucial price area will determine whether the crypto king will see new lows this cycle. The trader shares a chart suggesting that BTC may mirror its 2022 price action when it briefly soared above $45,000 before plunging to a bear market low at $16,000.

But Inmortal highlights that the bearish outlook will be invalidated if Bitcoin flips a key price level as support.

“$95,000 is where we find out if this bounce is a:

a) Last exit before new lows
b) Local bottom

BTC.”

At time of writing, Bitcoin is worth $87,355.

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