$ETH has shown a nice rise in the last 2 days. In the last 24 hours, ETH reached a high of $3500 and a low of $3270. When we look at the chart now, the current market price of ETH, which started to make an attack again from 3270 levels, is 3339 dollars.
I stated that the bull season has begun in the crypto market and that from now on, if we ignore minor corrections, the target will always be upwards, and that I expect a target price of 10K for ETH at the peak.
If we make a technical analysis for ETH, my expectation is that the price of $ 3500 has corrected and will try to rise above this price. The downward correction target is maximum 2250 dollars. But my personal guess is that an upward move is more likely. I think it will be unlikely from now on to be able to buy ETH at a price below $ 2250 unless there is any development that will scare the markets.
In the last week, ETH made an attack that reduced BTC's dominance. In the last 2 days of this week, which was good for ETH, BTC took back the dominance it lost and increased it even more. When we look at today's prices, I think ETH will be more advantageous against BTC and will strengthen against BTC.
BTC has gained a huge advantage over other crypto projects in the markets, especially after the ETF approval. Being 100% decentralized, increasing investment opportunities and more reliable investment opportunities thanks to ETF approval.
One of the biggest problems in crypto markets has been the relative lack of safe investment opportunities. Especially after the collapse of the FTX exchange, trust in crypto exchanges decreased, which caused a major bear season for the markets in the world where there were already high inflation and interest policies.
In the case of ETH, after ETF approval, more reliable investment opportunities will emerge for investors. This trust that will emerge specifically for ETH and the fact that the ever-developing network will become much more efficient will cause an increase in the ETH price beyond expectations.
To be frank, the current rise of BTC and ETH in the crypto markets was faster than I expected. I was expecting ETH to reach 3500 levels, but it surprised me that it came so early. But in general, when we look at the history of crypto markets, whether it is rising or falling, it always falls faster than expectations. My personal expectation is that ETH will continue to rise and will reach its peak of over 10k next year, expected in the first quarter of 2025. This estimate is the result of my analysis. In line with my prediction, it is best for the crypto markets for the rise to take slower steps. But the crypto market likes to surprise its investors. It is also possible that the expected peak will occur in July and August.
In this article, I expressed my personal expectations for ETH. The articles above consist entirely of my personal opinions and are not investment advice.
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