Ethereum (ETH) About To ‘Catch Up On BTC’, Is It Ready To Reclaim $3,000?

Quick Summary:

To the analyst, Ethereum completed its local accumulation within the $2,100-$2,700 range, and "it’s ready to switch the short-term trend for the bullish.” Other market watchers also suggested that the market is near the bottom after the sideway moves, based on the ETH/BTC chart.

However, once the zone is cleared, ETH’s price is "heading straight to the 3500s” since the analyst considers that the $3,000 mark "won’t stand a chance.” Similarly, crypto analyst Alex Clay suggested that the King of Altcoins is about to "catch up on BTC” and rise toward $3,500.

Market analyst CryptoWolf pointed out that Ethereum has been rejected from the local top around this level twice since August’s market crash, making it the next big resistance to break.

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Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets: United Kingdom

Topics: Ethereum Crypto analyst Ether Btc Ethereum Bullish Crypto Market Recovery ETHUSDT ETH Crypto market Uptober Bitcoin Ethereum Crypto trader

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 08:00:42 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 476 words

Reading Time: 3 minutes read

Sentences: 76 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23100555

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