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The price of Ethereum exceeded $ 2,400 for the first time since March this year, which indicated a significant recovery for the second largest curve of currency by market capitalization.
This rush represents a significant increase of 50% in the last month, especially outweighing Bitcoin (BTC) in the same period. As a result, market experts are increasingly viewing the Ethereum as a top -notch crypto currency for investment.
The potential of the price of the Ethereum is increasing
Significantly, Virtualbacon, a character in the Kripto Analysis Community, recently claimed: “Ethereum is the best cryptocurrency to buy right now.” He emphasized that, although the price of Ethereum may not increase as dramatic as some other crypto currencies, its fundamental forces remain intact.
In a recent Post on social media On X (earlier Twitter), Virtualbacon highlighted its updated time lane and goals for the price of Ethereum, noting that the Crypto currency is in close to $ 2,500, which is a significant recovery from the lowest lowest lowest ones in 2022.
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According to analyst, the key indicator of Ethereum’s potential is the ETH/BTC trade pair, which recently declined from many years support level. Historically, such bounces have often signaled the beginning of Altco’s cycle, aligning with shifts in global liquidity.
Virtualbacon claims that if the price of the Ethereum may regain a return level of 0.382 Fibonacci compared to Bitcoin, it could see a significant gain of about 60%. A further return to a 0.5 level would stimulate its value above 0.05 BTC, improveing bull feelings around Ethereum.
Currently, the price of the Ethereum is consolidated by these critical levels, which are considered to be a strong accumulation range before macroeconomic conditions are moved.
Virtualbacon projects 10k for eth
The analyst also claimed that although Solana (salt) is faster in terms of transaction speed, Ethereum remains the backbone for the majority apps in the real world (Rwas) and stablecoins. It is also the only Altcoin recognized as a commodity in legal terms, gaining confidence from institutional investors.
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Looking in advance, the future effect of Ethereum is closely related to decisions about the monetary policy of federal reserves. Because quantitative splashing (QT) slows down at $ 5 billion a month – the lowest rate in recent history – an analyst sharply predicted a potential break in QT to the third or fourth quarter of this year.
Virtualbacon predicts that this break could run the bottom from Eth/btc The couple, inserting the way to significantly progress of movement at the price of Ethereum.
Virtualbacon maintains bull’s prospects for Ethereum, suggesting that if Bitcoin reaches $ 200,000, the eth could reach a target price of $ 10,000. If Bitcoin climbs even more to $ 250,000, the price of Ethereum could rise to $ 12,000.
When writing, ETH traded at $ 2,440, which is 8% in the last seven days.
Separate Picture with Dall-E, Graph with TraringView.com
