Popular crypto trader Michaël van de Poppe predicts that the price of Ethereum’s ETH token could reach $3,500 in the next 2-3 months. In a recent Twitter post, van de Poppe stated:
“Ethereum flipped the crucial level at $2,130 for continuation. After that, breakout towards new cycle highs at $2,700 and looking for continuation to $3,500 in the coming 2-3 months.“
This bullish forecast comes on the heels of a technical analysis report on ETH from research firm altfins.

Breakout After Multiple Rejections
According to altfins, ETH finally had a bullish breakout after getting rejected three times at the $2,400 resistance level. This breakout signals a resumption of the overall uptrend, with the next price target at $2,750. altfins recommends placing a stop loss at $2,270, which is 5% below the breakout level.

Additionally, altfins notes that ETH is likely to benefit from the upcoming launch of a spot ETH exchange-traded fund (ETF) in May 2024. The launch of this ETF could bring significant institutional investment into ETH.
The technical analysis firm states that the overall trend for ETH remains bullish across short-, medium- and long-term time horizons. Momentum indicators like the MACD and RSI also reflect growing bullish sentiment.
Key Support and Resistance Levels
If ETH experiences a pullback from current levels, altfins has identified key support zones at $2,150 (previous resistance level) and $2,000. The token recently broke through the resistance at $2,400, clearing the way for a move towards $2,750 next.
Can ETH Really Hit $3,500?
While van de Poppe’s $3,500 target may seem ambitious, it would only require a 57% price appreciation from current levels around $2,230. Given the strongly bullish technical setup and positive fundamentals for Ethereum in the coming months, this target is certainly within reach.
As van de Poppe stated, “After that, breakout towards new cycle highs at $2,700 and looking for continuation to $3,500 in the coming 2-3 months.” If bullish momentum continues building, ETH reaching $3,500 by mid-2024 is a strong possibility.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
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Ethereum on the Brink of a Bull Run
A respected analyst in the cryptocurrency community, known as Bluntz, has made a bold prediction regarding Ethereum’s trajectory. According to Bluntz, Ethereum is on the verge of a significant upward move, having successfully broken free from an extended period of accumulation. This anticipated surge, described as an “inevitable rage pump,” is expected to take many traders by surprise, particularly those who have been overly focused on Ethereum’s performance relative to Bitcoin (ETH/BTC).
At present, Ethereum‘s value against the US dollar stands at approximately $2,373, representing a significant 93% increase for the year. However, its performance against Bitcoin has seen a decrease of about 23% over the same period. This contrasting trend underscores the unique dynamics at play in Ethereum’s market behavior.
Bitcoin’s Momentum Grows Stronger
Turning to Bitcoin, the flagship cryptocurrency is showing no signs of slowing down following its recent rally from around the $36,000 level. Bluntz anticipates that Bitcoin will continue its upward trajectory, defying expectations of a significant correction. The analyst’s view contradicts the cautious approach of many traders who are bracing for a potential pullback of 10-15%.
Bluntz’s analysis is grounded in the Elliott Wave theory, a technique used to predict price movements based on patterns in crowd psychology. The theory suggests that a bullish asset will experience a five-wave rally. Applying this framework, Bluntz predicts that Bitcoin could reach as high as $53,000 before concluding its current bullish wave. Bitcoin is currently valued at about $43,435.
Sui: A New Altcoin on the Rise
The analysis extends beyond the more established cryptocurrencies to include Sui (SUI), a newer layer-1 smart contract blockchain. Bluntz indicates that Sui is poised to exit its accumulation phase, signaling the beginning of a potential markup phase. Following an initial listing pump and a subsequent 80% decline, Sui has shown signs of robust accumulation, hinting at a forthcoming breakout. Currently, Sui’s trading value hovers around $0.681, slightly above the predicted accumulation range.
In summary, the crypto market is exhibiting dynamic shifts, with Ethereum and Bitcoin poised for substantial gains and newer altcoins like Sui showing potential for significant movement. As always, investors and enthusiasts should monitor these developments closely, keeping in mind the inherent volatility of the cryptocurrency market.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
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Ethereum (ETH) has taken center stage with an impressive 10% surge, breaking barriers and reaching $2,113. The surge is not just a price movement; it reflects a broader shift in the Ethereum landscape, marked by a significant increase in ETH addresses and a breakthrough moment with BlackRock's Ethereum ETF filing.

🚀 ETH Addresses on the Rise
Ethereum's recent rally is not isolated; it's part of a larger trend marked by increased accumulation. Sentiments on-chain data reveal a remarkable 38% surge in Ethereum's market value over the past four weeks. Micro addresses holding less than 0.1 ETH have surpassed 100,000 wallets for the first time. Notably, there's substantial movement in the 0.1-10 ETH and 10,000+ ETH tiers, signifying a diverse range of participants.
🌐 Breaking Supply Walls and Beyond
Overcoming a significant supply wall at $2,030, Ethereum has displayed resilience. According to analyst Ali Martinez, there's potential for further growth, with the next milestone set at $2,500. The technical indicators align with bullish sentiment, making this surge more than a short-term spike.
📈 BlackRock's Ethereum ETF Filing
The driving force behind today's Ethereum rally is BlackRock, the world's largest asset manager. Filing a spot at the Ethereum ETF marks a pivotal moment for institutional involvement in the Ethereum ecosystem. Notably, BlackRock follows a pattern observed earlier this year when it filed for a Bitcoin ETF shortly after a similar move for the iShares Bitcoin Trust. This development adds weight to the idea that institutional money is entering the market significantly.
💼 Altcoins Join the Rally
Ethereum is not alone in this upward trajectory; other altcoins ride the wave. Chain link has recorded a remarkable 100% gain over the past three weeks, showcasing the broader strength in the altcoin market. Ethereum's layer-2 platform, Polygon (MATIC), is also experiencing a surge, eyeing the $1 mark.
🔮 The Future of Ethereum and Institutional Involvement
As BlackRock paves the way for Ethereum ETFs, industry experts foresee a broader trend where not only Bitcoin and Ethereum but also altcoins like Chain link and Solana could see ETFs in the future. Analyst Lark Davis notes that this institutional influx could mark a pivotal moment, potentially the last cycle for generating life-changing, generational wealth.
Note: This information is not trading advice. Do your research or consult with a financial professional before making investment decisions.

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