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#ETHETFsApproved 

#Exchanges  #ETH  Long/Short Ratio

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Ethereum’s chart signals to traders that a new high could hit next week Ether’s price is forming “structural changes,” indicating that a big move may be on the horizon. Some crypto commentators say it may retest its all-time high within the next seven days. Bankless podcast host Ryan Adams said in a Dec. 9 X post that a new Ether ETHUSD all-time high “could happen” within the next week. Ether’s current all-time high is $4,878, reached in November 2021. Ether traders to closely watch seven-day timeline If ETH were to hit a new high in the next seven days, it would need a 24% weekly gain from its current price of $3,946, according to CoinMarketCap.

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Ethereum’s chart signals to traders that a new high could hit next week

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ETH/USD: Ethereum Outperforms Bitcoin for the Week with Prices Up 8% to $4,000 Key points:Ether outshines Bitcoin for the weekEther still ways away from record highMarkets give up some of last week’s gains Second-biggest coin almost broke out to a fresh 2024 high. Profit-taking and consolidation led to a broad-based retreat in crypto markets. Ethereum ETHUSD was chugging along the $4,000 level to kick off this week’s trading with crypto bros feeling hopeful about future prospects. So much so that they actually pushed its increase before Bitcoin last week — Ether outperformed the king of coins with an 8% weekly gain against a 3% increase for the orange crypto. Ethereum is now floating just below its 2024 high of $4,100 hit in March. But it’s nowhere near its record yet.In 2021, Ether peaked at an all-time high of about $4,900 a piece — a milestone traders hope to revisit in the current red-hot rally. But the second-largest coin has been lagging on the year. Compared to Bitcoin’s 130% gains since early January, Ether boasts an increase of roughly 80%. It’s largely because the focus of the current surge is the incoming White House administration with Donald Trump promising a ton of stuff for Bitcoin.Perhaps the biggest of them all, a Bitcoin strategic reserve that will send the US government on a Bitcoin buying spree to the tune of 1 million tokens across 5 years. Ether, on the other hand, is seen more as a technical player in the crypto space, one that’s used to breathe life into decentralized applications (dApps) and non-fungible tokens (NFTs). Still, a broad-based retreat over the weekend saw major tokens pull slightly back from last week’s highs.

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Don’t Be Surprised If Dogecoin Hits $1 Or $2 ‘In A Hurry’, Says Crypto Analyst

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$DOGE This time, however, Dogecoin appears to be sustaining price action above the 0.786 log Fibonacci level without a deeper correction. According to Cantonese Cat, “So far we’re above the 0.786. That’s insane. It looks like it just wants to keep going up higher forming a very nice bull flag.” Reflecting on weekly Ichimoku Cloud signals and higher time frame indicators, the analyst emphasized that multiple technical factors appear aligned for further bullish momentum. “If you’re also just looking at like the weekly Ichimoku [Cloud], we broke through that convincingly,” he explained. Referencing the monthly chart, he added, “We broke through the monthly Cloud very convincingly and over here, for January 2021, we just broke through it in one stroke. Over here [last month] we broke through it in November, hit the 0.786 fib level here, got rejected and we broke through [the 0.786 in the first days of December].” The analyst also pointed out that, unlike the previous cycle, Dogecoin is not exhibiting a significant retrace before attempting higher levels: “It doesn’t even really want to have a big back test or anything. You got kind of close to back test of the monthly [Cloud], didn’t really quite get there so all these are very bullish.” Cantonese Cat believes Dogecoin may soon challenge its all-time high levels, citing a more bullish overall chart structure relative to the previous cycle. “I think DOGE is going to make all-time highs relatively soon. Even the SuperIchi monthly is ready… This is a fairly bullish chart,” he remarked. The analyst referenced potential Fibonacci extension targets of $2.3 (1.414 extension) or even $4 (1.618 extension), underscoring that these levels, while seemingly high, remain theoretically on the table given current market conditions. “It’s kind of insane to think about because of the market cap, but so far I can’t deny the way that this looks right now—it actually looks a little bit more bullish than last cycle.” At press time, DOGE traded at $0.44.

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