Ethereum's Strong Awakening: The Next Explosive Point is Coming Soon, with a 2024 Target Directly Aiming for a 20% Increase!
After Bitcoin stabilizes above $100,000, the market's attention is gradually shifting towards the second giant—Ethereum (ETH). Recently, ETH has repeatedly challenged the key resistance level of $4,000, and the current strong on-chain metrics and market enthusiasm indicate that: the breakthrough is just one step away!
From the on-chain data, Ethereum's fundamentals are quite solid:
Daily active addresses have grown by over 4.24%, the number of new addresses has increased by 2.65%, and market participants are highly enthusiastic; zero-balance addresses have decreased by 4%, and holders are more concentrated, further driving ETH's upward momentum.
Currently, Ethereum has broken through the resistance range of $3,700 to $3,810, with over 3 million wallets absorbing over 4.6 million ETH in that range. Behind this is a strong expectation that Ethereum is about to welcome a larger market trend.
Meanwhile, although the ETH/BTC pair is in a downward channel, bearish sentiment is easing. If BTC breaks through its current historical high, it will help ETH accelerate its rise. Looking back at history, every time ETH/BTC breaks out of consolidation, the performance has been remarkable, with the 2021 breakout directly igniting the Ethereum bull market. This year, this script may play out again.
In technical analysis, after breaking through $4,000, the target will directly aim for $4,200, while the next round of resistance at $5,000 could become the ultimate target for bulls. As supply and demand dynamics further strengthen, Ethereum is likely to reach a five-figure price milestone in the upcoming bull market, fulfilling the determinism of "surpassing Bitcoin's halo."
Finally, let me ask: Do you have enough ETH in your hands? If you are optimistic about the future, consider following Mr. Lin for more market insights to help you lock in market opportunities in advance! The bull market is exploding, grab the chips of fate, and let's strive for the next peak together!
