With Donald Trump elected as the next president, the U.S. election has finally come to a close. As a cryptocurrency supporter, Trump is known for his support of the cryptocurrency sector. Therefore, the announcement of his becoming the 47th president of the United States was met with enthusiasm. The market also reacted positively to this change, with Bitcoin soaring above $75,000 and Ethereum rising by 10%. Below are the heights at which ETH may rise this weekend.
Ethereum Rises 10%: What Happened
With Donald Trump elected as the ultimate leader of the U.S., the U.S. election has historically come to a close. Known for his stance in support of cryptocurrencies, Trump has taken control of the cryptocurrency market. His election as the next president of the United States is crucial for the market, with Bitcoin soaring above $75,000, leading to a significant rise in the altcoin market.
According to Santiment's latest post, Ethereum, which has been in a consolidation phase for a long time, has finally broken the curse, rising 10% to $2800. The portal noted that ETH surged over 10% in the past 24 hours, exceeding $2850. The token's market cap also grew by 13.37%. In addition, the BTC/ETH ratio surged to 0.038%, rising 8.5% in the past 24 hours.
If Ethereum continues to follow this trajectory, the market may witness a significant ETH surge, with the token's trading price potentially breaking the $3000 mark.
Weekend Token Price Predictions
Ethereum (ETH) is currently trading at $2837. According to CoinCodex data, Ethereum may slightly drop by 1% to a trading price of $2810 by November 10.
However, the token may soar again by the end of this month, reaching a new price of $2919.
"According to our current Ethereum price prediction, Ethereum's price is expected to rise by 5.79% to $2,919.43 by December 7, 2024. Based on our technical indicators, the current sentiment is bullish, while the Fear and Greed Index shows a value of 69 (Greed). Ethereum recorded 17 out of 30 (57%) green days in the past 30 days, with a price volatility of 3.47%. According to Ethereum's forecast, now is a good time to buy Ethereum."
