Cryptocurrency analyst Ali Martinez made a promising assessment for Ethereum (ETH) and expressed positive expectations for the future.$ETH
Despite the huge rise in Bitcoin in recent weeks, Ethereum’s price is stuck around $3,100. However, analysts predict that Ethereum could potentially enter a major uptrend and overtake Bitcoin. Whale movements and on-chain data suggest that ETH could rise to $10,000. ETH, which is currently far behind Bitcoin, could enter a bull market if it breaks $4,000.
Ethereum experienced a 10 percent drop from $3,400 in early November, but continues to maintain the critical $3,000 level. If ETH exceeds $3,500, altcoins may experience strong increases. In addition, if Bitcoin’s market dominance falls below 60 percent, altcoins may accelerate the rally. However, if dominance exceeds 65 percent, altcoins may experience increased selling pressure.
According to the data, at current price levels, 2.82 million wallet addresses have purchased a total of 6.14 million ETH. These strong purchases offer a positive signal for Ethereum’s long-term price movements.
Crypto analyst Ali Martinez said that he expects ETH to target $4,000 first and then rise towards $6,000. Martinez noted that the ascending channel formation usually triggers a strong increase. He also stated that if Ethereum follows the S&P 500 chart structure, its price could rise to $10,000.