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Ethereum Price: Analyst Predicts ETH To Note 13% Gain, Here's Why. Despite the recent dip in Ethereum price, a prominent crypto market analyst Mags predicts a potential 13% rally based on historical patterns and current market sentiment. The Ethereum price, the world's second-largest cryptocurrency by market cap, saw a steep decline today amid a widespread crypto market selloff. Meanwhile, this drop comes in the wake of stronger-than-expected U.S. job data, which has dampened investor sentiment over a hawkish stance by the Federal Reserve. However, despite the downturn, some analysts are optimistic about Ethereum's potential for a significant rebound. Analyst Predicts 13% Ethereum Price Rally. Despite Ethereum's recent price dip, a prominent crypto market analyst, known as Mags (@thescalpingpro) on the X platform, anticipates a strong recovery. In a recent X post, Mags compared the current Ethereum price trend to historical patterns, suggesting that the cryptocurrency could experience a significant rally soon. According to Mags, Ethereum is "forming a similar structure” to a previous cycle, after which the crypto has soared 13%. Notably, Mags' analysis indicates that Ethereum might reach up to $4,200 if the predicted trend holds true. Currently, Ethereum is trading near $3,700, and this potential rally would represent a 13% increase. This optimistic forecast is based on Ethereum's historical performance, where similar patterns have led to substantial gains. Meanwhile, supporting this outlook, Mags shared a price chart showing Ethereum's current structure, highlighting similarities to past cycles. The comparison suggests that the recent decline might be a precursor to a strong upward movement, akin to previous instances where Ethereum rallied significantly after a similar setup. While Mags presents a bullish outlook, not all experts share the same optimism. A recent report from 10X Research has introduced a more cautious perspective. According to their analysis, Ethereum has broken a critical support level of $3,725. #TopCoinsJune2024

Ethereum Price: Analyst Predicts ETH To Note 13% Gain, Here's Why.

Despite the recent dip in Ethereum price, a prominent crypto market analyst Mags predicts a potential 13% rally based on historical patterns and current market sentiment.

The Ethereum price, the world's second-largest cryptocurrency by market cap, saw a steep decline today amid a widespread crypto market selloff. Meanwhile, this drop comes in the wake of stronger-than-expected U.S. job data, which has dampened investor sentiment over a hawkish stance by the Federal Reserve.

However, despite the downturn, some analysts are optimistic about Ethereum's potential for a significant rebound.

Analyst Predicts 13% Ethereum Price Rally.

Despite Ethereum's recent price dip, a prominent crypto market analyst, known as Mags (@thescalpingpro) on the X platform, anticipates a strong recovery. In a recent X post, Mags compared the current Ethereum price trend to historical patterns, suggesting that the cryptocurrency could experience a significant rally soon. According to Mags, Ethereum is "forming a similar structure” to a previous cycle, after which the crypto has soared 13%.

Notably, Mags' analysis indicates that Ethereum might reach up to $4,200 if the predicted trend holds true. Currently, Ethereum is trading near $3,700, and this potential rally would represent a 13% increase. This optimistic forecast is based on Ethereum's historical performance, where similar patterns have led to substantial gains.

Meanwhile, supporting this outlook, Mags shared a price chart showing Ethereum's current structure, highlighting similarities to past cycles. The comparison suggests that the recent decline might be a precursor to a strong upward movement, akin to previous instances where Ethereum rallied significantly after a similar setup.

While Mags presents a bullish outlook,

not all experts share the same

optimism. A recent report from 10X

Research has introduced a more

cautious perspective. According to

their analysis, Ethereum has broken a critical support level of $3,725.

#TopCoinsJune2024

Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé. Consultez les CG.
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XRP Surges 103% in Volume as Market Faces $410 Million Sell-Off. The broader cryptocurrency market is currently facing a substantial sell-off. Amid this volatility, XRP has seen a dramatic surge in trading volume, rising by 103%. The current sell-off has been brutal for many cryptocurrencies, wiping out significant value in a short span. According to CoinGlass data, the sell-off has resulted in $410 million in liquidations in the last 24 hours, the highest total since mid-April. Based on CoinMarketCap data, XRP trading volume has more than doubled in the last 24 hours, reaching $2.21 billion, showing increased interest and activity among traders. This surge in volume, up by 103%, reflects the increasing attention on XRP amid broader market turmoil. The entire crypto market tumbled on Friday as investors assessed a strong non- farm payrolls number for May raising concerns that the Federal Reserve may not lower interest rates as fast as predicted. Non-farm payrolls increased by 272,000 in May, up from 175,000 in April, surpassing an estimated 190,000. The unemployment rate, however, rose to 4% for the first time since January 2022. Many investors had hoped that Friday's report would show that the job market and economy were slowing, persuading the Fed to ease monetary policy and lower interest rates. XRP fell drastically in Friday's trading session due to macroeconomic developments, reaching lows of $0.454 before recovering marginally. At the time of writing, XRP was down 5.65% in the last 24 hours to $0.4967. The Fed is scheduled to meet next week, although rates are widely expected to remain steady both then and in July. CME figures reveal that traders are pricing in a 68% possibility of a rate cut in September. In the immediate term, a break above the daily moving averages of 50 and 200, around $0.524 and $0.576, could imply a positive rebound. Meanwhile, further falls may target the $0.4294 level as support in the short term. #TopCoinsJune2024
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