Ethereum on the Brink of a Bull Run
A respected analyst in the cryptocurrency community, known as Bluntz, has made a bold prediction regarding Ethereum’s trajectory. According to Bluntz, Ethereum is on the verge of a significant upward move, having successfully broken free from an extended period of accumulation. This anticipated surge, described as an “inevitable rage pump,” is expected to take many traders by surprise, particularly those who have been overly focused on Ethereum’s performance relative to Bitcoin (ETH/BTC).
At present, Ethereum‘s value against the US dollar stands at approximately $2,373, representing a significant 93% increase for the year. However, its performance against Bitcoin has seen a decrease of about 23% over the same period. This contrasting trend underscores the unique dynamics at play in Ethereum’s market behavior.
Bitcoin’s Momentum Grows Stronger
Turning to Bitcoin, the flagship cryptocurrency is showing no signs of slowing down following its recent rally from around the $36,000 level. Bluntz anticipates that Bitcoin will continue its upward trajectory, defying expectations of a significant correction. The analyst’s view contradicts the cautious approach of many traders who are bracing for a potential pullback of 10-15%.
Bluntz’s analysis is grounded in the Elliott Wave theory, a technique used to predict price movements based on patterns in crowd psychology. The theory suggests that a bullish asset will experience a five-wave rally. Applying this framework, Bluntz predicts that Bitcoin could reach as high as $53,000 before concluding its current bullish wave. Bitcoin is currently valued at about $43,435.
Sui: A New Altcoin on the Rise
The analysis extends beyond the more established cryptocurrencies to include Sui (SUI), a newer layer-1 smart contract blockchain. Bluntz indicates that Sui is poised to exit its accumulation phase, signaling the beginning of a potential markup phase. Following an initial listing pump and a subsequent 80% decline, Sui has shown signs of robust accumulation, hinting at a forthcoming breakout. Currently, Sui’s trading value hovers around $0.681, slightly above the predicted accumulation range.
In summary, the crypto market is exhibiting dynamic shifts, with Ethereum and Bitcoin poised for substantial gains and newer altcoins like Sui showing potential for significant movement. As always, investors and enthusiasts should monitor these developments closely, keeping in mind the inherent volatility of the cryptocurrency market.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#EthereumBull #ethupdates $ETH

Popular crypto trader Michaël van de Poppe predicts that the price of Ethereum’s ETH token could reach $3,500 in the next 2-3 months. In a recent Twitter post, van de Poppe stated:
“Ethereum flipped the crucial level at $2,130 for continuation. After that, breakout towards new cycle highs at $2,700 and looking for continuation to $3,500 in the coming 2-3 months.“
This bullish forecast comes on the heels of a technical analysis report on ETH from research firm altfins.

Breakout After Multiple Rejections
According to altfins, ETH finally had a bullish breakout after getting rejected three times at the $2,400 resistance level. This breakout signals a resumption of the overall uptrend, with the next price target at $2,750. altfins recommends placing a stop loss at $2,270, which is 5% below the breakout level.

Additionally, altfins notes that ETH is likely to benefit from the upcoming launch of a spot ETH exchange-traded fund (ETF) in May 2024. The launch of this ETF could bring significant institutional investment into ETH.
The technical analysis firm states that the overall trend for ETH remains bullish across short-, medium- and long-term time horizons. Momentum indicators like the MACD and RSI also reflect growing bullish sentiment.
Key Support and Resistance Levels
If ETH experiences a pullback from current levels, altfins has identified key support zones at $2,150 (previous resistance level) and $2,000. The token recently broke through the resistance at $2,400, clearing the way for a move towards $2,750 next.
Can ETH Really Hit $3,500?
While van de Poppe’s $3,500 target may seem ambitious, it would only require a 57% price appreciation from current levels around $2,230. Given the strongly bullish technical setup and positive fundamentals for Ethereum in the coming months, this target is certainly within reach.
As van de Poppe stated, “After that, breakout towards new cycle highs at $2,700 and looking for continuation to $3,500 in the coming 2-3 months.” If bullish momentum continues building, ETH reaching $3,500 by mid-2024 is a strong possibility.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ethereum2024 #EthereumBull $ETH

In the last day, Ethereum's price has increased by an additional 2% to $1840, giving it a $221 billion market capitalization.While all the attention is focused on Solana, XRP, and Cardano during the altcoin market rise, Ethereum (ETH) has been quietly moving forward in parallel.Ethereum Network ExplodesThe creation of new addresses has significantly increased, according to Santiment's on-chain statistics, supporting Ethereum's recent jump beyond $1,800. This is the greatest daily figure since October 7th.With the network's long-term expansion trend continuing and the supply on exchanges getting less, Ethereum's price ($ETH ) has a good chance of breaking beyond $2,000 once more.The talk around the recent increase in the price of ETH was spurred by Vitalike Buterin migrating Ethereum to Coinbase. Additionally, despite the current selling pressure, the data on Ethereum derivatives indicates an increasing optimistic mood.The price of Ethereum (ETH) has dropped by 14.8% since it peaked on April 16, 2023, at $2,100. Nonetheless, two important derivatives indices show a notable rise in investor optimism that hasn't been witnessed in more than a year.#EthereumBull #Ethererum #ETH #btcnews99 #BTC