Ethereum's Strong Awakening: The Next Explosion Point is Coming Soon, Targeting a 20% Increase in 2024!
After Bitcoin stabilizes at $100,000, the market's attention is gradually turning to the second giant—Ethereum (ETH). Recently, ETH has challenged the key resistance level of $4,000 multiple times, and the current strong on-chain indicators and market enthusiasm suggest that: the breakthrough is just a step away!
From the on-chain data, Ethereum's fundamentals are quite solid:
The daily active addresses have increased by over 4.24%, the number of new addresses has risen by 2.65%, and market participants are highly enthusiastic; the number of zero-balance addresses has decreased by 4%, with more concentrated holding users 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 more than 4.6 million ETH within this range. Behind this is a strong expectation that Ethereum is about to welcome a bigger market.
At the same time, although ETH/BTC is in a downward channel, the bearish sentiment is easing. If BTC breaks the current historical high, it will help accelerate ETH's rise. Looking back at history, every time ETH/BTC breaks out after consolidation, the performance has been remarkable; the breakout in 2021 directly ignited the Ethereum bull market. This year, this script may be played out again.
From a technical analysis perspective, after breaking through $4,000, the target will point directly to $4,200, while the next round of resistance at $5,000 may become the ultimate target for bulls. As the supply-demand dynamics further strengthen, Ethereum is likely to head towards the five-digit price barrier in the upcoming bull market, fulfilling the destiny of "surpassing the Bitcoin halo."
Finally, let me ask: Is your ETH enough? If you also have confidence in the future, consider following Mr. Lin for more market insights to help you lock in market opportunities in advance! The bull market is about to explode, seize the chips of fate, and together we will hit the next peak!
