Can Ethereum reach the peak of $29,000? In-depth analysis of the driving force behind ETH's surge!
Market focus: Ethereum rebounds strongly, reaching new heights
Since the brief pullback in early September, Ethereum (ETH) has rebounded by more than 18%, showing its tenacity and vitality as a leader in cryptocurrencies. Recently, Ethereum hit a 24-hour high of $2,687, sparking widespread discussion and speculation in the market - can this digital currency continue to advance and even reach the ambitious goal of $29,000?
BlackRock's strategic shift brings major benefits to Ethereum
The actions of BlackRock, a global asset management giant, are undoubtedly a weather vane for the financial market. Its CEO Larry Fink recently publicly admitted that he had misjudged his views on cryptocurrencies, especially Ethereum, five years ago.
Fink not only personally favors Ethereum, but BlackRock also supports this transformation with practical actions, planning to tokenize up to $10 trillion of assets on the Ethereum blockchain in the future.
Analyst Outlook: ETH Value Revaluation, $29,000 is Not Out of Reach
Inspired by BlackRock's strategic shift, many cryptocurrency analysts have adjusted their price forecasts for Ethereum.
Technical Analysis: Double Bottom Pattern Appears, Broad Upside
From a technical point of view, the double bottom pattern formed on the Ethereum chart indicates that the price is expected to rise further. At present, the price of Ethereum is in a clear downward channel, but it has recently rebounded from the lower channel and is heading towards the upper resistance level of the channel. According to professional data analysis, from the current level, the price of Ethereum is expected to rise by about 22.84% in the channel to around $3,200.
After a brief correction, Ethereum has shown strong rebound momentum and huge market potential. BlackRock's strategic shift has added infinite possibilities to the future of Ethereum.
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