Ethereum is going to surpass Bitcoin, aiming for $10,000
Analyst Ali Martinez boldly predicted that Ethereum will surpass Bitcoin, with a target price of $10,000. He also gave technical reasons for being optimistic about Ethereum.
Although Ethereum has been struggling recently, analysts say that factors like MVRV momentum and whale movements show that Ethereum is expected to rise to $10,000.
Ethereum has not had an easy time recently. The market environment is not good, and the price cannot rise, which makes investors very worried.
However, analysts are watching Ethereum to see if it can break through the $4,000 mark. Ali Martinez said on a platform that Ethereum may surpass Bitcoin.
Martinez remembers that Ethereum used to rise better than Bitcoin when the market was good, but this has not happened yet.
He said that the MVRV momentum indicator is very important and can show whether Ethereum is going to rise.
MVRV momentum and price
It is said that Ethereum's MVRV momentum is approaching a critical point. In the past, when this indicator exceeded the 180-day moving average, the price would rise sharply. Although the price has risen from $2,400 to $2,800, it has not yet reached this critical point.
Martinez thinks this may mean that the big rise has not yet arrived.
Whales and large institutions are taking action
In addition to technical indicators, on-chain activities also show that investors have confidence in Ethereum. For example, in the past two weeks, $147 million of Ethereum has been bought through ETFs, and institutional interest is growing.
Also, investors bought $1.4 billion of Ethereum, and whales also bought more than 430,000, spending more than $1.4 billion!
These are all good signs that Ethereum is going to rise. Martinez said that the price of Ethereum may now be between $4,000 and $6,000.
Ethereum's support level is also very important
Of course, if Ethereum is to rise, it depends on whether the key support level can be maintained.
Martinez said that the two price levels of $3,000 and $2,400 are very important, and a lot of Ethereum was bought at these two prices before.
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