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Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
Ethereum

Ethereum Next Big Move Incoming? Expert Points To 75% Price Surge Ahead

Godspower Owie
by Godspower Owie
11 months ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum‘s renewed price momentum appears to be slowing down as bears have taken control of the market once again. Despite the waning price strength, several crypto analysts are still bullish about the crypto asset’s trajectory, predicting that ETH could be set to rally in the short term.

Ethereum Primed For Explosive Growth

The price of Ethereum may be gearing up for its next explosive growth, with market expert and trader Javon Marks projecting an impending price surge for ETH of about 75%. This demonstrates his strong confidence in the potential of the crypto asset in spite of rising market turbulence. 

Related Reading: Ethereum Setting Up For A Potential Upward Breakout Rally, Here’s How

Javon Marks points to key technical indicators and patterns that show that the altcoin is gathering strength, setting it up for a substantial upswing in the coming weeks. As the crypto asset continues to see positive sentiment in the market, Ethereum might hit new heights during this expected surge.

After navigating ETH’s current price performance, Javon Marks believes a big move is on the horizon following a breakout from the Relative Strength Index (RSI) and multiple verified Hidden Bull Divergence patterns. According to the expert, this breakout could trigger a continuous move toward the $4,811.6 price level, which is only a few inches away from its all-time high of $4,878.

Ethereum
A 75% price surge looms for Etherem | Source: Javon Marks on X

The expert highlighted that since the breakout from the RSI, prices have increased by almost 120%, suggesting that a run is already in effect. As a result, Javon Marks anticipates an additional 75% move for Ethereum in order to reach the $4,811 price level, which is further confirmed by these confirmations and breakouts.

Marks’ prediction is part of a broader view that Bitcoin, the largest cryptocurrency asset, could determine ETH’s next move. “It may be near evident of what’s next for ETH, which can be a fulfillment to $4,811+, following the leader, and for that to be done, it can take Bitcoin climbing even more,” he stated.

At the time of the post, he noted that if ETH’s following fulfillment to $4,811.6 is validated, BTC may rise even further and break above $67,559, which will ultimately pave the way for BTC to rise to more than $116,000. In addition, this move will allow Bitcoin to lead the general crypto market into heightened bullish stages.

A $6,000 ETH Possible In This Cycle?

ETH is currently seeing a wave of bullish predictions. Another crypto expert and trader, Ali Martinez, laid out a potential scenario for the altcoin to reach a new all-time high of $6,000, triggering optimism in the community.

Related Reading: Ethereum Milestone Looms: Market Expert Foresees Breakthrough To $10,000 Mark

This forecast is bolstered by Ethereum’s resiliency at the $2,400 support level. According to Martinez, since it surpassed the $2,400 mark, the altcoin has strongly maintained the support range and may now be aiming for the upper boundary of the channel at roughly $6,000.

Ethereum
ETH trading at $2,502 on the 1D chart | Source: ETHUSDT on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Godspower Owie

Godspower Owie

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Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

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