Ethereum (ETH) Will Experience ‘Massive Rally’ Under These Conditions (Analysts)

TL;DR

Experts are predicting a substantial upward move for ETH, expecting it to gain ground quickly after BTC stabilizes. The chain’s key metrics suggest reduced selling pressure and growing investor interest, hinting at a possible bullish phase for the asset price. ETH Bull Run on the Horizon?

Despite experiencing a 14% price increase over the past week, Ethereum (ETH) continues to lag behind other leading cryptocurrencies. For example, Bitcoin (BTC) rose 22% during this period, Ripple’s XRP soared 30%, and Dogecoin (DOGE) exploded over 100%.

According to numerous analysts, ETH has yet to pump hard. Popular investor using the nickname X CoinMamba envisioned a “massive rally” once BTC settles. “It will catch up very quickly,” they added.

Bitcoin has been one of the market leaders, with its valuation soaring to an all-time high of over $93,000 on November 13. In the following hours, it pulled back a bit and is currently worth around $91,300 (according to CoinGecko data). It will be interesting to see if the price will consolidate in the coming days and if this development will be followed by the potential rise of Ethereum (as predicted).

User X Skew shared a similar thesis. The trader recalled that ETH performed quite similarly during the previous bull run, but eventually posted impressive gains.

$ETH It seems to be doing the same thing as the last bullfight

it lagged the performance of BTC and the market for 2-3 months and then it exploded

you probably see something similar to this

— Skew Δ (@52kskew) November 13, 2024

Other well-known industry participants predicting a bright future for the asset include Ash Crypto and Crypto Beast. The former sees ETH trading between $10,000 and $15,000 over the next 6-12 months, while the latter sets “a realistic target” of $8,000.

What do the metrics suggest?

Some important indicators on the chain indicate that the price of the asset could be about to rise. The net exchange flow of ETH, for example, has been predominantly negative over the past month (outflows exceeding inflows). This development points to a shift from centralized platforms to self-custody methods and could be interpreted as a bullish sign as it reduces immediate selling pressure.

Next, we’ll focus on the “In The Money” metric – a technical analysis tool that measures the change in the number of ETH investors currently holding paper profits. According to data from IntoTheBlock, it has risen almost 2% on a 24-hour scale, showing the bullish signal.

Finally, large ETH transaction volume (where each transaction exceeds $100,000) has increased by 5% over the same period. This activity often signals the participation of whales, whose interaction can be seen as a positive sign by smaller players and encourages them to enter the ecosystem, thereby injecting new capital.

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