{"id":17161,"date":"2024-11-01T11:48:49","date_gmt":"2024-11-01T11:48:49","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=17161"},"modified":"2024-11-01T11:48:49","modified_gmt":"2024-11-01T11:48:49","slug":"ethereum-eth-to-6k-if-it-holds-this-crucial-resistance-level-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=17161","title":{"rendered":"Ethereum (ETH) to $6K if it Holds This Crucial Resistance Level: Analyst"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Despite the recent dip, some analysts suggest Ethereum (ETH) could hit a fresh peak if it doesn\u2019t drop below an important level. <\/span>
\nIn contrast, veteran trader Peter Brandt and other indicators signal a further correction in the short run.<\/span><\/p>\n

<\/a><\/h2>\n

New ATH Remains Possible<\/h2>\n

Ethereum (ETH) followed the overall pullback in the crypto sector <\/span>witnessed<\/span> today (November 1), registering a 5% daily plunge. It currently trades at around $2,500 (per CoinGecko\u2019s data) with a market capitalization of <\/span>a little<\/span> over $300 billion.<\/span><\/p>\n

<\/a>ETH Price, Source: CoinGecko<\/p>\n

Despite the negative trend, some analysts outlined bullish predictions. The X user Ali Martinez <\/span>reiterated<\/span><\/a> his prognosis that ETH <\/span>has a chance to<\/span> hit a new all-time high of $6,000 if it stays above the $2,400 resistance zone.<\/span><\/p>\n

Another individual who chipped in is Poseidon. The analyst <\/span>promised<\/span><\/a> to cash out their ETH holdings if the price plummets below $2,450 and \u201cwon\u2019t go long again.\u201d The last time the valuation dipped to that mark was on October 26.<\/span><\/p>\n

For their part, CryptoBullet shared a mid-term perspective, predicting a pump to $3,700 in the following two months:<\/p>\n

$ETH<\/a> #ETH<\/a> 3D chart | Mid term perspective<\/p>\n

Support line held brilliantly!<\/p>\n

We\u2019ve been stuck between the Support line & Horizontal Resistance ($2770-2870) for 3 months now.<\/p>\n

I think in November-December we\u2019ll break out<\/p>\n

Target \u2013 $3700 pic.twitter.com\/n9N3Wqk8Jc<\/a><\/p>\n

\u2014 CryptoBullet (@CryptoBullet1) October 31, 2024<\/a><\/p>\n\n

Other optimistic industry participants include Crypto General and Wolf, both <\/span>envisioning<\/span><\/a> a spike toward $4,000. It is important to note that the analysts outlined their forecasts on October 29 when ETH was trading much higher than now.\u00a0<\/span><\/p>\n

The Contrary Opinion<\/span><\/h2>\n

Unlike <\/span>the <\/span>aforementioned<\/span> analysts<\/span>, veteran trader Peter Brandt is somewhat pessimistic about an eventual ETH rally. He <\/span>claimed<\/span><\/a> there was no buy signal on the price chart, suggesting there is an \u201cunmet target at $1551.\u201d <\/span>His post received support from some X users, with one pointing out the \u201clack of momentum\u201d as a bearish factor.<\/span><\/p>\n

Additionally, numerous metrics are currently flashing the sell signal. Those <\/span>include<\/span><\/a> the Exponential Moving Average (on a 10-day scale), the Simple Moving Average (10 days), <\/span>Volume Weighted<\/span> Moving Average (20 days), <\/span>Hull<\/span> Moving Average (9 days), and more.\u00a0<\/span><\/p>\n

The post Ethereum (ETH) to $6K if it Holds This Crucial Resistance Level: Analyst<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Despite the recent dip, some analysts suggest Ethereum (ETH) could hit a fresh peak if it doesn\u2019t drop below an important level. In contrast, veteran trader Peter Brandt and other indicators signal a further correction in the short run. New ATH Remains Possible Ethereum (ETH) followed the overall pullback in the crypto sector witnessed […]<\/p>\n","protected":false},"author":0,"featured_media":17162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17161"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17161"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17162"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}