DeFi Daily News
Thursday, October 23, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Markets Crypto Market

Ethereum Poised for Growth, Aiming to Narrow Gap with Bitcoin: Will It Surpass the $3,000 Mark?

Rubmar Garcia by Rubmar Garcia
October 17, 2024
in Crypto Market
0 0
0
Ethereum Poised for Growth, Aiming to Narrow Gap with Bitcoin: Will It Surpass the ,000 Mark?
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article
Este artículo también está disponible en español.

In the dynamic world of cryptocurrency, the recent market performance has caught the attention of investors and enthusiasts alike, with Ethereum (ETH) at the forefront of conversations. Ethereum, after displaying a bullish formation, has made attempts to break out and position itself to potentially catch up with Bitcoin’s performance, aiming for the highs seen in March.

Related Reading

Ethereum Gears Up for a Showdown With Bitcoin

The cryptocurrency market has once again proven to be a battleground for dominance, with Ethereum taking center stage. After soaring past the $2,500 support mark, due to the market’s upbeat rhythm, Ethereum—globally acknowledged as the second-largest cryptocurrency by market capitalization—has registered an 8.6% increase over the past week. This upward trend has seen its value climb from a range of $2,300-$2,400 to touching the $2,600 milestone.

In a daring move, Ethereum retested the $2,600 resistance level in the last 24 hours, now treating it as a support in its quest to breach the $2,700 territory. This marks a significant phase for Ethereum, as it has struggled to surpass this level for approximately three months.

Noted market analyst, CryptoWolf, highlighted that Ethereum faced rejection at this pivotal level twice post-August’s market downturn, earmarking it as a formidable resistance for Ethereum to overcome. However, overcoming this resistance could see Ethereum’s price “heading straight to the 3500s,” bolstering the belief that the $3,000 mark “won’t stand a chance.” Echoing a similar sentiment, crypto expert Alex Clay has made predictions of Ethereum gearing up to “catch up on BTC” with aims to reach $3,500.

ETH targets $3,500 once it breaks out. Source: Alex Clay on X

According to analyses, Ethereum has concluded its local accumulation within the $2,100-$2,700 range, signaling its readiness to transition into a bullish short-term trend. This viewpoint is supported by other market observations that suggest the market might be hovering near the bottom, as inferred from the ETH/BTC chart analysis.

Tony Research elaborated that the chart “hints at altcoins being currently undervalued relative to Bitcoin. A surge in this metric could spawn a favorable ripple effect across altcoin prices.” The researcher further speculated that altcoins might witness considerable growth in Q1 2025, taking into account historical data indicating Q4 as Bitcoin’s season to shine.

ETH Eyes a Bullish Breakout

Crypto Yapper, another analyst in the space, pointed out Ethereum’s efforts to break free from its three-month symmetrical triangle pattern, having tried to soar past the upper trendline recently on Tuesday.

Ethereum
ETH attempts to break from a symmetrical triangle. Source: Crypto Yapper on X

Following a momentary breach of the trendline, reaching $2,688, ETH witnessed a slight retracement to $2,550. Making another valiant attempt on Wednesday, Ethereum surged above $2,630, momentarily settling around the $2,600 support zone.

Related Reading

If Ethereum successfully breaks out from this formation, the analyst predicts a new target at the $2,900 mark. Achieving this milestone would likely catapult ETH’s valuation towards its March highs, as during the first leg of the rally, the $2,900-$3,000 price range acted as a critical support zone.

Adding to the bullish narrative, seasoned trader Peter Brandt has identified an inverted Head and Shoulders (H&S) pattern on the ETH chart. Brandt suggests that this formation indicates a potential bottom, hinting at an upcoming significant breakout.

At the moment of this analysis, ETH is trading at $2,612, marking a 1% increase over the daily timeframe.

ethereum, eth, ethusdt
ETH’s performance in the three-day chart. Source: ETHUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

As we speculate on the future movements of Ethereum and its endeavor to outshine Bitcoin, one thing remains certain: the cryptocurrency market continues to offer a thrilling roller coaster ride. For those who chase the highs and lows, the journey is as exhilarating as the destination. Whether Ethereum will fulfill the predictions and ascend towards new heights or face hurdles remains to be seen. But one thing is for sure—every step of its journey will be closely watched by an eager and ever-growing crypto community.

For enthusiasts seeking the pulse of the latest developments in decentralized finance and cryptocurrency trends, a visit to DeFi Daily News is a must. Here, you will find a treasure trove of insights, analyses, and forecasts to keep you informed and ahead in the fast-evolving world of DeFi and cryptocurrencies.



Source link

Tags: aimingBitcoinEthereumGapGrowthMarkNarrowPoisedSurpass
ShareTweetShare
Previous Post

Masa Introduces Incentivized Testnet for Twitter Data Miners with 1M MASA Rewards

Next Post

Liberty inches closer to title with Stewart’s 30-piece, Ionescu’s logo 3, and a 15-point rally

Next Post
Liberty inches closer to title with Stewart’s 30-piece, Ionescu’s logo 3, and a 15-point rally

Liberty inches closer to title with Stewart's 30-piece, Ionescu's logo 3, and a 15-point rally

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
Why Outlet Malls Are Struggling In The U.S.

Why Outlet Malls Are Struggling In The U.S.

July 16, 2024
rewrite this title Soulframe Joineries and reforging guide

rewrite this title Soulframe Joineries and reforging guide

July 28, 2025
Live Coverage of Triathlon Decision at Olympics 2024 as Beth Potter and Alex Yee Compete for Gold

Live Coverage of Triathlon Decision at Olympics 2024 as Beth Potter and Alex Yee Compete for Gold

July 31, 2024
rewrite this title Repair from Millions of Kilometers Away: How NASA Keeps the Mars Rovers Alive

rewrite this title Repair from Millions of Kilometers Away: How NASA Keeps the Mars Rovers Alive

September 29, 2025
Use rhino.fi to make payments with cryptocurrency and maintain your anonymity

Use rhino.fi to make payments with cryptocurrency and maintain your anonymity

August 14, 2024
rewrite this title Berkshire Hathaway to buy Occidental’s OxyChem for .7 billion, in Buffett’s biggest deal in three years

rewrite this title Berkshire Hathaway to buy Occidental’s OxyChem for $9.7 billion, in Buffett’s biggest deal in three years

October 2, 2025
rewrite this title with good SEO Binance Founder CZ Receives Presidential Pardon From Donald Trump | Bitcoinist.com

rewrite this title with good SEO Binance Founder CZ Receives Presidential Pardon From Donald Trump | Bitcoinist.com

October 23, 2025
rewrite this title The biggest crypto wipeout was led not by bitcoin, but much smaller tokens. Here’s what happened

rewrite this title The biggest crypto wipeout was led not by bitcoin, but much smaller tokens. Here’s what happened

October 23, 2025
rewrite this title Transfer rumors, news: Chelsea to loan Barcelona goalkeeper Ter Stegen?

rewrite this title Transfer rumors, news: Chelsea to loan Barcelona goalkeeper Ter Stegen?

October 23, 2025
rewrite this title BingX Launches Zero-Fee Trading for BTC, ETH and BNB with Daily Rewards

rewrite this title BingX Launches Zero-Fee Trading for BTC, ETH and BNB with Daily Rewards

October 23, 2025
rewrite this title Lala Kent Mourns The Loss Of Her Beloved Dog Lilly In Heartbreaking Tribute | Celebrity Insider

rewrite this title Lala Kent Mourns The Loss Of Her Beloved Dog Lilly In Heartbreaking Tribute | Celebrity Insider

October 23, 2025
Is It Unfair To Charge Our 19-Year-Old Rent?

Is It Unfair To Charge Our 19-Year-Old Rent?

October 23, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.