Ethereums Bullish Outlook Hinges on Reclaiming $3,540 Level
- Justin Bennett mphsizs rcliming $3,540 for bullish signls, wrning of drop to $2,600 othrwis.
- Whls mssd 340,000 Ethereum worth $1B, with Donld Trumps World Librty Finncil joining th ccumultion trnd.
- VnEck prdicts Ethr will rch $6,000 by Q4 2025, idd by ETF inflows nd stking-frindly rgultions.
Ethereums pric trjctory is drwing ttntion s 2024 pprochs its nd. On Dcmbr 21, crypto nlyst Justin Bennett offrd cutiously optimistic outlook for Ethereum, mphsizing th nd for buyrs to rclim th $3,540 lvl on th wkly timfrm to signl bullish shift in th coming wk.
Howvr, if Ethereum fils to surpss this criticl lvl, it risks losing th ky $3,027 support zon, which could triggr notbl dclin, with potntil drop to s low s $2,600, s shown in his chrt.
Amid ths mrkt dynmics, Ethereum whls hv stppd up to stbiliz th mrkt. Ali Mrtinz, nothr wll-rgrdd crypto nlyst, shrd on Dcmbr 21 tht whls hv mssd 340,000 Ethrworth ovr $1 billionin just 96 hours. This mssiv ccumultion rflcts growing confidnc mong lrg-scl invstors.
Adding to th momntum, Donld Trumps World Librty Finncil hs lso rcntly joind th ccumultion trnd, sizing th opportunity to bolstr its Ethereum holdings during this dip. Such significnt movmnts could signl brodr institutionl intrst in Ethr, furthr nhncing its potntil for rcovry.
Analysts Predict Ethereums Next Move
Titn of Crypto, wll-known nlyst, providd bullish outlook on Ethers pric using Ichimoku cloud nlysis. In rcnt post, h xplind tht Ethr hd rtstd criticl lvls, including th Tnkn nd Kijun lins, which signl potntil rcovry. Whil th Kumo Clouds SSB rprsnts th strongst lin of support, Titn of Crypto xprssd confidnc tht th currnt corrction phs might b nding.
Ethereums potntil is furthr bolstrd by incrsing intrst in spot Ethr ETFs. Ths funds hv sn inflows totling pproximtly $2.43 billion sinc thir dbut in th U.S. mrkt on July 23, ccording to dt from Frsid. Anlysts bliv this trnd could outpc Bitcoin ETFs by 2025, prticulrly if rgultory uthoritis prmit stking yilds within ths funds.
$6,000 Target in Sight for Ethereum
VanEck, lding sst mngr, stimts tht Ethereums pric could surg to $6,000 by th fourth qurtr of 2025. This optimistic prdiction ligns with th brodr mrkts nticiption of bullish trjctory. Th introduction of stking-frindly rgultions nd stdy spot Ethr ETF inflows could furthr ful Ethrs upwrd momntum.
As 2024 concluds, Ethereums journy rflcts rsilinc nd optimism. Th intrply btwn whl ctivity, ETF doption, nd bullish nlyss hints t promising futur for on of th worlds lding cryptocurrncis.
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Text source: TronWeekly
