{"id":455585,"date":"2021-01-29T16:00:44","date_gmt":"2021-01-29T16:00:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=455585"},"modified":"2024-06-11T10:45:42","modified_gmt":"2024-06-11T10:45:42","slug":"if-history-rhymes-ethereum-could-be-on-the-brink-of-rallying-to-3000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/if-history-rhymes-ethereum-could-be-on-the-brink-of-rallying-to-3000\/","title":{"rendered":"If History Rhymes, Ethereum Could Be on the Brink of Rallying to $3,000"},"content":{"rendered":"<ul>\n<li>Ethereum saw a massive breakout rally today that came about alongside Bitcoin<\/li>\n<li>BTC\u2019s surge from $32,000 to highs of $38,500 came about as the result of Elon Musk changing his Twitter bio to \u201c#Bitcoin\u201d and calling the change \u201cinevitable\u201d in hindsight<\/li>\n<li>This dragged all the major altcoins higher, but the focus remains on Bitcoin for the time being<\/li>\n<li>This has caused ETH to see some slight underperformance and may result in the altcoins market stagnating while Bitcoin rallies<\/li>\n<li>One analyst is now looking towards potentially imminent price discovery for Ethereum<\/li>\n<li>He notes that assuming it tracks Bitcoin\u2019s price action, ETH could see a rally to $3,000 in the coming few weeks<\/li>\n<\/ul>\n<p><a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-us-election-results-rally-5k\/\">Ethereum<\/a> has seen some bullish price action throughout the past several hours, with bulls sending its price rocketing up to highs of $1,440 in tandem with Bitcoin\u2019s surge to $38,500.<\/p>\n<p>The market\u2019s immense strength that came about due to this movement is showing few signs of wavering, despite a few pullbacks.<\/p>\n<p>One analyst is now noting that ETH could be on the cusp of seeing an explosive movement that sends it to fresh all-time highs of around $3,000 before it faces any massive resistance.<\/p>\n<h2><strong>Ethereum Soars Alongside Bitcoin as Market Rebounds<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>At the time of writing, <a href=\"https:\/\/uniquehot.com\/news\/ethereum-slides-14-in-24-hours-bear-div-hints-at-deeper-drop-ahead\/\">Ethereum<\/a> is trading up 8% at its current price of $1,390, which is just below its recent highs of $1,475 set at the peak of last week\u2019s move higher.<\/p>\n<p>Bulls are trying to take full control of the cryptocurrency now, despite a few failed attempts by bears to fade the pump.<\/p>\n<p>Pullbacks following a massive move higher are to be expected, but there\u2019s a strong possibility that it gets quickly erased by bulls eagerly awaiting an entry following the overnight developments.<\/p>\n<h2><strong>Analyst: ETH Could See an Explosive Move to $3,000 Next<\/strong><\/h2>\n<p>One analyst <a href=\"https:\/\/twitter.com\/CryptoHornHairs\/status\/78429189\" rel=\"nofollow\">explained<\/a> in a recent tweet that <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/elon-musk-jokes-he-is-never-turning-down-getting-paid-in-bitcoin\/\">Ethereum<\/a> could be on the cusp of seeing an explosive rally.<\/p>\n<p>He notes that once it breaks above its all-time highs, the cryptocurrency will likely see price discovery that allows it to rally towards $3,000 if it copies the same pattern Bitcoin saw.<\/p>\n<blockquote><p>\u201cETH: Looking at potential scenarios for price discovery&#8230; If we keep tracking BTC&#8217;s move and put in a leg of +111%, post the real deal ATH breakout, then we interestingly will be right at $3,000. Big psychological level, same price that gave BTC a big pullback in 2017.\u201d<\/p><\/blockquote>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-455586\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/01\/Es5rod0XMAIPxGy.jpg?resize=860%2C436\" alt=\"Ethereum\" width=\"860\" height=\"436\"><\/p>\n<pre>Image Courtesy of HornHairs. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow\">ETHUSD on TradingView.<\/a><\/pre>\n<p>The coming few days should provide insights into where BTC and Ethereum will trend in the mid-term and whether this latest surge is sustainable.<\/p>\n<pre>Featured image from Unsplash.\r\nCharts from <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow\">TradingView<\/a>.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum saw a massive breakout rally today that came about alongside Bitcoin BTC\u2019s surge from $32,000 to highs of $38,500 came about as the result of Elon Musk changing his Twitter bio to \u201c#Bitcoin\u201d and calling the change \u201cinevitable\u201d in hindsight This dragged all the major altcoins higher, but the focus remains on Bitcoin for the time being This has caused ETH to see some slight underperformance and may result in the altcoins market stagnating while Bitcoin rallies One analyst is now looking towards potentially imminent price discovery for Ethereum He notes that assuming it tracks Bitcoin\u2019s price action, ETH could see a rally to $3,000 in the coming few weeks Ethereum has seen some bullish price action throughout the past several hours, with bulls sending its price rocketing up to highs of $1,440 in tandem with Bitcoin\u2019s surge to $38,500. The market\u2019s immense strength that came about due to this movement is showing few signs of wavering, despite a few pullbacks. One analyst is now noting that ETH could be on the cusp of seeing an explosive movement that sends it to fresh all-time highs of around $3,000 before it faces any massive resistance. Ethereum Soars Alongside Bitcoin as Market Rebounds\u00a0 At the time of writing, Ethereum is trading up 8% at its current price of $1,390, which is just below its recent highs of $1,475 set at the peak of last week\u2019s move higher. Bulls are trying to take full control of the cryptocurrency now, despite a few failed attempts by bears to fade the pump. Pullbacks following a massive move higher are to be expected, but there\u2019s a strong possibility that it gets quickly erased by bulls eagerly awaiting an entry following the overnight developments. Analyst: ETH Could See an Explosive Move to $3,000 Next One analyst explained in a recent tweet that Ethereum could be on the cusp of seeing an explosive rally. He notes that once it breaks above its all-time highs, the cryptocurrency will likely see price discovery that allows it to rally towards $3,000 if it copies the same pattern Bitcoin saw. \u201cETH: Looking at potential scenarios for price discovery&#8230; If we keep tracking BTC&#8217;s move and put in a leg of +111%, post the real deal ATH breakout, then we interestingly will be right at $3,000. Big psychological level, same price that gave BTC a big pullback in 2017.\u201d Image Courtesy of HornHairs. Source: ETHUSD on TradingView. The coming few days should provide insights into where BTC and Ethereum will trend in the mid-term and whether this latest surge is sustainable. Featured image from Unsplash. Charts from TradingView.<\/p>\n","protected":false},"author":499,"featured_media":454858,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[65296,8686,78803],"class_list":["post-455585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>If History Rhymes, Ethereum Could Be on the Brink of Rallying to $3,000<\/title>\n<meta name=\"description\" content=\"One analyst is now noting that Ethereum could be on the cusp of seeing an explosive move to fresh all-time highs of around $3,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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