CandleFocus Ethereum price is on track to hit $10k, crypto analyst predicts
2024-11-18
Author: Content Editor
Ethereum's price has experienced a pullback and entered a local technical correction phase, falling 11% from its highest level this month. This retreat coincided with the selling activities of whales, with over $300 million worth of ETH tokens moved by whales in the last 24 hours. Furthermore, Ethereum's price drop can also be attributed to outflows from spot ETFs. Despite underperforming in the DEX industry, some analysts remain optimistic that Ethereum's price will bounce back in the long term, with one analyst predicting a jump to $10,000. The daily chart also suggests bullish catalysts for Ethereum, including the formation of a golden cross pattern and the possibility of a bounce back to $3,447 and potentially to the year-to-date high of $3,972.
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