Whales Buying the Dip? Ethereum Price Prediction Turns Ultra Bullish After $9B Surge
Ethereum
Price Prediction
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We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
The Ethereum price has risen by 1.5% in the past 24 hours, reaching $1,835 as the crypto market as a whole drops by the same percentage today.
This lift comes as its 24-hour trading volume climbs to $15.9 billion, having stood at only $9 billion a couple of days ago.
This increase points to renewed buying pressure and accumulation, with the alt also up by 13% in the past week.
And because it remains down by 40% in the past year, the Ethereum price still has plenty of catching up to do, suggesting that more gains may be very close.
Whales Buying the Dip? Ethereum Price Prediction Turns Ultra Bullish After $9B Surge
What’s particularly encouraging about Ethereum’s chart today is that its indicators have flipped bullish after several months of decline.
We see that, after dropping below the 200-day average (blue) in early February, the 30-day average (orange) is now climbing again.
It’s a similar story with ETH’s RSI (purple), which has recently climbed over 50 and looks like it could head up to 70 or higher.
And the point here is that these indicators still have plenty of space left to climb before they enter decidedly overbought territory.
In other words, we could see ETH reach $3,000 by late June, as we suggest in the chart above.
This will follow in part from rising ETH fund balances, with the latest CoinShares Digital Asset Fund Flows report showing that Ethereum-based attracted $183 million in net inflows in the week to April 28.
This makes second only to Bitcoin in terms of weekly flows, and in terms of total assets under management.
In fact, the AUM for ETH funds stands at $9.2 billion, with its nearest rival – Solana – at only $1.3 billion.
This dominance stems from Ethereum’s more established position as a layer-one network, with its TVL still accounting for 51.3% of the entire crypto sector, and this doesn’t include Ethereum-based L2s.
It’s therefore likely to build on this position, with the Ethereum price moving upwards in tandem.
Indeed, ETH could not only hit $3,000 by July, but could end the year at $4,000.
High-Potential New Altcoin That Could Outpace Ethereum
As fundamentally sound as Ethereum is, its status as an established token could mean that its price gains remain relatively gradual.
So if traders are looking for quick, above-average returns, they may consider diversifying into newer tokens, including presale coins.
The latter can often rally big when they list for the first time, with one promising candidate for this being Bitcoin Bull (BTCBULL), an ERC-20 token that has now raised $5.1 million in its ongoing ICO.
Bitcoin Bull is interesting because, as its name suggests, it ties its tokenomics to Bitcoin’s price.
Namely, it has a hard cap of 21 billion BTCBULL, with its protocol burning a portion of this supply every time Bitcoin reaches a new price milestone.
This will start with $125,000, and then repeat with every additional $25,000.
At the same time, BTCBULL will reward holders with Bitcoin (BTC) airdrops at each $50,000 milestone, making the coin potentially very rewarding to hold.
And because it’s an Ethereum-based token, holders will also be able to stake the coin for a passive income.
Investors can join this sale by going to the Bitcoin Bull website and connecting a compatible wallet, such as MetaMask or Best Wallet.
It’s selling at $0.002485, although this will rise again tomorrow, and will continue to rise until the sale ends.
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