Ethereum (ETH) could rise by more than 20% if it manages to capture network resources, says analyst
By
Renan Sousa
#ETH🔥🔥🔥🔥🔥🔥 The price of the world's second-largest cryptocurrency has disappointed investors recently. Ethereum (ETH) appreciated by just over 40% in 2024, well below the rise of Bitcoin (BTC) in the same period.
However, for Ana de Mattos, technical analyst and partner trader at Ripio, there is a chance that, in the medium term, Ethereum prices will reach US$ 3,280 — which represents a potential increase of 23.6% compared to prices this Monday (10).
“When analyzing the flow, it is possible to observe that there is a high financial volume at the bottom of the graph, which suggests a possible accumulation for the price of Ethereum”, says Mattos.
In addition, blockchain activity is showing an accumulation of funds that could be reflected in ETH token prices.
Surge in Demand for Ethereum (ETH)
According to the latest report from CoinShares, cryptocurrency exchange-traded products (ETPs) have seen five consecutive weeks of net inflows, totaling $1.3 billion.
A closer look at the numbers shows that there was $793 million in investment in Ethereum-related products in the last week.
