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Expectation of a "wild rally" for Ethereum (ETH)
A big rally is expected for Ethereum (ETH) approaching $2,900 due to the impact of the elections in the USA.
ETH, known as the leader of altcoins, did not lag behind in the crypto market that started to rise with Trump's election victory. ETH made a nearly 10% rise in the last 24 hours, reaching $2,880. The leading altcoin has recorded a growth of 25% since the beginning of 2024.
Analysts argued that ETH, which is far from its all-time high, is undervalued. According to analysts, a significant rise could occur in ETH.
Crypto analyst Byzantine General addressed his followers on X on November 6th. The analyst expressed his expectation of a "wild rally" for ETH.
The Byzantine general used the following expression;
"I think ETH can start a big rally."
Notable comments for Ethereum (ETH)
The data shows that the price of Ethereum (ETH) has surpassed $2,800 for the first time since August, according to Cointelegraph. The rise in ETH has surprised crypto investors.
Analyst Miles Deutscher stated that ETH outperformed BTC and SOL in the 24-hour period. Deutscher, who shared on X, used the following expressions;
"Understand the incomprehensible"
Another crypto analyst, Benjamin Cowen, expressed that ETH has a value below its potential against BTC. Cowen argued that the Simple Moving Average (SMA) in the ETH/BTC pair is an important indicator. According to the analyst, if the SMA in this pair makes a positive breakout, the uptrend could strengthen.
The ETH/BTC pair reached its lowest level in recent years at 0.03496 dollars on November 6. ETH, boosted by Trump's influence, anchored at 0.038 dollars in the BTC pair.
Crypto investors foresee ETH as a potential buying opportunity and expect the uptrend to continue.
RyanDcrypto, who made a striking price prediction, used the following statements;
**"ETH's rise to $5K will be the most significant rally of all time." **
Tapeiro claimed that ETH price is at a quite low level and it will rise above $8,000 next year.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making decisions.