{"id":359920,"date":"2021-10-29T22:45:00","date_gmt":"2021-10-29T19:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereums-new-all-time-high-prepares-eth-for-continuation-to-5000\/"},"modified":"2021-10-29T22:45:00","modified_gmt":"2021-10-29T19:45:00","slug":"ethereums-new-all-time-high-prepares-eth-for-continuation-to-5000","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereums-new-all-time-high-prepares-eth-for-continuation-to-5000\/","title":{"rendered":"# Ethereum\u2019s new all-time high prepares ETH for &#8216;continuation to $5,000&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2c9982ec2fc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2c9982ec2fc\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereums-new-all-time-high-prepares-eth-for-continuation-to-5000\/#Bulls_think_BTC_could_hit_90000\" >Bulls think BTC could hit $90,000<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereums-new-all-time-high-prepares-eth-for-continuation-to-5000\/#85000_is_the_next_major_hurdle_for_BTC\" >$85,000 is the next major hurdle for BTC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereums-new-all-time-high-prepares-eth-for-continuation-to-5000\/#Ether_ready_for_a_continuation_to_5000\" >Ether ready for a continuation to $5,000<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ethereum\u2019s new all-time high prepares ETH for &#8216;continuation to $5,000&#8217; <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The cryptocurrency market is in high spirits on Oct. 29 after bulls managed to lift the price of Bitcoin (BTC) back near the $63,000 support zone and Ether (ETH) has established a new all-time high at $4,460.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/6c9c20bd-df43-4af4-9789-4689116eacd0.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 4-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Here&#8217;s what anlaysts are saying about the market now that Bitcoin is finding support above the $60,000 level and Ether looks to enter price discovery. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bulls_think_BTC_could_hit_90000\"><\/span>Bulls think BTC could hit $90,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The bullish moves seen in BTC and Ether caused a moment of reflection for independent market analyst Crypto_Ed_NL, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1453345104186560512\">tweeted<\/a> that it \u201cseems I was not bullish enough at $40,000\u201d when a target of $73,000 was given. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/a68d6d92-fa04-408e-9bc6-ebc4d5c05fc4.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day chart. Source: <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>After taking the recent moves into account, the analyst indicated that the \u201ctarget moved up to $90,000 and after a correction, we should see $100,000.\u201d<\/p>\n<p>Regarding exactly how this scenario would affect the price of Ether, Crypto_Ed_NL <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1453346525824917511\">posted<\/a> a follow-up tweet which outlined how the price action might play out and he gave a price target above $6,000. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/101cab90-c769-4cf4-a337-23c308f5a61c.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Crypto_Ed_NL said, <\/p>\n<blockquote><p>\u201cNo need to put in the usual disclaimers. I&#8217;m wrong when I&#8217;m wrong but I will be very surprised being wrong with this.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"85000_is_the_next_major_hurdle_for_BTC\"><\/span>$85,000 is the next major hurdle for BTC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A more in-depth look at the price action for Bitcoin was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/decentrader.com\/market_updates\/bitcoin-ready-to-rally-after-the-pullback\/\">provided<\/a> by crypto market intelligence firm Decentrader, which noted that last week\u2019s 14% pullback in the price of BTC from $67,000 was \u201cdue to token-margined leverage traders aggressively longing the final run-up to the all-time high and brief breakout levels.\u201d<\/p>\n<p>According to Decentrader, both longs and shorts felt the pain of the recent price drop after a total of $120 million worth of short positions were liquidated on Oct. 20. The \u201clate-longs\u201d also suffered $100 million in liquidations the following day. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/79532791-8f80-4e1f-b3c3-1e4bf6a9023f.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day chart. Source: Decentrader<\/em><\/figcaption><\/figure>\n<p>Now, the price of BTC has \u201cpulled back to the failed rally point from May this year,\u201d which is now \u201cacting support following the failed breakout.\u201d <\/p>\n<p>Decentrader said, <\/p>\n<blockquote><p>\u201cAs a higher time frame signal of bullish trend continuation, we are about to see the 128DMA cross over above the 200DMA. In previous bull markets, the price has seen sustained rally\u2019s after such crossovers. On a technical, market cycle, and on-chain basis, we continue to believe that the next major area of difficulty for BTC will not hit until we <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach $85,000 \u2013 $90,000.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Biggest Bitcoin fund in the world could become ETF by July as GBTC nears $40B AUM<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ether_ready_for_a_continuation_to_5000\"><\/span>Ether ready for a continuation to $5,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One possible scenario for how the price action for Ether could play out in the near future was provided by markets analyst and Cointelegraph contributor Micha\u00ebl van de Poppe. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/640d6ce0-53ed-4822-b452-b2c0c6398a97.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Poppe said, <\/p>\n<blockquote><p>\u201cGood S\/R flip and probably ready for continuation towards $5,000.\u201d<\/p><\/blockquote>\n<p>The overall cryptocurrency market cap now stands at $2.666 trillion and Bitcoin\u2019s dominance rate is 44.2%.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Source: TradingView Here&#8217;s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":359921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvMmU5ZjNhOWMtNWU5OS00ZmZmLTk1M2QtNGU5YjY3ZGYxOGVmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74982,74863,82402,74891,75150,73785],"class_list":["post-359920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-btc-markets","tag-cryptocurrencies","tag-ether-price","tag-ethereum","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/359920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=359920"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/359920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/359921"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=359920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=359920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=359920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}