Ethereum Price Prediction: ETH Hits $3,400 in One Day; Is $4,000 the Next Target?

Ethereum (ETH) has seen a significant surge recently, surpassing the $3,000 mark yesterday.

Ether currently trades at $3,262, a gain of over 3.32% in the past 24 hours. This price movement comes right after Bitcoin (BTC) hit a new all-time high, soaring to $82,000 yesterday.

Given the ongoing momentum, some market observers are optimistic that $4,000 could be Ether's next target. Let's explore Ethereum's next possible direction in the following analysis.

ETH's Price Pump Follows Bitcoin Surge

Ethereum recently broke a multi-month consolidation pattern in which its price ranged between $2,300 and $2,700 since August. This consolidation has formed a strong resistance level of around $2,800.

ETH's price is now closer to breaking the next resistance level at $3,500. A breach above this level will further boost the buying strength in the market.

Source: TradingView

If a pullback occurs, the support level will be around $2,800, holding against further corrections. However, multiple technical indicators suggest a continued bullish trend.

ETH Analysis: Bullish Momentum Could Push ETH Toward $3,500ETH/USDT 1D Chart - Source: TradingView

Ethereum (ETH) is showing strong bullish signs, with its price currently near the upper line of the Bollinger Bands indicator.

This position reflects heightened buying interest, suggesting investors are confident in further price growth.

Another strong indicator is the MACD, which is currently above its signal line. This shows that ETH buyers are in control of the market and could continue driving the price up in the short term.

Source: TradingView

However, Ethereum's Relative Strength Index is currently at 72, suggesting that the overbought and a market correction might occur soon.

The 50-day and 200-day Simple Moving Averages (SMA) are below the current market price. This is another bullish signal, as it indicates that the overall trend for Ethereum remains positive.

If the current momentum continues, ETH could soon test the next resistance level at $3,500. Breaking this level would likely signal even more upside potential for the coin.

With the bullish indicators aligning and market confidence growing, a breakout above $3,500 seems increasingly possible.

Spot Ethereum ETFs Drive Bullish Sentiment

On November 11, Ethereum spot ETFs recorded $295 million in daily inflows, a new milestone, according to Nate Geraci on X.Fidelity's FETH led with $115.5 million, followed by BlackRock's ETHA with $100 million, and Grayscale's mini-ETF saw $63.3 million.

The surge in inflows started after Donald Trump's recent victory, with Ether ETF inflows surpassing $500 million in just four days.

These massive inflows highlight growing institutional interest in Ethereum.This positive market sentiment could help Ethereum reach new resistance levels, such as the $3,500 mark.

ETH to Hit $5,400, Analyst Predicts

Amid the bullish sentiment in the market, analysts are not yet satisfied with ETH's rally. Seasoned market analyst Captain Faibik shared a bullish forecast via the X platform early today.

According to the Analyst, ETH is still moving inside the Broadening Wedge Pattern." However, he believes the coin will break out of this pattern soon.

Captain Faibik thinks the potential midterm target is $5,450, a 68% increase from Ether's current price of $3,240.

Analyst Predicts Ethereum Surge to $6,000

Analyst Ali Martinez recently predicted that Ethereum could rise to $6,000 after defending the major support level at $2,400. Martinez's prediction aligns with Ethereum's current bullish momentum.

Holding key support levels often signals strong buying pressure, boosting investor confidence. Martinez's $6,000 target could inspire optimism, drawing more buyers and pushing prices higher.

If ETH maintains its current momentum, it might continue its upward trend, moving toward new highs.

While Ether shows promise, a newcomer called FreeDum Fighter (DUM) has garnered significant investor interest. This project is currently in presale and is already making waves with the potential for notable growth.

FreeDum Fighters: A Potential Alternative to Consider

The world of cryptocurrency is constantly evolving, and FreeDum Fighters (DUM) taps into the rapidly growing PoliFi market.

It offers a catchy blend of politics and crypto, allowing investors to leverage the buzzing political landscape to make massive returns on investment.So far, the project has raised over $420,000 in presale funding.

What Makes FreeDum Fighters Worth Considering

FreeDum Fighters humorously weaves the ongoing Democrat and Republican rivalry to produce an appealing crypto narrative. Users can bet on two satirical political candidates Kamacop and MAGATRON and earn rewards.

The project already boasts a solid following, with over 1,800 Twitter followers and 1,500 Telegram members. This feat indicates strong community support. In addition, the token is lower than a cent, currently priced at $0.000065, leveling entry barriers for interested investors.

Further, it has well-thought-out tokenomics. 40% of the total token supply is allocated for presale and 20% for exchange liquidity, ensuring smooth trading once the token is listed.

Moreover, security is a top priority for the project, as evidenced by the successful completion of two independent audits.

FreeDum Fighters has outlined an ambitious roadmap. The project plans to introduce staking pools, where investors can earn rewards. It will also host weekly debates between the AI candidates, with airdrop rewards for participants.

These initiatives are designed to keep the community engaged and excited about the project's future. For investors who got in early, FreeDum Fighters may be one of the next big trends in crypto.

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