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Global M2 Money Supply Says Ethereum Price Will Reach $20,000, Hereâs When
The Global M2 Money Supply has been on the rise over the last year, reaching new peaks in the process. This chart was widely applied to the Bitcoin price as analysts believed that it projected Bitcoin reaching new peaks. So far, the Bitcoin price has already climbed to $124,400 with the money supply chart, and now, analysts are applying the same Global M2 Money Supply chart to the Ethereum price, showing that the altcoin could land at 5-figures soon. What The Global M2 Money Supply Says About Ethereum Price Crypto and market analyst Ted Pillows has taken another route when it comes to predicting the Ethereum price action, and this time, heâs using the Global M2 Money Supply chart. In the X post, the analyst superimposes the Ethereum price chart into the Global M2 Money Supply chart to show how the altcoin has been performing in comparison. Related Reading: Dogecoin Price Could Break Into Double-Digit Rally From This Fibonacci Level The chart shows that the Ethereum price is still lagging behind the money supply chart, but its current position shows it might be ready for another surge. Following the money supply chart would mean that the Ethereum price could see a decline below $4,000, but this is ultimately bullish for the price. This is because of the liquidity that lies at the $4,000 level, and if this liquidity is taken out, then the analyst sees the Ethereum price using this as gunpowder for its next rally. Keeping in line with the Global M2 Money Supply trend, this blowout could lead to an over 300% increase in price. Pillows suggests that the Ethereum price could reach as high as $18,000-$20,000 if this plays out, with a timeline moving into the year 2026. Even in a more conservative stance, the analyst believes that the Ethereum price could trade at half of this target, which would be around $10,000. Ultimately, Pillows believes that Ethereum is still bullish in the long term. The $10,000 Target Pillows is not the only crypto analyst who sees the Ethereum price ultimately reaching the $10,000 target. Another analyst, Titan of Crypto, had previously predicted that Ethereum would ultimately reach $10,000 this year. Titan points to the Bull Pennant formation on the chart, whose breakout would inadvertently put the Ethereum price at the $10,000 target this year if it plays out correctly. Related Reading: XRP Needs To Defend $2.98 Support To Avoid Deeper Correction â Details However, for now, it seems the major problem for Ethereum lies at the $4,000 level with the budding liquidity. Crypto analyst Donald Dean points out that if the altcoin were to lose support at $4,200, then the next area of major support would lie at $4,070. However, this $4,070 would serve as a launch point if it holds. Once this happens, then the analyst sees the ETH price going on a 50% retracement, and eventually climbing to the $5,766 target as the rally takes hold. Featured image from Dall.E, chart from TradingView.com
Analyst Says Ethereum Bounce Is Imminent As BitMine Continues To Accumulate
After losing the $4,450-$4,500 area during the recent market downturn, Ethereum (ETH) is attempting to hold a crucial level as support. Some analysts suggest that the leading altcoin is poised to bounce soon as crypto treasury companies continue to bet on the cryptocurrency. Related Reading: Bitcoin Stuck In Neutral While Markets Roar â Analyst Explains Why Ethereum Eyes Rebound Amid $4,100 Retest On Monday, Ethereumâs price dropped around 7% during the largest liquidation event of the year so far. Notably, the crypto market saw more than $1.7 billion in leveraged positions liquidated over the past 24 hours, according to CoinGlass data. ETH led the losses with nearly $500 million in liquidations, followed by Bitcoinâs $284 million. This dragged the King of Altcoinâs price to the crucial $4,100 support for the first time since August, hitting a one-month low of $4,077. Daan Crypto Trades highlighted that todayâs event was the largest nominal Ethereum liquidation since 2021, when the cryptocurrencyâs price dropped around 45% in a single day. However, various market watchers noted that the price decline was relatively tame compared to previous liquidations of this scale. As the second-largest cryptocurrency dropped to the $4,100 support, some analysts suggested that Ethereum is gearing up for a rebound. Merlijn The Trader affirmed that ETH is âfollowing the blueprintâ to a five-digit target. Per the trader, the cryptocurrency rallied to its previous all-time high (ATH) of $4,800 after breaking out of a multi-year bullish pattern. Following its breakout from an Adam and Eve formation in 2021, the leading altcoin retested the level as support and consolidated around this area for three months before the next leg up. This time, Ethereum displays a new textbook setup with a multi-year descending triangle formation, which was broken out of last month and is currently being retested as support. According to the market watcher, ETH could see a 2021-like breakout toward the $10,000 barrier. Nonetheless, Ted Pillows asserted that the altcoin must hold the $4,100 area as support for a short-term bounce. âIf this level is lost, Ethereum will drop towards the $3,700-$3,800 level,â the analyst warned. BitMine Holds 2% Of ETH Supply Despite the market downturn, corporations continue to bet on the second-largest cryptocurrency for their Digital Asset Treasury (DAT) strategies. BitMine, the second-largest crypto treasury, revealed that it has increased its ETH holdings to nearly 2.5 million tokens over the past week, as part of its goal to hold 5% of Ethereumâs total supply. BitMine now owns over 2% of the supply with 2,416,054 ETH, solidifying its position as the largest ETH Treasury in the world. According to the Monday announcement, the company now holds $11.4 billion in assets, including the 2.4 million ETH tokens, 192 Bitcoin (BTC), $175 million stake in Eightco Holdings for its âMoonshotâ initiative, and unencumbered cash of $345 million. Additionally, the company is the 24th most traded stock in the US, with an average daily volume of $3.5 billion, according to 5-day average data from Fundstrat. Related Reading: Solana Faces Deadly Selling Pressure After 312,233 SOL Deposit Into Coinbase â Hereâs The Value BitMineâs chairman, Thomas âTomâ Lee, stated that the company continues âto believe Ethereum is one of the biggest macro trades over the next 10-15 years,â adding that âWall Street and AI moving onto the blockchain should lead to a greater transformation of todayâs financial system. And the majority of this is taking place on Ethereum.â As of this writing, ETH is trading at $4,145, an 8% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Global M2 Money Supply Says Ethereum Price Will Reach $20,000, Hereâs When
The Global M2 Money Supply has been on the rise over the last year, reaching new peaks in the process. This chart was widely applied to the Bitcoin price as analysts believed that it projected Bitcoin reaching new peaks. So far, the Bitcoin price has already climbed to $124,400 with the money supply chart, and now, analysts are applying the same Global M2 Money Supply chart to the Ethereum price, showing that the altcoin could land at 5-figures soon. What The Global M2 Money Supply Says About Ethereum Price Crypto and market analyst Ted Pillows has taken another route when it comes to predicting the Ethereum price action, and this time, heâs using the Global M2 Money Supply chart. In the X post, the analyst superimposes the Ethereum price chart into the Global M2 Money Supply chart to show how the altcoin has been performing in comparison. Related Reading: Dogecoin Price Could Break Into Double-Digit Rally From This Fibonacci Level The chart shows that the Ethereum price is still lagging behind the money supply chart, but its current position shows it might be ready for another surge. Following the money supply chart would mean that the Ethereum price could see a decline below $4,000, but this is ultimately bullish for the price. This is because of the liquidity that lies at the $4,000 level, and if this liquidity is taken out, then the analyst sees the Ethereum price using this as gunpowder for its next rally. Keeping in line with the Global M2 Money Supply trend, this blowout could lead to an over 300% increase in price. Pillows suggests that the Ethereum price could reach as high as $18,000-$20,000 if this plays out, with a timeline moving into the year 2026. Even in a more conservative stance, the analyst believes that the Ethereum price could trade at half of this target, which would be around $10,000. Ultimately, Pillows believes that Ethereum is still bullish in the long term. The $10,000 Target Pillows is not the only crypto analyst who sees the Ethereum price ultimately reaching the $10,000 target. Another analyst, Titan of Crypto, had previously predicted that Ethereum would ultimately reach $10,000 this year. Titan points to the Bull Pennant formation on the chart, whose breakout would inadvertently put the Ethereum price at the $10,000 target this year if it plays out correctly. Related Reading: XRP Needs To Defend $2.98 Support To Avoid Deeper Correction â Details However, for now, it seems the major problem for Ethereum lies at the $4,000 level with the budding liquidity. Crypto analyst Donald Dean points out that if the altcoin were to lose support at $4,200, then the next area of major support would lie at $4,070. However, this $4,070 would serve as a launch point if it holds. Once this happens, then the analyst sees the ETH price going on a 50% retracement, and eventually climbing to the $5,766 target as the rally takes hold. Featured image from Dall.E, chart from TradingView.com
Analyst Says Ethereum Bounce Is Imminent As BitMine Continues To Accumulate
After losing the $4,450-$4,500 area during the recent market downturn, Ethereum (ETH) is attempting to hold a crucial level as support. Some analysts suggest that the leading altcoin is poised to bounce soon as crypto treasury companies continue to bet on the cryptocurrency. Related Reading: Bitcoin Stuck In Neutral While Markets Roar â Analyst Explains Why Ethereum Eyes Rebound Amid $4,100 Retest On Monday, Ethereumâs price dropped around 7% during the largest liquidation event of the year so far. Notably, the crypto market saw more than $1.7 billion in leveraged positions liquidated over the past 24 hours, according to CoinGlass data. ETH led the losses with nearly $500 million in liquidations, followed by Bitcoinâs $284 million. This dragged the King of Altcoinâs price to the crucial $4,100 support for the first time since August, hitting a one-month low of $4,077. Daan Crypto Trades highlighted that todayâs event was the largest nominal Ethereum liquidation since 2021, when the cryptocurrencyâs price dropped around 45% in a single day. However, various market watchers noted that the price decline was relatively tame compared to previous liquidations of this scale. As the second-largest cryptocurrency dropped to the $4,100 support, some analysts suggested that Ethereum is gearing up for a rebound. Merlijn The Trader affirmed that ETH is âfollowing the blueprintâ to a five-digit target. Per the trader, the cryptocurrency rallied to its previous all-time high (ATH) of $4,800 after breaking out of a multi-year bullish pattern. Following its breakout from an Adam and Eve formation in 2021, the leading altcoin retested the level as support and consolidated around this area for three months before the next leg up. This time, Ethereum displays a new textbook setup with a multi-year descending triangle formation, which was broken out of last month and is currently being retested as support. According to the market watcher, ETH could see a 2021-like breakout toward the $10,000 barrier. Nonetheless, Ted Pillows asserted that the altcoin must hold the $4,100 area as support for a short-term bounce. âIf this level is lost, Ethereum will drop towards the $3,700-$3,800 level,â the analyst warned. BitMine Holds 2% Of ETH Supply Despite the market downturn, corporations continue to bet on the second-largest cryptocurrency for their Digital Asset Treasury (DAT) strategies. BitMine, the second-largest crypto treasury, revealed that it has increased its ETH holdings to nearly 2.5 million tokens over the past week, as part of its goal to hold 5% of Ethereumâs total supply. BitMine now owns over 2% of the supply with 2,416,054 ETH, solidifying its position as the largest ETH Treasury in the world. According to the Monday announcement, the company now holds $11.4 billion in assets, including the 2.4 million ETH tokens, 192 Bitcoin (BTC), $175 million stake in Eightco Holdings for its âMoonshotâ initiative, and unencumbered cash of $345 million. Additionally, the company is the 24th most traded stock in the US, with an average daily volume of $3.5 billion, according to 5-day average data from Fundstrat. Related Reading: Solana Faces Deadly Selling Pressure After 312,233 SOL Deposit Into Coinbase â Hereâs The Value BitMineâs chairman, Thomas âTomâ Lee, stated that the company continues âto believe Ethereum is one of the biggest macro trades over the next 10-15 years,â adding that âWall Street and AI moving onto the blockchain should lead to a greater transformation of todayâs financial system. And the majority of this is taking place on Ethereum.â As of this writing, ETH is trading at $4,145, an 8% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com