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Forbes
4 days ago
- Business
- Forbes
Ether Technical Analysis: Prices Could Reach Mid-$3,000s Soon
Ether could be headed above $3,000 in the near future. Ether prices, which have roughly doubled in the last few months, could be headed toward the mid-$3,000-range shortly, according to technical analysts. The digital currency, the world's second-largest by total market value, climbed above the $2,800 level on Tuesday, June 10 for the first time since late February, according to Coinbase data from TradingView. 'Now that ether has broken above $2,800, the next key resistance level is $3,000—a psychological barrier and a price ceiling seen multiple times in March. If ETH can close above that with strong volume, it opens the door to a move toward $3,200,' Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, stated via email. 'On the downside, immediate support lies near $2,650, with stronger buying interest likely around $2,400, which coincides with the 100-day moving average,' he added. The market observer also used a technical indicator called the Relative Strength Index, which looks at an asset's recent price movements to get a better sense of whether that asset is underbought or overbought, to evaluate ether. 'Technical traders are also watching RSI, which is approaching overbought territory—suggesting momentum is strong but could be due for a cooldown if price stalls below $3,000.' Tim Enneking, managing partner of Psalion, offered a similar take on the matter. '$2,850 is the next key level which we are barely below now. That would push the current price back to early February in terms of the last time ETH was above $2,800,' he stated through emailed input. 'Once ETH pushes above that (and I think it will quite soon, maybe even today), $3,000 becomes a major line of resistance,' Enneking noted. 'If ETH can push through that (less clear), $3,100 will also be tough. If ETH takes that out, it's pretty clearly sailing until around $3,450.' Grant Tungate, head of business development for Blockforce Capital, also weighed in on this situation. 'The key zone resistance zone we are watching is 2800-2850. On a failure we are watching for the 200 day moving average at 2657 to act as support,' he stated via email. 'On a move higher we see the next resistance zone around 3000,' Tungate added. Armando Aguilar, an independent cryptocurrency analyst, offered his two cents on what ether prices could do in the near future, highlighting several areas of both support and resistance. 'Ethereum has been on a hot streak this week. Having touched $2.4k to now trying to break above $2.8k,' he clarified through emailed responses. 'Resistance levels stand at $2,820, if breached, we could see ETH cruise to low $3k territory. If the low $3k territory is breached, ETH could see mid-January 2025 levels at $3.3k - $3.4k," stated Aguilar. 'Support levels are in the mid $2.6k range, if support is unable to hold, we could see ETH retrace to mid $2.5k, followed by low $2.4k range."
Forbes
4 days ago
- Business
- Forbes
Ether Prices Reach Highest Since February As ‘Perfect Storm' Fuels Rally
Ether prices rose above $2,800 to their highest in over three months. Ether prices have been on fire lately, rising to the most since February on Tuesday, June 10, as the digital currency benefited from a 'perfect storm' of bullish factors, according to Douro Labs CEO Mike Cahill. Delving into what he meant when using that description, the analyst stated via email that 'ETH's rally is being driven by a perfect storm of ETF optimism, improved macro sentiment, and growing confidence in Ethereum's role as foundational financial infrastructure.' Several other analysts also highlighted similar factors when explaining the cryptocurrency's recent upward price movement, and amid this bullish backdrop, ether rallied to roughly $2,835.00 close to 8:15 p.m. EST, according to Coinbase data from TradingView. At this point, the digital asset was trading at its highest since on or around February 21. Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, spoke to these developments, indicating through emailed commentary that 'Ethereum's rally has been fueled by growing optimism around a potential spot ETH ETF approval, which has brought renewed investor attention to the asset.' He emphasized the key role played by this positive expectation, stating that 'The biggest driver behind ether's move above $2,800 is renewed speculation around a spot ETH ETF approval.' Ether Staking Hits Record High Several analysts, including DiPasquale, pointed out that the amount of ether tokens devoted toward staking recently reached its zenith, a development that many market observers have singled out as being highly bullish. Alex Lin, cofounder and general partner at venture capital firm Reforge, weighed in on this matter, claiming through email that after the U.S. Securities and Exchange Commission clarified via a statement that 'ETH staking does not classify as a security, we saw an all time high of nearly 35 million ETH (~28% of total supply) staked, locking up a significant portion of circulating ETH and creating supply pressure.' The TikTok influencer who goes by Wendy O also commented on this matter, stating via email that "Staked Ethereum hits new recent ATH of 28% of the supply being staked, to me this indicates renewed long term interest in Ethereum as those staking Eth may expect positive price action in the near future, so they are placing their 'bets' Now." She also emphasized the progress the SEC has been making in terms of providing the crypto markets with regulatory clarity, writing that 'At the SEC Crypto Task Force Roundtable, the conversation was focused on Ethereum and Atkins welcomed staff clarification that roles like miners, validators, and staking providers are not securities actors, this also tells me we may expect to see the Ethereum spot ETFS soon add staking.' DiPasquale offered his views on this robust staking activity, elaborating on its implications for the broader global asset markets. 'The total amount of ether being staked recently hit an all-time high, which signals growing long-term confidence in the Ethereum network and steady demand for yield-generating assets in a stabilizing macro environment,' he stated.
Forbes
27-05-2025
- Business
- Forbes
Ether Prices Rallied 50% In A Month As ETF Staking Optimism Fueled Gains
Ether prices have risen sharply over the last month, climbing roughly 50% as the digital currency benefits from bullish factors including anticipation surrounding the approval of rules that would allow spot-based ether exchange-traded funds to offer staking. The world's second-largest cryptocurrency by total market capitalization reached $2,713.78 today, according to Coinbase figures from TradingView. This compares to an intraday high of roughly $1,800 that the digital asset attained approximately one month ago on April 27, additional Coinbase data from TradingView reveals. 'Ether's rally has largely been driven by renewed optimism around a potential spot ETH ETF approval, which caught many investors off guard,' Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, stated via email. 'The shift in regulatory tone — especially the SEC's engagement with issuers — triggered a sharp short squeeze, as ETH had been one of the most heavily shorted large-cap tokens in recent months,' he continued. 'That initial move was then reinforced by broader market strength, improved risk sentiment, and ETH's relative underperformance earlier in the cycle, which made it a natural catch-up trade," DiPasquale claimed. The TikTok influencer who goes by Wendy O also weighed in on the recent applications requesting that spot-based ether ETFs offer staking, stating through email that these are the reason why the digital currency has been enjoying notable gains as of late. Other analysts offered differing explanations. George Kailas, CEO of credited a short list of bullish factors with fueling ether's recent upward movement. 'As we've discussed before, I think cryptocurrencies as a whole have become the most popular way to trade risk, especially given the favorable regulatory environment providing high upside and more limited downside than a growth stock that could be directly impacted by tariffs,' he via email. 'The Pectra Upgrade is positive signaling at the right time. A fairly substantial update to everything from scalability, to security and staking efficiency,' said Kailas, 'Which in turn attracted heavy ETF flows.' 'And all of this is amplified by the GENIUS Act,' he stated, which drew more investment dollars to cryptocurrencies in general. However, Kailas noted that the price movement created by the market's reaction to Pectra combined with this legislation to make ether look rather compelling to investors. Tim Enneking, managing partner of Psalion, also shed some light on the situation, stating through email that 'ETH has just been hopelessly lagging BTC and most of the market.' 'ETH needs to essentially double without BTC moving at all simply to get to its ATH from almost three years ago," he added, emphasizing that 'Meanwhile, BTC is up 70% from its last ATH.' 'ETH developers had become complacent (arrogant?) because the Ethereum blockchain was so successful. However, that complacency led to challengers, even EVMs, catching up and, in many cases, outperforming Ethereum,' stated Enneking. 'More recently, however, ETH developers have felt the heat and have begun to innovate better and faster. The pace and substance of upgrades have increased – and I would submit that is what is moving the price,' he said. 'However, ETH has a *long* way to go to retake the blockchain lead, especially given that its 'dominance' has plunged from around 30% to less than 10.'
Forbes
22-05-2025
- Business
- Forbes
Bitcoin Could Test $120,000 In A Matter Of Weeks, Says Analyst
Bitcoin could next approach the $120,000 level. Bitcoin prices, which managed to set multiple records on Wednesday, May 21, could test the $120,000 level in the coming weeks, according to technical analysis provided by hedge fund manager Joe DiPasquale. Earlier in the day, the digital currency surpassed set a fresh high above $109,000, before surpassing $110,000 close to 7:30 p.m. EST, Coinbase data from TradingView reveals. The cryptocurrency did not stay above $110,000 for long, and was trading closer to $109,300 at the time of this writing, additional Coinbase figures sourced from TradingView show. Amid these latest price movements, DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, shed some light on the digital asset's short-term outlook. 'On the upside, $112,000 is the next psychological resistance, but if momentum continues, we could see a test of $120,000 — which aligns with longer-term Fibonacci extensions,' he stated via email. 'At these levels, price action is likely to be volatile, so watching ETF flows and funding rates will be just as important as the charts,' the market observer added. 'If momentum holds and we continue to see strong ETF inflows and a supportive macro backdrop, Bitcoin could plausibly test the $120,000 level within weeks, not months," he clarified, offering a more concrete timeline for when the digital currency could reach this height. 'These upside moves tend to accelerate when resistance levels are cleanly broken, especially with sidelined capital getting pulled in. Of course, that path won't be linear — pullbacks are healthy — but the structure suggests we're still in the early stages of this breakout.' Tim Enneking, managing partner of Psalion, also weighed in, offering his perspective on the markets through emailed commentary. 'The new BTC ATH, coming on the same day that fiat markets were hammered because of the difficulties with the US T-bill debt auction, is monumental,' he stated. 'The positive correlation between BTC and US equities markets has been weakening since early April and it was basically totally broken today,' Enneking noted. 'This most recent period could be historic: the beginning of the real perception of BTC as a 'haven' by the tradfi space, finally taking up a theme that has been sung by the digital asset space for more than a decade,' he said. 'In addition, the new ATH and the slow-and-steady climb to that level, mean that $100k has now been turned into very firm support,' Enneking clarified. 'And because the price peaked at only just above the January ATH, it means that $110k represents fairly serious resistance." 'Rather than being range-bound between these two levels, however, I think the climb will continue for the foreseeable future as more and more corporations, US states and countries elect to treat BTC as a reserve asset,' he predicted. The TikTok influencer who goes by Wendy O also offered her views, identifying key levels of support and resistance she is watching. 'We saw Bitcoin break its previous all time high at ~$109,600 and hit $109,700 Yesterday, 5/20/2025 Bitcoin had its highest daily close at ~$106,700 and the highest week close at ~$106,400. Right now I'm watching support at $102,000 and resistance at $110,000,' she stated earlier this evening. 'I do believe this was fueled by the GENIUS Act passing the first round at the Senate, Trump's memecoin holder experience 5/22/2025 and JD Vance speaking at Bitcoin 2025. It is rumored that both events will have announcements made,' the influencer added.
Forbes
20-05-2025
- Business
- Forbes
Bitcoin Trades Near Multimonth High As Growing Demand Fuels Gains
Bitcoin prices reached a nearly four-month high this weekend and then managed to retain most of those gains today as the digital currency benefited from strong tailwinds in the form of growing demand and improving sentiment. The world's most prominent digital currency surpassed $107,000 last night, according to Coinbase data from TradingView. At this point, it was trading at its most since reaching an all-time high on roughly January 20, additional Coinbase figures from TradingView reveal. Since rising above $107,000 this weekend, the cryptocurrency has retreated somewhat, but it was still trading north of $106,200 at the time of this writing. When asked what caused these latest gains, several analysts pointed to evidence of the growing interest of investors. Julio Moreno, head of research for CryptoQuant, spoke to this, stating via Telegram that 'It seems the demand for Bitcoin remains strong.' 'In the futures market traders are opening long positions, which imply higher demand for Bitcoin. This is evident in the open interest of Bitcoin increasing as prices gained,' he emphasized, pointing to the chart contained below: Bitcoin open interest CryptoQuant 'On the spot market, Bitcoin demand in the US is still growing, evident in the positive Coinbase Bitcoin price premium,' Moreno added. Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, also weighed in on what drove bitcoin's recent upward price movement, stating that 'risk assets are seeing renewed buying interest. Spot BTC ETF flows have stayed strong, and there's been a noticeable uptick in institutional engagement,' he stated, emphasizing that these factors are all signs of increasing demand. Brett Sifling, wealth manager for Gerber Kawasaki Wealth & Investment Management, provided his input, emphasizing that the mindset of investors has been changing as of late, causing them to become more interested in so-called risk assets. 'It seems that investor sentiment has changed quite rapidly since the recent sharp correction that we experienced due to the volatility from tariffs and U.S. politics,' he stated via email. 'We believe that Bitcoin has rallied on the back of renewed optimism for risk-on assets, which can be confirmed with the stock market turning green on the year," said Sifling. He elaborated on some positive developments that might be making market participants feel more optimistic. 'I believe Bitcoin investors are excited about the prospect of new regulation being set in the United States, with a catalyst this week as lawmakers discuss the GENIUS act. While this would create a regulatory framework for stablecoins, it's a step in the right direction of Trump's promises to make the U.S. a leader in the crypto world." 'It was also nice to see Coinbase added to the S&P 500 last week, even if it was on the heels of a massive data breach that is affecting their customers,' he added.
