Ethereum Price Could Surge 252% to $12,000 According to Analyst
Ethereum (ETH) may experience a significant price increase, potentially reaching $12,000, according to analyst Javon Marks. Key points include:
- ETH could rise over 252% from current levels based on technical chart patterns.
- The 1.618 Fibonacci retracement level indicates a bullish breakout is possible.
Source: Javon Marks
Whale Accumulation of Ethereum
World Liberty Financial has accumulated over 41,000 ETH recently, totaling 58,711 ETH valued at approximately $194 million. Additionally, whales have increased their holdings by over 330,000 ETH worth more than $1 billion in the past week.
- Nearly $2 billion of ETH has been withdrawn from exchanges in the last month.
- Critical resistance levels for a bullish breakout are between $3,360 and $3,450.
- A breakout above $4,000 could lead to a rally towards $7,000.
Source: Arkham Intelligence
Source: Ali Martinez
Ethereum Foundation's DeFi Initiative
The Ethereum Foundation plans to transfer 50,000 ETH (~$150 million) to a new multisig wallet to engage with the DeFi ecosystem. Hsiao-Wei Wang confirmed that the transfer process may take a few days due to signing delays.