Top Analyst Indicates Ethereum May Rally If It Breaks $2,330 Resistance
Bitcoin (BTC) approaches $90,000 while Ethereum (ETH) consolidates above $1,500. This disparity in price movements prompts discussions about Ethereum's future as Bitcoin shows bullish momentum.
Ethereum Bull Run Potential
Analyst Ali Martinez indicates that Ethereum could start a bull run if it breaks the resistance level at $2,330. Key points include:
- Ethereum trapped between $1,500 and $1,650 for the past week.
- $1,600 is a near-term resistance point.
- If ETH holds above $1,600, it may rally towards $2,000 by April.
- Failure to break resistance could lead to a drop towards $1,200.
Bitcoin Surges Past $87,000
Bitcoin's surge above $87,000 reflects investor interest in decentralized assets amid rising tariffs and economic uncertainty. Highlights include:
- Investors view Bitcoin as a refuge during global instability.
- Political tensions surrounding interest rate cuts impact market sentiment.
- Bitcoin may act like a risk asset initially but stabilizes as a safe haven like gold over time.
Currently, ETH trades at $1,584, down over 3% for the week and nearly 70% below its all-time high from the last bullish cycle.