Ethereum Foundation has made significant moves in recent hours. According to analyses, the foundation transferred 1,200 ETH to its grant provider wallet, and last month, a wallet named “Grant Provider” sold 1,700 ETH for 2.7 million USDC. Additionally, according to Lookonchain, the Ethereum Foundation transferred 75 ETH worth $148,000 to the “0x180c” wallet. Arkham Intelligence also reported that the foundation transferred 1,066 ETH from the wallet “0x9eE” to a new multi-signature wallet. Although the real purpose of the transfer is unclear, Ethereum’s price has been fluctuating in recent days, trading below $2,000 at the time of writing. Moreover, BlackRock, the world’s largest asset manager, took a step towards an Ethereum ETF by submitting an application to the U.S. Securities and Exchange Commission for iShares Ethereum Trust. This development had a short-term impact on Ethereum prices, but prices returned to previous levels.
Is Ethereum moving?
Ethereum (ETH) price is relatively stable against Bitcoin (BTC), and its movement is crucial for the revival of the altcoin market. According to technical analysis, Ethereum’s movement within the ascending triangle could provide positive momentum, but there is also a risk of rejection around the $2,000 level.
This could have a negative impact on altcoins and temporarily pause the bull market. On the other hand, considering Ethereum’s specific impact on certain altcoins, projects like Curve (CRV) and Arbitrum (ARB) are expected to experience positive price movements. Curve, as an altcoin dependent on Ethereum, is following an upward trend, while Arbitrum, as a Layer 2 solution within the Ethereum ecosystem, is showing significant activity. The performance of these altcoins can be considered essential indicators reflecting Ethereum’s overall market influence.
The asset may return from $1,850!
Ethereum entered a correction phase after reaching the $2,100 resistance last Friday, experiencing a 7% decline in value this week. In the current scenario, a move towards the key support at $1,850 for ETH seems possible. However, if this support level is reached, buyers may plan their next moves to break the $2,100 level. In the long-term view, Ethereum staying within the rising triangle highlights the possibility of continuing the upward trend on higher timeframes and the potential for an eventual breakout.
Ethereum’s Future: Surprising Predictions by Google Bard and the Journey to 2024!
Advancements in Artificial Intelligence (AI), especially through platforms like Google Bard, showcase the potential to analyze price trends of assets like Ethereum. According to Alphabet’s AI platform Bard, Ethereum’s potential price range at the beginning of 2024 could be between $2,500 and $4,500. This prediction is based on the belief that technical indicators, ETF approval, community support, institutional interest, and network developments may support a possible upward momentum. However, the AI robot emphasizes that due to the inherently volatile nature of the crypto market and its dependence on external factors, the actual price of Ethereum at the beginning of 2024 could significantly differ from the suggested range. Bard highlights key factors that could influence Ethereum’s future price, including significant historical price movements, the approval of a spot ETH ETF, and the role of a strong community. On the other hand, technical indicators show that Ethereum is in an upward trend, suggesting that this momentum may continue. Additionally, referring to a survey conducted in October 2023, average price predictions for Ethereum at the end of 2023 are $3,026 and at the end of 2024 are $7,184.
Conclusion on Ethereum Price Outlook Overall, transfers made by the Ethereum Foundation, fluctuations in Ethereum’s price, and Google Bard’s 2024 predictions are generating significant interest in the cryptocurrency market. However, as emphasized in the article, the crypto market is uncertain and subject to change. The future of Ethereum will be shaped by various factors, including technical analysis, ETF approval, and community support.
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