Crypto Comedy: Will Ethereum Hit $3,500 or Just Keep Playing Hide and Seek?

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Well, well, well! The cryptocurrency market is like a rollercoaster designed by a mad scientist! 🎢 Ethereum (ETH), Cardano (ADA), and Cosmos (ATOM) are the stars of this wild show, all vying for a mega price rebound. Ethereum’s got its eyes on $3,500, Cardano’s dreaming of $1.20, and ATOM is aiming for a cool $15. Investors and traders are glued to their screens, popcorn in hand, waiting for this bullish comeback! 🍿

Ethereum Price Prediction: Can ETH Reclaim $3,000 and Surge Higher?

Ethereum is like that kid in gym class trying to break the jump rope record—consolidating in a tight range and attempting to leap over the critical $3,000 resistance level. Over the past 30 days, ETH has been bouncing around like a ping pong ball, fluctuating between $3,300 and $2,700. But hold onto your hats, folks! Recent on-chain data suggests a breakout is on the horizon! 🌅

ETH Breakout soon? Ethereum Liquid Index (ELX). Source: Brave New Coin

Exchange outflows are hitting a 23-month high! Over 768,500 ETH were withdrawn in a single day. That’s like a bank heist, but with less drama and more digital coins! Historically, big outflows mean strong accumulation—less selling pressure and a setup for a price rally. Who knew crypto could be so thrilling? 🎉

From a technical perspective, ETH is facing strong resistance at $2,800. If buyers can push above this level, we might just see a rally toward $3,200. The 50-day Exponential Moving Average (EMA) is like a cheerleader, reinforcing that upward momentum. If ETH breaks above $3,000, it could be off to the races toward $3,500—something we haven’t seen in months! 🏇

ETH/USD daily chart. Source: TradingView

But wait! If Ethereum can’t hold above $2,700, it might just tumble down to $2,591. With institutional interest rising and scarcity increasing due to those exchange outflows, Ethereum is set up for a breakout. If the bullish momentum keeps going, ETH could reach $3,500 in no time and aim for $4,000 later in 2024. Traders, keep your eyes on that $2,800 resistance—it’s the key to the kingdom! 🔑

Cardano (ADA) Price Struggles: Can It Rebound to $1?

Cardano is like that friend who keeps losing at poker—down 35% in the past 30 days! But don’t count ADA out just yet! Its long-term potential is still strong, thanks to ongoing ecosystem developments. The upcoming Chang hard fork is expected to enhance Cardano’s governance model, which could attract more users and developers. Talk about a glow-up! 💅

On-chain metrics show that big investors are accumulating ADA. Wallets holding over 1 million tokens have increased by 3% in the last two weeks. Historically, this kind of accumulation has been a precursor to bullish reversals. So, ADA might just be gearing up for a comeback! 🎈

ADA has key resistance at $0.80. If it can break above that, it’s likely to push to $1. If it breaks $1, it could go to $1.20—just like a game of leapfrog! But if it fails to break resistance, it might drop to $0.70 before any recovery. Yikes! 😱

If momentum builds, ADA could hit $1.20 in Q2. But if it doesn’t reclaim $0.80, it could be a long, sad story. If the wider market does well, our ADA price prediction is strongly bullish. And if the proposed ADA Spot ETF gets approved in 2025, we might just see Cardano soaring to the moon! 🚀

Cardano Spot ADA ETF Approval Incoming?

Grayscale Investments is expanding its cryptocurrency offerings by filing for a spot Cardano (ADA) exchange-traded fund (ETF). According to a document posted by the New York Stock Exchange

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2025-02-13 11:11