CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinGape 2025-01-09 20:55:11

Analyst Predicts New Ethereum Price ATH Amid Fidelity’s $103m ETH Transfer

Ethereum price has been on the edge lately with recent Fidelity Digital Assets deposit of $103.55 million worth of ETH into Coinbase speculating sell-off concerns. The transactions, executed through Cumberland, have drawn attention from analysts, with some predicting a new all-time high (ATH) for Ethereum price despite this move. This comes amid Fidelity reiterating its position on Ethereum’s fundamentals in the future, thus paving way for a possible ETH price rally to ATH in 2025. Fidelity’s $103M ETH Transfer Raises Investor Optimism In two transactions, Fidelity has transferred a total 31,249 ETH to Coinbase which is equal to $103.55 million. The last transaction of 11,250 ETH which was worth $36.9 million occurred only after the announcement. These changes are being made by the crypto arm of the asset management firm while Ethereum continues to hold ground amidst bearish trends. This comes after Fidelity’s Look Ahead report highlighted on the strong fundamentals of Ethereum, a factor that is positive for the Ethereum price. The report also points out that Solana is rapidly expanding, however, Ethereum remains more attractive to developers, has a higher TVL, and more stablecoins. Ethereum Price Eyes New All Time High The current price action of Ethereum suggests that the market is at the beginning of the uptrend, since the price has been making higher highs and higher lows on the long-term chart. As per the analysts, there are major support and resistance levels that could be the key to determining the price of Ethereum in the coming months. Ethereum price has retraced from the recent high of $3926 and is currently trading around the support area of $3280 to $3183. This pullback is viewed as a correctional move before the bulls can be expected to come into play again. Crypto analysts have suggested that the ETH/USD pair must hold between $3.5k and $4k to ensure the continuation of the uptrend. Some key ETH price resistances have been identified at $3,926, $4,614, and a possible Ethereum price breakout to $5,100 to $6,450.If bears take control of market, the crypto analyst has laid down potential support levels at $2,937 and $2,400. Institutional Activity Fuels Long-Term Confidence Concurrently, the institutional interest in Ethereum has been gradually increasing, which is supported by Fidelity’s transactions. The ability of Ethereum to be accessed via exchange-traded products is an edge it has over other blockchain networks such as Solana. Still, Fidelity’s report points out that Solana has been growing since it offers relatively low costs and faster transaction times. However, it suggests that a significant part of Solana’s income is generated from memecoins, which may not be very effective during bear markets. On the other hand, Ethereum is believed to be less influenced by speculation, which makes it more suitable for investors with a longer horizon. The report also highlights the upcoming Prague/Electra (Pectra) upgrade of Ethereum that focuses on increasing the platform’s scalability and user protection. Although the upgrade may not necessarily cause a rise in the ETH price in the short term, it will help improve the network’s capabilities. The post Analyst Predicts New Ethereum Price ATH Amid Fidelity’s $103m ETH Transfer appeared first on CoinGape .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta