{"id":641583,"date":"2024-09-13T06:30:00","date_gmt":"2024-09-13T06:30:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=641583"},"modified":"2024-09-12T17:46:39","modified_gmt":"2024-09-12T17:46:39","slug":"ethereum-to-4k-again-analyst-predicts-bull-run-as-key-metric","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-to-4k-again-analyst-predicts-bull-run-as-key-metric\/","title":{"rendered":"Ethereum To $4K Again? Analyst Predicts Bull Run As Key Metric Approaches Critical Level"},"content":{"rendered":"

Ethereum appears to have now seen a notable shift in its major metric. Particularly, a recent CryptoQuant analyst, Burak Kesmeci report, highlighted<\/a> the potential significance of Ethereum\u2019s current funding rates.<\/p>\n

The analyst pointed out that similar patterns in the past have been followed by substantial price increases, suggesting that Ethereum might be on the verge of a new surge.<\/p>\n

Related Reading: Analyst Predicts $4,000 Mid-Term Target for Ethereum, Declares End to ETH Correction<\/a><\/div>\n

Calm Before The Storm?<\/h2>\n

Funding rates are a key future market metric, indicating the balance between long and short positions. When the funding rate stays low for an extended period, it can signal market indecision or calm, but if the rate rises sharply, it often precedes a strong price movement<\/a>.<\/p>\n

\"Ethereum
Ethereum Funding Rates. | Source: CryptoQuant<\/figcaption><\/figure>\n

According to the report by Kesmeci, Ethereum\u2019s funding rates have been hovering between 0.002 and 0.005, a relatively low level last seen in September 2023. The funding rate then spiked above 0.015, followed by a price rally<\/a> from $1,500 to over $4,000.<\/p>\n

The analyst further explored whether Ethereum\u2019s funding rate in September 2024 could signal a similar price movement. The current low funding rates have persisted for about a month, starting from August.<\/p>\n

This situation mirrors the period before last year\u2019s significant price surge. September and the final quarter have historically been pivotal times for crypto markets, often seeing increased trading volume<\/a> and price gains as summer ends.<\/p>\n

However, Kesmeci noted:<\/p>\n

\n

I can\u2019t say if history will repeat itself, but there\u2019s certainly a rhythm to it. We will wait for Ether’s funding rate to rise above 0.015 to see if the calm before the storm breaks. A move above this level in funding rates is crucial for tracking healthy increases during bull markets.<\/p>\n<\/blockquote>\n

How Is Ethereum Faring So Far?<\/h2>\n

While Ethereum hasn’t seen a further decrease following its low of $2,197 last month, the asset hasn’t seen a major price increase in the past weeks.<\/p>\n

Instead, ETH has continued to consolidate within a specific range. Following an attempt to create a new all-time high<\/a> back in March, trading above $4,000, ETH has seen a consistent decline ever since and has remained below $3,000 since August.<\/p>\n

\"Ethereum
ETH price is moving sideways on the 2-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

So far, the asset has declined 2.7% in the past weeks and has also seen a 0.7% increase in the past 24 hours. However, the asset remains below the $3,000 mark, currently trading for $2,331 at the time of writing.<\/p>\n

Related Reading: Ethereum Sees Massive Outflows from Derivatives: What Does This Mean For ETH?<\/a><\/div>\n

According to a recent post from a renowned crypto analyst, Alex Clay, on X, ETH might have ended its correction<\/a>. Clay noted that a “break above $2500 will confirm the beginning of the rally.”<\/p>\n

\n

#ETH<\/a>\/USD<\/p>\n

Imo we are at the end of the $ETH<\/a> correction\ud83d\udc81\u200d\u2642\ufe0f<\/p>\n

Looking for some consolidation above the Key Zone + 200 MA & 200 EMA confluence<\/p>\n

Break above $2500 will serve a confirmation of the beginning of the rally\ud83d\ude80#Ethereum<\/a> turned to be a heavy asset so $10k target is rather\u2026 pic.twitter.com\/jjGPPUHWE3<\/a><\/p>\n

\u2014 Alex Clay (@cryptclay) September 9, 2024<\/a><\/p><\/blockquote>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum appears to have now seen a notable shift in its major metric. Particularly, a recent CryptoQuant analyst, Burak Kesmeci report, highlighted the potential significance of Ethereum\u2019s current funding rates. The analyst pointed out that similar patterns in the past have been followed by substantial price increases, suggesting that Ethereum might be on the verge of a new surge. Related Reading: Analyst Predicts $4,000 Mid-Term Target for Ethereum, Declares End to ETH Correction Calm Before The Storm? Funding rates are a key future market metric, indicating the balance between long and short positions. When the funding rate stays low for an extended period, it can signal market indecision or calm, but if the rate rises sharply, it often precedes a strong price movement. According to the report by Kesmeci, Ethereum\u2019s funding rates have been hovering between 0.002 and 0.005, a relatively low level last seen in September 2023. The funding rate then spiked above 0.015, followed by a price rally from $1,500 to over $4,000. The analyst further explored whether Ethereum\u2019s funding rate in September 2024 could signal a similar price movement. The current low funding rates have persisted for about a month, starting from August. This situation mirrors the period before last year\u2019s significant price surge. September and the final quarter have historically been pivotal times for crypto markets, often seeing increased trading volume and price gains as summer ends. However, Kesmeci noted: I can\u2019t say if history will repeat itself, but there\u2019s certainly a rhythm to it. We will wait for Ether’s funding rate to rise above 0.015 to see if the calm before the storm breaks. A move above this level in funding rates is crucial for tracking healthy increases during bull markets. How Is Ethereum Faring So Far? While Ethereum hasn’t seen a further decrease following its low of $2,197 last month, the asset hasn’t seen a major price increase in the past weeks. Instead, ETH has continued to consolidate within a specific range. Following an attempt to create a new all-time high back in March, trading above $4,000, ETH has seen a consistent decline ever since and has remained below $3,000 since August. So far, the asset has declined 2.7% in the past weeks and has also seen a 0.7% increase in the past 24 hours. However, the asset remains below the $3,000 mark, currently trading for $2,331 at the time of writing. Related Reading: Ethereum Sees Massive Outflows from Derivatives: What Does This Mean For ETH? According to a recent post from a renowned crypto analyst, Alex Clay, on X, ETH might have ended its correction. Clay noted that a “break above $2500 will confirm the beginning of the rally.” #ETH\/USD Imo we are at the end of the $ETH correction\ud83d\udc81\u200d\u2642\ufe0f Looking for some consolidation above the Key Zone + 200 MA & 200 EMA confluence Break above $2500 will serve a confirmation of the beginning of the rally\ud83d\ude80#Ethereum turned to be a heavy asset so $10k target is rather\u2026 pic.twitter.com\/jjGPPUHWE3 \u2014 Alex Clay (@cryptclay) September 9, 2024 Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":641591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,136,6664,83531,8323,1946,91844,78803],"class_list":["post-641583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-altcoin-market","tag-crypto","tag-cryptoquant","tag-eth","tag-ethereum","tag-ethereum-market","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum To $4K Again? Analyst Predicts Bull Run As Key Metric Approaches Critical Level<\/title>\n<meta name=\"description\" content=\"Ethereum appears to have now seen a notable shift in one of its major metric. Particularly, a recent report by CryptoQuant analyst...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-to-4k-again-analyst-predicts-bull-run-as-key-metric\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum To $4K Again? Analyst Predicts Bull Run As Key Metric Approaches Critical Level\" \/>\n<meta property=\"og:description\" content=\"Ethereum appears to have now seen a notable shift in one of its major metric. 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These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum To $4K Again? 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