Is Ethereum (ETH) Gearing Up for a $10,000 Run? Whales Think So

TLDR:

• Ethereum price predictions suggest ETH could surpass $10,000
• Whales are accumulating Ethereum-based altcoins like Rollblock
• Rollblock is in its 7th presale, trading at $0.0315 and has raised over $4.51 million
• Ethereum is consolidating gains above $2,580 resistance
• ETH could gain momentum if it clears the $2,650 resistance zone

Ethereum, the second-largest cryptocurrency by market capitalization, is currently in a consolidation phase above the $2,580 resistance level.

This comes as price predictions suggest the digital asset could potentially surpass the $10,000 mark in the future. Meanwhile, large investors, commonly referred to as “whales” in the crypto space, are showing increased interest in Ethereum and Ethereum-based altcoins.

ETH Price at Coingecko

As of October 18, 2024, Ethereum is trading above $2,600 and the 100-hourly Simple Moving Average. Technical analysis indicates a bullish trend line forming with support near $2,600 on the hourly chart. The cryptocurrency seems to be facing resistance around the $2,650 level, which represents a key hurdle for further upward movement.

If Ethereum manages to break above the $2,650 and $2,680 resistance levels, it could potentially target the $2,750 mark. On the other hand, if it fails to clear these resistances, a decline towards the $2,570 support zone is possible.

The Ethereum network itself continues to develop and gain traction in the market. Investors are closely monitoring Ethereum price predictions, with some viewing the current pricing as a potential opportunity for long-term investment. The increase in funding rates and open interest suggests a more bullish outlook on price increases.