A big rally is expected for Ethereum (ETH), which is approaching $ 2,900 due to the impact of the elections in the USA.
Known as the pioneer of altcoins, ETH did not lag behind in the crypto market, which rose after Trump won the elections. ETH increased by nearly 10 percent in the last 24 hours and touched $ 2,880. The leading altcoin has recorded 25 percent growth since the beginning of 2024.
Analysts argued that ETH, which is far from its all-time high, is undervalued. According to analysts, a significant rise may occur in ETH.
Crypto analyst Byzantine General addressed his followers via X on November 6. The analyst stated that he expected a “wild rally” for ETH.
Byzantine general used the following statements;
“I think ETH could start a big rally.”
Notable comments for Ethereum (ETH)
Data shows that the Ethereum (ETH) price exceeded $2,800 for the first time since August. According to Cointelegraph, the rise in ETH surprised crypto investors.
Analyst Miles Deutscher noted that ETH outperformed BTC and SOL on the 24-hour period. Sharing on X, Deutscher said:
“Understand the incomprehensible”
Another crypto analyst, Benjamin Cowen, stated that ETH has a value below its potential against BTC. Cowen argued that the Simple Moving Average (SMA) in the ETH/BTC parity is an important indicator. According to the analyst, the uptrend may intensify if the SMA in the parity in question breaks positively.
ETH/BTC parity reached its lowest level in recent years at $0.03496 on November 6. ETH, which has been on the rise due to the influence of Trump, anchored at $ 0.038 in BTC parity.
Crypto investors predicted that ETH presented a potential buying opportunity and that the rises would continue.
Making a striking price prediction, Ryandcrypto said:
“ETH rising to $5,000 will be the most important rally of all time.”
Tapeiro, on the other hand, claimed that the ETH price is at a very low level and will rise above 8 thousand dollars next year.
