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Ark Invest CEO Says Odds of Bitcoin Reaching $1.5M Have Soared: Here’s Why

Mark Brennan
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Ark Invest CEO Says Odds of Bitcoin Reaching $1.5M Have Soared: Here’s Why

Cathie Wood, CEO and CIO of Ark Invest, has reaffirmed her bullish outlook on Bitcoin.

In a recent Big Ideas 2025 presentation, she stated that the odds of Bitcoin’s price reaching $1.5 million in a bull case scenario have significantly increased. Wood highlighted the growing institutional adoption of Bitcoin as a key factor driving this heightened probability.

More Confidence in $1.5 Million Bitcoin Forecast

According to Wood, institutional investors increasingly view Bitcoin as an essential asset in their portfolios due to its unique return and risk profile. The continued maturation of the crypto market has made Bitcoin a more attractive option for large-scale investors seeking diversification.

Notably, from ARK Invest’s Big Ideas 2025 report, the firm maintains its ambitious Bitcoin price targets for 2030. The analysis projects three potential scenarios:

  • A bear case where Bitcoin reaches $300,000, reflecting a 21% CAGR (Compound Annual Growth Rate).
  • A base case price target of $710,000, with a 40% CAGR.
  • A bull case scenario where Bitcoin soars to $1.5 million, requiring a 58% CAGR.

“Many know us for our bull case of $1.5 million. We actually think the odds have increased that this will be the correct number,” Wood remarked. 

For context, Bitcoin is worth $95,500 today. Reaching $1.5 million demands a price appreciation of 1,470%. Ark Invest expects this growth to materialize over the next five years.

Notably, the firm is pinning these hopes on Bitcoin’s increasing role in institutional investment, digital gold adoption, emerging market safe-haven demand, nation-state treasury holdings, corporate treasuries, and on-chain financial services.

It expects institutional investments to account for up to 6.5% of the global market portfolio in the bull case. Meanwhile, Bitcoin’s penetration as a digital gold asset could reach 60% of gold’s market cap.

Bitcoin projection from Ark Invest report
Bitcoin projection from Ark Invest report

Ark Invest’s View on Stablecoin

Beyond Bitcoin, Wood also discussed the rapid expansion of stablecoins. She highlighted that their total transaction value reached approximately $15.6 trillion last year—surpassing both Visa and Mastercard. 

In particular, the transaction value of stablecoins was approximately 119% of Visa’s and 200% of Mastercard’s in 2024. 

Meanwhile, Wood clarified that traditional payment processors still handle a higher volume of transactions. Yet, the sheer monetary value flowing through stablecoins demonstrates the accelerating shift toward a decentralized financial ecosystem. 

She described this transformation as a fundamental restructuring of global finance, with crypto assets increasingly dominating.

Top Analyst Says Cardano is Breaking Out Again: Here’s the Next Target to Expect

Albert Brown
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Top Analyst Says Cardano is Breaking Out Again: Here’s the Next Target to Expect

Analyst Ali Martinez has identified a breakout signal on Cardano (ADA) chart, highlighting the continuation of its recent bullish comeback.

Cardano (ADA) experienced notable volatility over the past week, with a surge pushing its price above $0.80 on February 11 before retracing slightly. Earlier in the week, ADA fluctuated between $0.65 and $0.72, with a brief dip before the rally.

Amid this performance, market analyst Ali Martinez has identified a falling wedge breakout on ADA’s price chart, suggesting a bullish reversal. The chart showed ADA trading within a descending triangle before breaking above the upper trendline. 

Confirmation of the breakout came as ADA closed a strong candle above the resistance trendline. Based on this pattern, Martinez projected that if momentum holds, ADA could rally toward $0.83.

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Cardano chart by Ali Martinez

However, it is important to note that false breakouts could occur, making it essential to watch for other indicators like RSI and MACD.

Notably, the Relative Strength Index (RSI) stood at 40.31, slightly above the oversold threshold of 30, signaling weak momentum but some buying interest. If RSI moves past 50, it would indicate stronger bullish momentum. 

The Moving Average Convergence Divergence (MACD) indicator remained in bearish territory, with the MACD line below the signal line. However, decreasing red histogram bars suggested weakening selling pressure. A bullish trend reversal could materialize if the MACD line crosses above the signal line.

BINANCE:ADAUSDT Chart Image by stephanieolivia346
Cardano 1-day chart

Cardano Whale Accumulation Trends

Elsewhere, market intelligence firm Santiment reported an 11% rise in Cardano’s market capitalization. This increase coincided with continued accumulation by large ADA holders.

Wallets holding at least 1 million ADA have steadily increased their holdings since November 2023, adding 1.41 billion ADA. This accumulation now accounts for 2.35% of Cardano’s total supply, suggesting growing confidence among institutional participants and whales.

Santiment noted that ADA’s price had surged 107% since the accumulation trend among large holders began.

IntoTheBlock data provided further insights, revealing that long-term ADA holders expanded their positions by 1.81%. This shift indicated a strengthening commitment among investors holding assets for over a year.

VanEck Research Shows US States Could Buy Bitcoin Worth $23B with Strategic Reserves

Mark Brennan
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VanEck Research Shows US States Could Buy Bitcoin Worth $23B with Strategic Reserves

A recent analytical report from prominent asset manager VanEck asserts that US states could buy up to 247,000 BTC if their reserve bills pull through.

Matthew Sigel, the head of digital assets research at VanEck, revealed this staggering statistic in a recent report today. The piece collated the 17 states that have introduced bills to create a strategic Bitcoin reserve and considered how much reserve funds they proposed for acquiring the asset.

US States Could Buy 247,000 BTC

Particularly, the report shows that 17 states introduced bills to buy and hold Bitcoin through state reserve or pension funds. However, only 16 are still alive, as a House bill to buy Bitcoin in Wyoming failed to garner enough votes to pass.

Furthermore, four of the active legislations are either newly introduced or have yet to be deliberated on. The states in this category include Massachusetts, North Dakota, Iowa, and North Carolina.

Others in states like Oklahoma, Ohio, New Hampshire, Utah, Texas, Illinois, Kentucky, Maryland, New Mexico, South Dakota, and Montana have reached committee hearings. Utah is the only state to have advanced its bill after a favorable vote.

Meanwhile, a chart following the report shows how much each state would allocate to Bitcoin purchases and their corresponding value. Notably, VanEck drew the figures from their estimated funding size and percentage of Bitcoin allocation according to their individual proposals.

Estimated US State Bitcoin Purchase per VanEck

Their estimated Bitcoin acquisition totaled 242,787 BTC, worth $23.54 billion. According to Arkham, this figure is above the United States’ 198,109 BTC stash.

Moreover, Sigel noted that the estimated figure is independent of allocations from US-based pension funds, which will likely be appreciated if these states adopt Bitcoin.

Supply Shock Imminent

Interestingly, the proposed purchases will add to the growing number of institutional Bitcoin acquisitions. Furthermore, the escalating demand for the limitedly capped crypto asset has sparked speculation of an impending supply shock.

A recent analysis shows that Bitcoin is growing increasingly scarce by the day. Inflows from US Bitcoin spot ETFs and other demand sources and miners’ meager output daily are far apart, and most of the assets are already in the hands of individuals and entities.

The X post highlighted the depleting nature of Bitcoin’s supply, even in the over-the-counter (OTC) desk. With over 140,000 BTC allegedly left, ETF inflows and MicroStrategy’s incessant acquisition could dry the supply up.

Moreover, analysis from Bitwise shows that 69.4% of the Bitcoins in circulation are in the hands of individuals. Hence, governments and private institutions looking to acquire Bitcoin would have to wait for them to sell.

Analyst Eyes $800,000 Bitcoin Target, Says BTC Bull Run Yet to Begin: Here’s Why

Mark Brennan
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Analyst Eyes $800,000 Bitcoin Target, Says BTC Bull Run Yet to Begin: Here’s Why

A notable Bitcoin analyst believes the BTC bull run is yet to begin despite recent gains, expecting a further 742% gain this cycle.

Despite the ongoing market turbulence, Bitcoin (BTC) has come a long way from its price position exactly a year ago. The premier crypto asset, which changed hands around $49,000 this time last year, currently trades for $95,031, reflecting an impressive 94% gain within this timeframe.

Interestingly, Bitcoin had earlier witnessed a much higher price point, when it soared to a new all-time high of nearly $110,000 in January 2025. With the recent pullback and extensive consolidation, several market participants question if the ongoing bull run has come to an end.

Bitcoin Bull Run Yet to Begin?

However, in an interesting twist to the narrative, AO, a notable Bitcoin analyst, believes the bull run has not even begun. The market commentator said this in his latest analysis of Bitcoin’s price movements, calling attention to Bitcoin’s entire history to present the bigger picture.

For context, the bigger picture indicates that BTC has still not recorded as much uptrend as previous bull runs despite the recent gains. AO’s chart highlights four bull runs that Bitcoin had undergone since 2010, each of which resulted in explosive gains and a new all-time high.

Bitcoin Bull Runs AO
Bitcoin Bull Runs | AO

Though BTC has claimed a new all-time high in this cycle, the latest gains do not match the ones observed from the previous four bull runs. “BTC is ready for a huge bull run,” the market analyst remarked, indicating within the chart that the asset is just about to begin the real uptrend.

One metric AO leveraged to prove his point was the Stochastic RSI indicator, singling out the %D line, which represents the moving average of the %K line, against some custom settings. Data from this indicator shows that the %D line has still not reached the levels it touched when Bitcoin was in a bull run.

For context, in each of the four previous bull runs, the %D line, under these custom settings, soared from the single-value region to levels close to 100. Currently, the line reads 6.62, suggesting that the market might not have entered regions typical of a bull run.

AO Sets $800,000 Target

However, AO expects the indicator to start moving toward these levels soon alongside Bitcoin’s price. In the chart, he sets a cycle top target of $800,000 for Bitcoin, which would represent a further 742% increase from the current price of $95,031. 

Nonetheless, this suggestion challenges the idea presented by several analysts. For instance, last October, market veteran Peter Brandt suggested that the Bitcoin top for this cycle could come in at $135,000. Meanwhile, just last week, Michaël van de Poppe predicted a possible run to $500,000.

However, data from AO’s chart confirms the trend of diminishing returns that has plagued Bitcoin over the past four bull runs. As a result, the asset has continued to see lower returns with each cycle. Notably, in the previous cycle, BTC saw a 758% increase from the cycle low to its top. The asset has already gained over 600% from the current cycle’s low.

Meanwhile, an $800K price would mark a 5,061% rise from this cycle’s low of around $15,000. While Galaxy Digital Founder Mike Novogratz sees Bitcoin going to $800,000, he does not expect this to occur in the current cycle, but in five to ten years. 

Most Memecoins Do Not Fall Under SEC Ambit: Commissioner Hester Peirce

Okoya David
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Most Memecoins Do Not Fall Under SEC Ambit: Commissioner Hester Peirce

SEC Commissioner Hester Peirce asserts that most memecoins do not fit into existing securities regulations.

Over the past year, memecoins have been the dominant driver of crypto activity as market participants chase the elusive dream of overnight wealth.

From the outside looking in, however, many have raised concerns about the volatile nature of these assets and the amount of money investors are losing in this high-speed crypto casino. Surely, they have to be breaking some regulations?

According to one SEC commissioner, however, if they are, it is likely not existing securities regulations.

Not an SEC Concern?

SEC Commissioner Hester Peirce has asserted that most memecoins do not fit into existing securities regulations and, as such, do not fall under the agency’s purview.

The regulator disclosed this when asked during a Bloomberg interview on Tuesday, February 11, whether memecoins launched by President Donald Trump and First Lady Melania Trump posed any hurdles to the agency.

“Many of the memecoins that are out there probably do not have a home in the SEC under our current set of regulations, and so again, if that’s something that Congress wants to address, they can do that. Maybe that’s something the CFTC wants to address, but many of those, I think, probably, are not within our jurisdiction,” she contended.

The statements from Peirce, who some have come to consider a crypto advocate within the SEC, is yet another instance highlighting the agency’s ongoing shift from the doctrines professed by former Chair Gary Gensler. He had asserted that most cryptocurrencies fell under the SEC’s jurisdiction.

Peirce has recently been appointed head of the SEC’s first-ever crypto task force by Acting Chair Mark Uyeda. 

The task force has been established to get the agency out of the perceived crypto regulatory quagmire left by the Gensler administration, which was accused of offering no clarity of how crypto assets fit into existing regulations while concurrently pursuing a barrage of enforcement actions—a strategy many dubbed regulation by enforcement.

Last week, Peirce noted that one of the task force’s primary goals was to clearly define what constitutes a crypto asset security to offer the industry clarity.

Despite Peirce’s stance on memecoins, the commissioner, during her interview with Bloomberg, reiterated her warning that the current administration’s push towards a more policy-driven approach did not in any way mean a “free-for-all.”

Expert Shares Crucial Metrics Necessary for Dogecoin Rally, with One Already in Play

Elendu Benedict
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Expert Shares Crucial Metrics Necessary for Dogecoin Rally, with One Already in Play

Prominent market analyst Ali Martinez has highlighted the crucial metrics that would steer another round of Dogecoin rally amid a sideways price trend.

As Bitcoin has failed to break back into price discovery, altcoins have looked choppy. The onslaught has not spared meme coin leader Dogecoin, which has recently faced mixed price actions.

Meanwhile, Dogecoin has found support around its current level after rejecting lower prices more than a week back. Data from TradingView shows that the meme coin has ranged between $0.2400 and $0.2700 since then, as market participants await its next course of action.

Notably, analyst Ali Martinez has acknowledged Dogecoin’s recent distribution, speculating an imminent tide drift. However, he mentioned catalysts to this course, with one already gaining momentum.

Dogecoin’s On-Chain Activities Hold Steady

The price of the leading meme coin has not just slowed down; on-chain activities in the Dogecoin ecosystem have consolidated with it. Martinez highlighted that key on-chain metrics such as daily active addresses, transactions, and whale activities are at a crucial level.

Dogecoin On-chain Metrics

Notably, these decisive on-chain activities were key in Dogecoin’s bullish outburst following Donald Trump’s win in November. Those, commingled with bullish macroeconomics, spurred the meme coin alpha’s surge to its December high of $0.4843.

As a result, Martinez has inferred that Dogecoin’s next rally depends on those factors. He suggested an uptick in these on-chain metrics would spark another round of upsides for the doggy-themed meme coin.

Meanwhile, one of the metrics has been gaining momentum lately. In a parallel tweet, Martinez highlighted that whales have started accumulating Dogecoin.

The analysis disclosed that after whales bought 750 million DOGE earlier, they acquired another 100 million DOGE 24 hours later. He highlighted that the surge in accumulation indicates investors’ growing demand and confidence in Dogecoin’s long-term prospects.

Likely Targets Upon Uptrend Resumption

Meanwhile, Martinez also predicted Dogecoin’s next target if it rebounds from current lows. The analyst stated in another commentary that the asset could imminently surge to $4 if it keeps holding the upper boundary of its multi-year ascending channel.

His chart shows that for DOGE to reach $4, it would first breach its 1.00 Fibonacci level at $0.7390. Notably, this crucial resistance lies close to its all-time high, and overcoming the level would be sufficient to push Dogecoin to the 1.272 Fibonacci level at $4.1038.

Dogecoin Ascending Channel

Moreover, Dogecoin has more upside potential. Analysts have predicted that the asset could reach $10 and as high as $23 this cycle. In the meantime, DOGE trades at $0.2534.

Shiba Inu Lead Hints at SHIB Metaverse Excitement and Major Developments Unveiling Soon

Abdulkarim Abdulwahab
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Shiba Inu Lead Hints at SHIB Metaverse Excitement and Major Developments Unveiling Soon

Shytoshi Kusama, the Shiba Inu lead developer, has hinted at upcoming developments following the recent collaboration with a government entity.

Kusama made this remark during a recent X Space titled “Trust Talks #4: Are Meme Coins Here to Stay?” 

The popular self-custody crypto wallet Trust Wallet hosted the session. Alongside Shiba Inu’s official X handle, the event also featured other prominent figures from the crypto space, including the official Floki account. The session attracted 18,700 community members.

During the live session, the co-host asked Kusama how the Shiba Inu ecosystem leadership is working to keep the community engaged and maintain its enthusiasm, given the intense competition in the meme coin space.

How Shiba Inu Keeps the Spirit Alive and Ever-Burning

In response, Kusama emphasized that SHIB is fundamentally different from other meme projects. “SHIB is a different beast altogether,” he said.

He explained that within the Shiba Inu community, the focus has been on developing the best technology to empower the network state efficiently. He pointed out that SHIB declared its sovereignty a year ago. 

Accordingly, the current goal is to build all the necessary technology for the network state to function. This is to ensure the community’s survival, not just for a cycle but for the next 100 years.

“By positioning ourselves as a state and creating the technology needed for that state to operate, we are able to build a powerful operating system,” he said. 

Kusama further explained that this approach enables anyone, anywhere in the world, to transition from Web2 to Web3. Furthermore, he noted that this strategy is not only laying a foundation for the Shiba Inu community to thrive but also creating something that the world can use at large.

According to Kusama, this sets Shiba Inu apart in the meme coin space. He emphasized that it’s not just about the hype. Notably, the hype will naturally follow as long as the community continues to create something with real utility. 

More Things On The Pipeline

Kusama went on to share that the team is continuously working on producing a variety of useful technologies and hosting events centered around TREAT, the newest token in the Shiba Inu ecosystem. The aim is to give TREAT to the community and offer real value.

In addition, he teased that the community could expect some exciting news about the SHIB Metaverse soon. Instead, he didn’t want to give away too much. Yet, Kusama hinted that this upcoming development would explain things in more detail.

“That is our focus, and it allows us to keep the community highly engaged,” he said. 

SUI Nears Pivotal Point: Can Bulls Drive Recovery to $4?

Albert Brown
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SUI Nears Pivotal Point: Can Bulls Drive Recovery to $4?

As the SUI price approaches a potential channel breakout, marking the end of its pullback phase, buyers are hopeful for a rally toward the $4 level.

Amid the recent crypto market pullback triggered by Bitcoin’s decline, SUI has struggled to overcome its local resistance. With a breakout on the horizon, SUI is losing critical momentum, potentially delaying its recovery.

Although the SUI project holds a market cap of $10 billion, it has experienced a 9.14% weekly loss. The question now is whether the breakout rally will be enough to recover the 7-day loss and trigger a new bullish run.

SUI Price Analysis Hints At Channel Breakout

On the daily chart, the SUI price shows a falling channel pattern. Within this pattern, SUI has dropped from its swing high of $5.13 to the 200-day EMA near the $3 psychological level.

COINBASE:SUIUSD Chart Image by Trojan69420

This decline wiped out more than 40% of its value in just three weeks. However, the recent bounce off the 200-day EMA and the psychological support at $3 suggests a potential breakout rally could be on the horizon.

Currently trading at $3.26, SUI has pulled back 1.82% intraday due to overhead supply. Nevertheless, the recent recovery has seen two consecutive positive candles, reflecting an 11% surge.

This indicates significant underlying bullish momentum in SUI’s price trend. Moreover, the MACD and signal lines are on the verge of a positive crossover, signaling a potential shift in trend momentum.

Given the volatility in the broader crypto market, a confirmed breakout from the falling channel could amplify buying pressure. This further bolsters recovery prospects for SUI.

SUI Price Target Points to $4

According to Fibonacci levels, the breakout rally from the channel will likely face resistance at the 50 EMA, which aligns with the 23.60% Fibonacci level. This level is near the $4 psychological mark, positioning it as a crucial resistance.

However, if the breakout fails to materialize, SUI may retest the 200-day EMA, with an increased risk of a breakdown. In this scenario, a drop below the $3 support level could push the price to the lower boundary of the channel near the $2.60 mark.

Trillion-Dollar Franklin Templeton Registers Solana Trust, Moves Closer to Launching Solana ETF

Albert Brown
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Trillion-Dollar Franklin Templeton Registers Solana Trust, Moves Closer to Launching Solana ETF

Trillion-dollar asset manager Franklin Templeton has taken a step toward launching a Solana exchange-traded fund (ETF) by registering Franklin Solana Trust in Delaware. 

This move places the global investment firm among a growing list of asset managers pursuing Solana-based investment products. The development comes on the heels of the U.S. SEC’s acknowledgment of multiple applications of Solana ETFs, signaling increased institutional interest.

Franklin Move to Join Solana ETF Race

The investment firm’s filing adds to a wave of interest from financial institutions exploring Solana ETFs. Franklin Templeton now aligns with other firms, such as Grayscale and Canary Capital, which have already initiated steps toward launching similar products.

If approved, the Franklin Solana Trust would seek to track Solana’s price movements. It would allow institutional investors to gain exposure to Solana through a regulated vehicle.

Long-term Enthusiasm For Solana ETF

In a statement from July 23, 2024, Franklin Templeton expressed optimism about the expansion of crypto ETFs. The firm highlighted Solana’s growing adoption and ongoing maturation.

Specifically, it noted Solana’s ability to overcome technological challenges while showcasing the benefits of high-throughput, monolithic blockchain architectures.

Franklin Templeton emphasized that, beyond Bitcoin and Ethereum, other key developments are driving the broader cryptocurrency market forward.

Solana ETFs Close to Approval

Notably, Franklin’s latest filing comes as the SEC acknowledged applications from asset managers Bitwise, VanEck, 21Shares, and Canary Capital on Tuesday. These firms submitted 19b-4 filings through the Cboe exchange, marking a critical step in the regulatory review process.

Meanwhile, the regulator’s acknowledgment does not imply approval but indicates readiness to assess the applications.

Furthermore, this news also follows the SEC’s decision to consider Grayscale’s amended 19b-4 application submitted through NYSE Arca.

A few months ago, the regulatory body had asked Cboe to withdraw VanEck’s Solana spot ETF application, citing classification concerns. The SEC views Solana as a security in certain contexts, raising regulatory challenges for asset managers seeking approval for Solana-based ETFs. 

Solana Price Action

Solana (SOL) is trading at $196.46, reflecting a 3.13% drop over the past 24 hours. Over the past week, the cryptocurrency has declined by 3.55%, signaling continued market volatility.

Ethereum at $2,600: Can Whales Push ETH Price to $3,000?

Albert Brown
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Ethereum at $2,600: Can Whales Push ETH Price to $3,000?

With another bullish failure in Ethereum, the chances of a triangle breakdown are growing. However, rising institutional support hints at a bounce back above $3,000.

As Bitcoin returns to the $95,000 mark, Ethereum faces a sudden pullback, now sitting at $2,600 amid growing bearish sentiment in the crypto market.

The pullback has raised concerns about a potential breakdown, but a bullish triangle pattern holds Ethereum’s fate. Will bears break down the triangle, leading to an extended correction, or will the growing institutional demand for Ethereum trigger a bullish reversal?

Downfall in Ethereum Puts Triangle Pattern in Focus

In the 4-hour price chart, the Ethereum price trend reveals a lower-high formation. This comes after the recent rejection near the 23.60% Fibonacci level at $2,894.

With the lower-high trend, a resistance trendline is generated. This forms a descending triangle pattern with the local support level at $2,582.

Ethereum Price Chart
Ethereum Price Chart

Currently, the pullback within the triangle starts with an evening star pattern near the overhead trendline. However, the bulls have managed to hold Ethereum prices near support, aided by the lower Bollinger Band.

The pullback has triggered a bearish crossover in the MACD and signal lines, while the Bollinger Bands reflect a sideways shift, signaling the coiling of trend momentum.

A breakout of Ethereum on either side of the triangle will likely lead to a high-momentum rally.

Ethereum Whales and Institutional Demand

As Ethereum sits at a crucial crossroads, whales are maintaining a positive outlook. A recent tweet from crypto analyst Ali Martinez highlights the growing demand for Ethereum, with whales purchasing 600,000 ETH in the past week.

Image

This is reflected in the balance of 10k to 100k ETH by holders, which has risen to 16.9882 million. Additionally, more than 1 million ETH has been withdrawn from exchanges over the past week.

With increasing demand from whales and declining supply on exchanges, the ETH price will likely make a bullish comeback. Institutional support is also on the rise for Ethereum.

Image

On February 11, U.S. spot Ethereum ETFs’ daily total net inflow stood at $12.5 million. While 8 out of 9 Ethereum ETFs registered a net-zero flow, BlackRock continues its buying spree.

The firm acquired $12.5 million worth of Ethereum to increase its cumulative net inflow to $4.44 billion.

WLF’s Growing ETH Holdings Nears $50M 

Amid the rising craze for Ethereum, World Liberty Financial makes another bullish move on ETH. Earlier today, WLF purchased 1,917 ETH tokens by exchanging 5 million USDC.

This spikes the institution’s Ethereum holdings to 18.52K ETH, worth $48.257 million. With the rising support of Donald Trump’s World Liberty Finance towards Ethereum, the market price of Ethereum is likely to catch up to the rising demand.

Screenshot 2025 02 12 at 12009 PM
Image by Spotonchain

ETH Price Targets: $3,500 or Lower Lows?

Despite short-term bearish pressure on Ethereum’s price trend, bulls are likely to regain control. Based on the Fibonacci levels, the triangle breakout will likely challenge the 23.60% Fibonacci level at $2,894.

This will act as the next neckline of a rounding bottom pattern. Optimistically, the breakout of this crucial resistance will likely propel Ethereum toward the 61.80% Fibonacci level near $3,500.

On the flip side, the crucial support remains at $2,509, followed by the $2,400 mark.

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