All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- An analyst has observed that Ethereum (ETH) is forming a bullish setup that could send the price to a new all-time high.
- Chainlink (LINK) and VeChain (VET) have also been predicted to break from their current bearish phase to new highs.
According to CoinMarketCap, Ethereum (ETH) is the fourth most visited crypto on its platform behind Bitcoin (BTC), Solana (SOL), and Sui. Meanwhile, ETH is going through a bearish phase with 6% decline in the last 24 hours and 8% decline in the last seven days. At the time of writing, ETH was trading at $4,201. Fascinatingly, its daily trading volume was up by 138% with $43.7 billion changing hands.
Analyst Speaks on ETH, VET, and LINK
Commenting on the current market behavior, a renowned analyst identified as Michaël van de Poppe has hinted that the asset could bounce back soon. According to him, ETH is “gearing up for an explosive run”. Similar sentiment has been echoed by other analysts including Crypto Wolf. Earlier, Crypto Wolf predicted that the asset would fluctuate within the range of $4000-$5000 for the meantime. As indicated in our earlier discussion, ETH has been predicted to hit $10k in the long run.
Michaël van de Poppe’s prediction was not limited only to ETH. He also made a case for VeChain (VET). According to him, VET has recently been trading closer to an accumulation zone. He also hinted that a similar occurrence has historically resulted in a rally of more than 200%. Apart from this technical setup, the analyst pointed to the VeBetter 2.0 whitepaper as a key catalyst.
VeChain is about to break out upwards, based on TA (technical analysis). However, they’ve just released a new version of the Whitepaper for VeBetter where AI is being integrated within the ecosystem. They keep on evolving…When we’re talking about the case of a breakout, historically we’ve seen breakouts of more than 200% from this build-up. I’m sure it will be the same once the Weekly MA (moving average) is cracked.
As detailed in our recent news story, the whitepaper focuses on a crucial move into a more AI-focused society with B3TR being at the center. This transformation is expected to begin with the building of embedded intelligence. This would go through four phases namely: off-chain intelligence and social agents, on-chain intelligence and governance agents, personalized superintelligence, and data intelligence and monetization.
As noted in our last analysis, analyst Egrag Crypto has predicted that VET could hit $1 once it successfully repeats the 2020 market move. At the time of writing, VET was trading at $0.022 after declining by 6% in the last 24 hours and 4% in the last seven days.
Another coin Van de Poppe seems bullish on is Chainlink (LINK). The LINK/BTC pair was reported to have bottomed already. According to him, this currently has the best setup and could surge by 160% to hit 0.0004389 BTC. Currently, LINK is trading at $21, and it is down by 8% in the last 24 hours.
According to our recent analysis, LINK has the potential to break the $30 mark in the short to medium term. As also mentioned in our previous publication, LINK has been projected to trade at $52 by year’s end.
