Tom Lee Describes Ethereum's New All-Time High as a 1971 Gold Moment, Predicts 'Very High Probability' of Surpassing Bitcoin
Tom Lee's Predictions: Wall Street strategist Tom Lee compares Ethereum to the 1971 abandonment of the gold standard, predicting a high likelihood that Ethereum will surpass Bitcoin in market value.
BitMine's Strategy: BitMine Immersion Technologies aims to acquire 5% of Ethereum's circulating supply, having increased its holdings significantly to become the largest Ethereum treasury globally.
Market Reactions: Following dovish remarks from Federal Reserve Chair Jerome Powell regarding potential interest rate cuts, cryptocurrency markets rallied, with Ethereum surging nearly 10% and Bitcoin rising over 2%.
Technical Analysis Insights: Analysts suggest that Ethereum is on the verge of breaking an eight-year downtrend against Bitcoin, with predictions of significant returns as institutional interest in Ethereum grows.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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