The winner of the day was Ethereum (ETH): Opposite to ETFs!

Although Spot Bitcoin (BTC) ETF was approved, it was confusing that Ethereum (ETH) was the one making the difference. Spot BTC ETFs, which the crypto industry has been eagerly awaiting for months, were approved last night. While a large portion of crypto investors were actually expecting an incredible increase in BTC, this scenario happened in ETH. Based on the 490-day falling trend, the ETH/BTC parity gave great hope for altcoins. You may be interested in: Things are going wrong in Render (RNDR): Confusing decline! It started to dominate Bitcoin! ETH, which has not been able to clearly penetrate BTC since the beginning of September 2022, seems to put an end to this trend soon. Currently, ETH/BTC parity in the 0.05624 band can move towards 0.06001 - 0.06586 - 0.07198 - 0.07943 and 0.08555, respectively, with the trend break. While the flow of money to altcoins increases in this process, possible corrections of BTC will not affect altcoins as much as before. If the plot progresses in this way, we can really witness a rally in altcoins.
It breaks the resistances one by one! ETH, which has been moving in an upward direction since hitting $ 2150, left the resistance levels behind in volume, giving confidence to both the altcoin investor and the industry. If the appetite level in buy side transactions continues at the current level, the ETF price may climb towards 2712 - 2784 and 2891 dollars, respectively. The break of $ 3000, which is a critical region in terms of psychological and technical aspects, may light the fuse of the ETH rally. Ethereum Classic (ETC), the hard fork of Ethereum (ETH), exploded and dominated the market after a long time. The approval of ETFs, which the crypto industry has been clinging to for months, has directly activated Ethereum. Ethereum, which managed to gain nearly 15 percent in value against Bitcoin in this process, became a driving force in the altcoin market. Especially the explosion of Ethereum Classic after a long time gave the green light for the altcoin season. Percentage in the last 24 hours. Incredible increase in a very short time! Exploding with the acceleration of Ethereum, ETC reached a market value of four billion dollars. The Ethereum hard fork, which increased by 42.74 percent within minutes, is currently traded at $ 27.28. If this positive momentum on the Ethereum side continues, we can observe a movement for ETC towards the levels of 28.17 - 30.23 and 33.50 dollars, respectively. Factors such as BTC continuing to dominate Ethereum, the spread of sector-based fud news, or ETH falling below $ 2500 may gradually pull ETC to lower levels. In such a scenario, there may first be a pullback to $26.96 and $24.97. Afterwards, 22.50 – 21.19 – 20.13 and 19.03 dollars can be followed as support levels, respectively.
Ethereum (ETH), which started to attack after dropping a needle below a critical support zone, further increased the curious wait in altcoins. ETH, which dropped to $2165 in line with fud rumors about ETFs, quickly recovered. The leader of the altcoins, which turned its course upward, gaining strength from the positive news flow, climbed up to 2260 dollars. Even though altcoins have not been able to fully accompany this rise for now, expectations are increasing day by day. When can the expected glorious rise season in altcoins start, led by Ethereum? You may be interested in: What were the prominent cryptocurrencies of the day? January 15, 2024 It's on its way to the decision stage! ETH, which started to rise just below the minor support level, is moving towards a critical region. If ETFs are approved and BTC dominance decreases, 2300 – 2377 – 2407 – 2502 – 2547 and 2600 dollars can be targeted for ETH, respectively. In this process, the range of 2377 – 2407 dollars will be decisive. The duration of persistence above the red area will be the determining factor for the bull season in altcoins. No approval or postponement of ETFs, BTC retreating to $40,000 or BTC dominance moving towards 60 percent will increase outflows from ETH. In such a scenario, the levels where a buying reaction can be expected will be 2203 - 2126 and 20256 dollars, respectively. If $2056 is lost, there may be a sudden drop to around $1800. Cryptocurrency analyst and trader Credible Crypto stated that Ether could reach a five-digit price. In his statement on X, Trader said that his 2024 target for Ether is at least $ 10,000. This prediction claims that the asset will experience a 343 percent rise. Credible Crypto suggested that the maximum price target could be $20,000, an increase of 786 percent. Credible Crypto said that looking at the recent price of Ether, although Ether has fallen to $2,100, there may be a correction towards $2,160 again before making a move to overcome the $2,400 resistance level. Research company Santiment recently said that cryptocurrency whales are rapidly accumulating Ether. According to Santimant's report, the top 150 crypto wallets currently hold 56.25 million Ether, the highest level ever recorded. Stock market wallets also reached their lowest level in the last five years. The decreasing balance in the exchanges means that the whales have no intention of selling. At the time of writing, Ether is trading at $2,249, according to CoinMarketCap data.