MJP –
A crypto expert has identified several market circumstances, signs, and trends that, when combined, suggest an Ethereum rally may be in the works.
Based on several current market factors, Real Vision analyst Jamie Coutts thinks Ethereum (ETH) might be about to have a significant price increase.
Coutts has spoken about the increasing momentum in the cryptocurrency industry on the social networking site X, which may mean that the price of the Ethereum smart contract platform is going to skyrocket soon.
A lot of momentum is needed for ETH to go up, according to the crypto analyst. While a rally is in the works, Ethereum will need a spike in activity to take off.
We are seeing the lowest fees in four years.
A favorable aspect is:
With a 200 percent increase in daily active users (DAUs) over the previous year, layer-2 (L2) adoption has been robust. The levels of global liquidity are rising.
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In terms of drawbacks:
Lower fee expectations and the increasing knowledge that L2 value accrual is harming the L1 (layer-1) long-term are likely influencing certain forward cashflow predictions.
The current market price of Ethereum (ETH) is 2,775 USD as of this writing.
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