Entering November priced at $3,856, Ethereum (ETH) nearly broke below the $3,000 mark on November 4th. Representing a solid buying zone, the dip attracted new investments, pushing ETH\u2019s price above $3,400 during the rebound.<\/p>\n
Although ETH, alongside most other cryptocurrencies, is showing weakness today, analysts believe there\u2019s a case for a stronger rally. The upcoming \u201cFusaka\u201d network upgrade and increasing whale and institutional activity could drive ETH to a new all-time high (ATH) before the year ends.<\/p>\n
Let\u2019s examine the factors driving the optimistic sentiment among experts and see why ETH can be a worthwhile investment this Q4 despite the current bear market.<\/p>\n
This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page.<\/strong><\/em><\/span><\/p>\n Following a massive $507 million spot ETF outflow in this month\u2019s first week, Ethereum experienced a significant dip. Between November 2nd and 4th, it lost 20% of its value, declining from $3,911 to $3,098.<\/p>\n However, it made an immediate recovery the following day, pushing past its 200-day Simple Moving Average (SMA) of $3,335. Often seen as a bullish long-term growth signal, ETH\u2019s show of strength motivated whales to step in.<\/p>\n According to Arkham data, November 5th saw Justin Sun stake 45,000 ETH, valued at $154.5 million at the time. The next day, Funstrat\u2019s Tom Lee acquired $70 million worth of ETH, even though ETH started sliding toward $3,300.<\/p>\n Although ETH is currently trading 14.5% below its 50-day SMA of $3,981, traders seem confident in its short-term potential. Its long\/short ratio of 2.8 shows that only 26.3% of traders are shorting the token.<\/p>\n For ETH\u2019s technical outlook to decisively confirm an uptrend, it needs to turn the resistance at $3,572 into support. According to technical analyst Trader Tardigrade, this could confirm ETH\u2019s readiness to move beyond its 50-day SMA, into the $4,000 territory.<\/p>\n Identifying a bullish recurring pattern, he expects ETH\u2019s V-shaped recovery to result in a strong upward move. The potential leap to $4,000 could set the stage for ETH\u2019s move into the $6,000 range for the first time.<\/p>\n Beyond its improving technical outlook, ETH is attracting attention with its upcoming Fusaka upgrade. Arriving on December 3rd, it\u2019s introducing major architectural improvements that could resolve Ethereum\u2019s scalability and efficiency issues.<\/p>\n According to Ryan Adams, Fusaka will help Ethereum Layer 2s, like Base, reach tens of thousands of transactions per second (TPS).<\/p>\n This boost in speed and capacity could make Ethereum more appealing for app developers and everyday crypto users. As a result, ETH could benefit from increased demand, further supporting the analyst\u2019s case for a move toward $6,000. For more insights, read our full Ethereum price prediction report<\/a>.<\/p>\n While ETH\u2019s upcoming network improvements are making headlines, a project that focuses on boosting Bitcoin\u2019s (BTC) capabilities is quietly gathering early-stage funds. So far, Bitcoin Hyper\u2019s<\/a> (HYPER) Layer 2 solution and utility token have attracted over $26 million in presale.<\/p>\n Its mission is to bring Bitcoin\u2019s TPS count from the current average of five to several thousand. To achieve that, its Layer 2 will utilize rollups to process bundled transactions, which will still settle on Bitcoin\u2019s mainnet.<\/p>\n Beyond making BTC transactions faster and more affordable, the project uses a Solana Virtual Machine (SVM) to make them more programmable. As a result, BTC could soon become an asset usable across a variety of DeFi protocols and modern dApps.<\/p>\n Impressed by the project\u2019s scope, expert Borch Crypto believes its native token, HYPER, is one to closely monitor this year.<\/p>\n
\nMajor Players Back ETH as Its Technical Outlook Improves<\/h2>\n
Bitcoin Hyper Presale is Stealing the Spotlight With Its Bitcoin Layer 2 and $26M Raised<\/h2>\n