The US elections have finally ended after crowning Donald Trump as its next president. As a pro-crypto supporter, Trump is renowned for supporting the cryptocurrency domain. As a result, his announcement of becoming the 47th US president was met with great vigor. The market also responded positively to this change, with Bitcoin soaring past $75K for the first time, and Ethereum surging to 10%. Here’s how high ETH may rise by the end of this week.
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Ethereum Rises 10%: What’s Happening
The US elections have come to a historic end after Donald Trump was selected as their ultimate leader. Trump, known for his pro-crypto stance, has overtaken the crypto market. His crowning as the next US president was pivotal to the market, with Bitcoin soaring past $75K, leading the altcoin market to rally remarkably well.
Per the latest post by Santiment, Ethereum, which had long been consolidating, finally broke from its spell and rose 10% to hit $2800. The portal noted how ETH has spiked more than 10% in the last 24 hours, with its price exceeding $2850. The token’s market value has also increased by 13.37%. In addition to this, BTC/ETH metrics have also surged to 0.038%, up by 8.5% in the last 24 hours.
ETH has risen by more than 10% in the past 24h, with the price exceeding $2,850, and its market value has increased to 13.37%. The ETH/BTC has risen above 0.038, up 8.5% in 24h. The DeFi sector has risen by 13.59%, and LSDFi and LRTFi have risen by 22.71% and 15.26%. pic.twitter.com/IVXHwS3VQr
— Wu Blockchain (@WuBlockchain) November 7, 2024
If Ethereum continues to follow this trajectory, the market may document a notable ETH surge where the token may finally trade beyond the $3000 mark.
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The Token’s Price Prediction For The Weekend
Ethereum (ETH) is currently trading at $2837. Per CoinCodex, Ethereum may note a slight decline of 1% to trade at $2,810 by November 10.
However, the token may resume its surge again by the end of this month to hit a new price mark of $2919.
“According to our current Ethereum price prediction, the price of Ethereum is predicted to rise by 5.79% and reach $2,919.43 by December 7, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 69 (greed). Ethereum recorded 17/30 (57%) green days with 3.47% price volatility over the last 30 days. Based on the Ethereum forecast, it’s now a good time to buy Ethereum.”
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