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ETH price prediction: Ether targets $4,500 as the $4,200 support holds

Key takeaways

  • Ether has reclaimed the $4,300 level after briefly dropping to the $4,200 region on Tuesday.
  • The second-largest crypto by market cap could now surge past the $4,500 resistance level in the coming hours.

$4,200 support holds strong for Ether

The cryptocurrency market has had a positive start to the week but experienced a flash dump on Tuesday. Bitcoin dropped to the $110k region, prompting Ether and other major cryptocurrencies to underperform.

However, Ether defended the $4,200 support, with the coin forming a low at $4,211 a few hours ago. Ether, similar to Bitcoin, is now bouncing back from the dump and is currently trading above the $4,300 level.

Ether has maintained its price above $4k in recent days after hitting an all-time high of $4,953 in August. The strong support above $4k could indicate that Ether is not yet done with its rally and could experience a breakout soon. 

Ether eyes $4,500 amid bullish sentiment

 The ETH/USD 4-hour chart is bullish and efficient, as Ether has been performing well in recent days. The technical indicators suggest that the TLQ at $4,200 could serve as a springboard for Ether to rally higher in the near term.

The RSI of 50 shows that Ether’s bearish momentum is fading, with the bulls slowly gaining control of the market. The MACD lines are also about to converge in the bullish zone, showing that buyers are now in charge.

ETH/USD 4H Chart

If the recovery continues, ETH could surge past the high of $4,500 over the next few hours. An extended bullish run would see Ether hit the high of $4,656 before attempting to take out its all-time high.

However, if the correction goes deeper, ETH could take out the $4,200 support level before testing the low of $4.050 formed on August 20th.

The post ETH price prediction: Ether targets $4,500 as the $4,200 support holds appeared first on CoinJournal.

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Cboe to launch continuous Bitcoin and Ether futures in November

  • Cboe to launch continuous BTC and ETH futures on Nov. 10, pending regulatory approval.
  • Continuous futures last up to 10 years, removing frequent contract rollovers for traders.
  • Cboe expects new products to attract both institutions and retail crypto derivatives traders.

Cboe Global Markets announced plans to launch new “Continuous futures” for bitcoin (BTC) and ether (ETH), with trading expected to begin on November 10, pending regulatory approval.

The products are designed to resemble perpetual futures contracts that are widely traded on offshore exchanges, but with adjustments to align with US regulatory requirements.

What sets continuous futures apart

Unlike traditional futures, which require frequent rolling as contracts near expiration, Cboe’s Continuous futures are structured as single contracts that can last up to 10 years.

This design is intended to simplify position management for traders by removing the need to roll over contracts at regular intervals.

According to Cboe, the contracts will be cash-settled and linked to real-time spot market prices.

They will incorporate daily cash adjustments, supported by a transparent and replicable funding rate methodology.

This approach is aimed at creating a stable and reliable trading instrument for both institutional and retail participants.

Bringing perpetual-style futures to US markets

Catherine Clay, Global Head of Derivatives at Cboe, highlighted the growing popularity of perpetual-style futures in offshore markets.

She noted that Cboe’s introduction of a similar product within a regulated US framework would provide traders with greater confidence.

“Perpetual-style futures have gained strong adoption in offshore markets. Now, Cboe is bringing that same utility to our US-regulated futures exchange and enabling US traders to access these products with confidence in a trusted, transparent, and intermediated environment,” Clay said in a statement.

The contracts will be cleared through Cboe Clear US, a derivatives clearing organization regulated by the Commodity Futures Trading Commission (CFTC).

This ensures that the products fall under the oversight of US financial authorities, addressing one of the main concerns around offshore perpetual futures.

Cboe’s broader push into digital assets

Cboe, originally known as the Chicago Board Options Exchange, was the first US exchange to offer bitcoin futures in 2017.

However, the company suspended new contracts about two years later as the crypto market downturn reduced demand.

With the recent resurgence in digital assets and renewed bullish momentum in the market, Cboe has re-energized its efforts to expand crypto-related offerings.

The exchange has been particularly active in pursuing listings of exchange-traded funds (ETFs) tied to digital assets.

The addition of Continuous futures for bitcoin and ether reflects its strategy of broadening crypto derivatives available to US traders.

Clay added that Cboe expects the new products to attract a wide range of participants.

“We expect Continuous futures to appeal to not only institutional market participants and existing CFE customers, but also to a growing segment of retail traders seeking access to crypto derivatives,” she said.

By providing long-dated, perpetual-style contracts within a US-regulated environment, Cboe is positioning itself to capture both institutional and retail demand in the rapidly evolving crypto derivatives market.

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Alts today: Worldcoin rallies on Eightco backing, DOGE eyes ETF approval, FLOCK soars 150%

  • Eightco announced a $270M raise to fund the first-ever Worldcoin treasury.
  • An expert predicts a 93% chance of Dogecoin ETF approval this week.
  • FLOCK skyrockets after Upbit and Coinbase listings.

Altcoins displayed mixed performance on Tuesday as the broader market remained range-bound.

Worldcoin, Dogecoin, and Flock.io dominated fundamental and technical trends in the past 24 hours.

Eightco’s bold move into Worldcoin

WLD traded in the green today after gaining more than 50%.

It hovers at $1.92, with a 240% uptick in 24-hour trading volume confirming significant trader activity.

The altcoin turned bullish after public company Eightco confirmed a $250 million financing round dedicated to a Worldcoin (WLD) treasury strategy.

The firm revealed that it will use the placement’s proceeds to purchase the tokens, with plans to make Worldcoin the core pillar of its balance sheet.

Meanwhile, Worldcoin has attracted criticism due to its biometric verification, which requires iris-scanning.

Its team argues that the model guarantees security and aligns with the rising artificial intelligence technology.

Commenting on their pivot to Worldcoin, Eightco’s new CEO, Dan Ives, said:

The future of AI requires World to lead the way in this AI-driven Fourth Industrial Revolution. World is the internet of people. While AI gives us infinite abundance, World gives us infinite trust and authentication.

For context, Worldcoin rebranded to World in August 2024.

DOGE ETF approval imminent?

Dogecoin dominated meme coin trends once again, this time with crucial developments that hint at entry into the regulatory financial landscape.

According to Santiment’s analyst Brian Quinlivan, there’s a 93% odds that Rex-Osprey’s Dogecoin ETF gains approval and launches in the US this week.

Bloomberg ETF analyst made similar remarks last week, potentially fueling the rumors.

That will mark the first DOGE-focused exchange-traded fund in the American market.

The original meme token hovered at $0.2472 after gaining 4% in the past day.

While the current outlook suggests short-lived rallies, prevailing institutional traction remains crucial in transforming Dogecoin beyond its meme identity.

Nasdaq-listed CleanCore revealed a $175 million Dogecoin treasury last week, while Bit Origin confirmed plans to accumulate DOGE worth $500 million.

Thus, Rex-Osprey’s latest DOJE news grabbed attention.

If approved, the ETF would allow institutional investors to invest in the meme token through brokerage accounts.

That’s essential for players who want to participate in cryptocurrency without the technicalities of buying, holding, or wild volatility.

A Dogecoin exchange-traded fund will likely trigger significant gains for the altcoin.

That would potentially open the path to the highly sought-after $1 in the coming months, especially if other companies adopt similar cryptocurrency strategies.

FLOCK skyrockets 150%

FLOCK led today’s market recovery with a more than 150% price increase in the past 24 hours.

The robust rally came after the decentralized AI trading platform gained key integration on leading cryptocurrency exchanges Upbit and Coinbase.

The alt recorded a sharp jump after the listing before retracing to $0.4354.

Meanwhile, the 3,000% surge in 24-hour trading volume signals robust optimism, likely as the Coinbase and Upbit communities interact with the new token.

Nevertheless, FLOCK exhibits massive volatility, hinting at further declines as the hype cools before establishing a decisive trajectory.

The post Alts today: Worldcoin rallies on Eightco backing, DOGE eyes ETF approval, FLOCK soars 150% appeared first on CoinJournal.