Ethereum's Prime Buying Moment: $3,500 Target

The noteworthy breach of the $2,000 threshold is being hailed as a "prime buying moment" for Ethereum, as noted by renowned crypto trading expert Ali Martinez in a recent post. Martinez highlighted that traders have amassed a significant volume of tokens between $1,900 and $2,100, with approximately 5.85 million crypto wallets holding 43.8 million ETH. This accumulation, according to the analyst, could establish a "significant support level for years ahead," suggesting that there may still be ample time for investors to enter the Ethereum market before a potential surge in its price.

Ethereum Eyes $3,500 Amid Strong Performance and SEC Engagement

Martinez previously emphasized that Ethereum's sustained weekly candlestick close above $2,150 could pave the way for an exciting uptrend, setting ambitious price targets at $2,600 and potentially even $3,500, based on chart pattern analysis.

At present, Ethereum is trading at $2,257.70, reflecting a 4.20% increase in the last 24 hours, a 10.04% gain over the past seven days, and an impressive 22.66% rise in value over the past month. The cryptocurrency has not only surpassed its yearly high but also appears poised to reach the set price targets, especially amidst positive market sentiment and as the US Securities and Exchange Commission (SEC) initiates a comments period for a potential Ethereum exchange-traded fund (ETF).