Ethereum can grow by more than 170%

Dan Tapiero, CEO of the investment company 10T Holdings, believes that Ethereum (ETH) ETH $3,138.09 Bridged Ether (StarkGate) 1.07% Market capitalization $0.26 billion VOL. 24 hours $1.34 billion is significantly undervalued in the current market and has the potential to grow by 171% of its current value.

It is noted that such expert conclusions are due to decentralized finance (DeFi) projects that are created on the ETH blockchain and can thrive under the favorable policies of US President Donald Trump.

As you know, Trump, who is due to take office in January 2025, has promised to fire the current chairman of the US Securities and Exchange Commission, Gary Gensler, who is widely considered to be an opponent of cryptocurrencies.

«Ethereum is too cheap. It will start growing from here. Gensler and his team actually destroyed DeFi in the US in 2022−2024. Now everything has changed. The long life of DeFi in the United States. A breakout of $ 4,000 will mean a move to $ 8,000 next year,» Tapiero said.

The investor predicts that Ethereum will remain a strong ecosystem due to the active use of the network.

Tapiero shared a chart where ETH is holding support at the 100-day moving average on the daily chart, which is considered a positive signal.

«The chart looks strange, but I can’t resist. Ethereum is about to take off. It’s just too cheap right now. Don’t pay attention to the hype on social media. ETH has already achieved the network effect. It is a key asset in the digital ecosystem along with BTC,» the expert says.

At the same time, analyst Benjamin Cowen is reconsidering his assumption that ETH could fall to its logarithmic trend line, which could bring its value down to $ 1,000.

«The most important question seems to be: will ETH 'come home'? If ETH rises above its support during the bull market on the weekly closes, then I must have been wrong. With ETH/BTC at 0.035 BTC, it’s worth starting to hedge positions (as I’ve already done and mentioned),» Cowen said.

He also added that ETH could confirm that the market has bottomed out against Bitcoin if it can regain a key support level.

«I advise you to keep an eye on ETH/BTC. If it rises above the 50-day simple moving average (around 0.039 BTC), there is a good chance that ETH/BTC has reached its bottom,» the analyst said.

The day before, analysts at The Block reported that the ratio of Ethereum’s capitalization to Bitcoin fell to 24.52%, the lowest since 2021.

As a reminder, after Donald Trump won the presidential election, the price of the Solana cryptocurrency rose to $ 200 for the first time since April 2024.

Also, on November 7, the US Federal Reserve decided to cut the interest rate by 0.25%, which led to the rapid growth of bitcoin.

Earlier, popular crypto analyst Benjamin Cowen said that based on the historical pattern of ETH bottoming out in the fourth quarter, he expects a significant drop in ETH, which could even go as low as $ 1,000.