Is Ethereum About To 'Suck Liquidity' Out Of Other Cryptos And 'Have A Run?' Here's What 5 Analysts Are Saying

Five popular cryptocurrency analysts remain bullish on Ethereum ETH/USD after the cryptocurrency rebounded on Monday night.

What Happened: Kaleo, a pseudonymous technical analyst who has more than 453,000 followers on Twitter, said that Ethereum -- which he calls “the king of the layer 1 altcoins” -- has a chance to suck liquidity from the rest of the market and have a run of its own.

ETH is so bullish after the most recent flush it’s not even funny.

We’ve seen a major rotation play among the alt L1s the past few months.

It only makes sense that the king of the L1s finally has a chance to suck liquidity from the rest of the market and have a run of its own.

— K A L E O (@CryptoKaleo) December 6, 2021

The Crypto Dog, another Twitter-popular cryptocurrency analyst, told his almost 702,000 followers on Twitter that he believes Ethereum will touch new all-time highs by Christmas.

$ETH new highs by Christmas I reckon

— The Crypto Dog (@TheCryptoDog) December 6, 2021

Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe, said he believes that the best moment to buy altcoins is in December and he is watching Ethereum.

#Ethereum.

— Michaël van de Poppe (@CryptoMichNL) December 6, 2021

See Also: How To Buy Ethereum (ETH)

Cryptocurrency analyst Benjamin Cowen also highlighted his bullishness on Ethereum by tweeting an emoji of a rocket along with the words “$ETH.”

$ETH

— Benjamin Cowen (@intocryptoverse) December 6, 2021

Justin Bennett, a cryptocurrency analyst and trader with over 93,000 Twitter followers, has advised investors that there is no need to panic because Ethereum is down 11.5% from its all-time high. However, he urged them to stay cautious.

He noted that the Ethereum-Bitcoin BTC/USD pair is in “full beast mode” and climbing.

$ETHBTC in full beast mode.

Now above 0.082 and climbing.

The objective is 0.10-0.11, so there's still room to move higher in the next few weeks.

The objective from the January breakout is 0.16.$ETH $BTC https://t.co/KRcVm0EXGW pic.twitter.com/rPC5sjwwkO

— Justin Bennett (@JustinBennettFX) December 6, 2021

Why It Matters: Ethereum, the world’s second-largest cryptocurrency by market capitalization, has outperformed apex cryptocurrency Bitcoin year-to-date following the rise in popularity of non fungible tokens (NFTs).

Ethereum’s year-to-date gains are 498.03%, compared to Bitcoin’s gains of 74.09% for the same period. However, Ethereum is currently down 9.8% from its all-time high of $4,859.50 touched last month.

Price Action: Ethereum is up 7.5% during the past 24 hours, trading at $4,380.21 at press time.

Read Next: Bitcoin Reigns Supreme, Still Accounts For 46% of the Total Value of Crypto Markets: Survey