The price of Ethereum has surpassed the $4,000 mark for the first time since late 2024, opening a new uptrend with a potential target of $20,000.
When the ETH price breaks through a critical level, analysts and traders believe the growth trend could continue due to strong institutional demand and the phenomenon of short squeeze. The opportunity to reach a new historical peak is becoming clearer in the coming weeks.
MAIN CONTENT
Ethereum surpasses $4,000 for the first time since late 2024, opening a new bullish channel.
The maximum potential price target for ETH is $20,000 according to experts.
Buying pressure from institutions and short squeeze helps ETH establish a new historical peak.
How has Ethereum established a bullish price channel after surpassing $4,000?
The price of Ethereum just broke through the $4,000 level, marking the first time since late 2024. According to analyst Merlijn, the current ETH price is opening up a new bullish price channel, positively confirming the long-term bullish trend.
The breaking of this important threshold not only creates positive momentum but also attracts large capital flows from institutional investors, further strengthening the bullish price channel. This indicates that ETH is in the process of establishing higher support levels, preparing for further advances in the near future.
Who forecasted the price target of $20,000 for Ethereum and what is the basis of the analysis?
Expert Merlijn has assessed the potential for ETH to reach a maximum target price of $20,000. This price is significantly far from the previous peak, reflecting strong growth expectations based on technical signals and institutional cash flow.
Merlijn's analysis is based on the current price channel that ETH is establishing, along with driving factors such as large-scale short squeeze activity. This move helps to push prices quickly forward, while also demonstrating market confidence in Ethereum's future.
What factors could help ETH reach a new peak in the next 1-2 weeks?
Trader BitBull points out that strong buying pressure from institutions and significant short squeeze phenomena have driven ETH back to a leading position. If the weekly closing price is above $4,100, the likelihood of establishing a new ATH within 1-2 weeks is very high.
The price of Ethereum is under positive pressure from large cash flows and the short squeeze technique, facilitating the rapid establishment of a new historical peak.
BitBull, Cryptocurrency Trader, August 2024
The previous peak was recorded in November 2021 at around $4,875. With current signals, the argument for a new bull run is reasonable, providing many profit opportunities for investors in the short and medium term.
Can Ethereum surpass its historical peak from 2021, and what are the conditions for this to happen?
The historical peak of Ethereum at approximately $4,875 has existed since November 2021. Currently, if the price maintains a weekly close above $4,100, the likelihood of ETH breaking the old peak is very high.
Key conditions include sustained strong buying pressure from institutions and Ethereum whales, along with demand from the short squeeze phenomenon, increasing liquidity and pushing prices towards new ATH levels.
What should investors pay attention to while Ethereum is in this bullish phase?
In the context of ETH currently forming a bullish price channel and positive signs from institutions, investors need to consider risk management, setting appropriate stop-loss levels to protect their capital.
Closely monitoring trading movements through key resistance levels, especially the price range from $4,100 and above, will help effectively capitalize on the bullish trend while avoiding unwanted strong fluctuations.
Frequently Asked Questions
When did the price of Ethereum surpass $4,000?
The price of ETH surpassed the $4,000 mark for the first time since late 2024, setting the stage for a new uptrend.
What is the highest price target for Ethereum currently?
Experts forecast that ETH's potential target could reach $20,000 based on the bullish channel analysis and institutional cash flow.
What are the reasons behind Ethereum's recent price surge?
Support from large short squeeze activities and buying pressure from institutions contributes to the rapid increase in ETH price.
How long could Ethereum take to reach a new peak if it maintains a price above $4,100?
If the weekly closing price is above $4,100, ETH could establish a new historical peak in the next 1-2 weeks.
What should investors do as ETH’s price rises?
Investors need to carefully manage risk, closely monitor resistance price levels, and set appropriate stop-loss points.
Source: https://tintucbitcoin.com/ethereum-huong-toi-dinh-moi-20-000-usd/
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