#ETH4500Next? Ethereum's current price is around $4,226, up 8.38% in the last 24 hours. The cryptocurrency has broken through the $4,200 resistance level, signaling renewed bullish momentum. Analysts predict potential gains in the $4,500–$5,000 range.
*Key Factors Driving Ethereum's Price:*
- *Institutional Demand*: Publicly listed companies have accumulated nearly 2 million ETH since June, using proceeds from multi-billion-dollar debt and equity offerings.
- *Technical Breakout*: Ethereum has broken free from a descending wedge pattern, accompanied by a surge in trading volume.
- *ETF Flows*: Spot Ether ETFs have attracted around $537 million in inflows over the past four trading sessions, indicating strong institutional appetite.
*Potential Targets:*
- *Short-term*: $4,400–$4,500
- *Medium-term*: $4,750–$5,000
- *Long-term*: $10,000 or higher, according to some analysts
*Support Levels:*
- *$3,470*: A crucial support level that Ethereum needs to hold to maintain its bullish structure.
- *$4,173*: A key support level that has served as a cushion for the price.
