$ETH Ethereum is close to its all-time high (ATH). At the time of writing, the cryptocurrency is trading at $4,661. The all-time high for ETH, according to C***********p, was recorded on November 16, 2021, at $4,891. At the time of writing, the coin is trading only 4.5% lower.
Ether is rising due to record capital inflows into ETFs and interest in cryptocurrency from companies that are accumulating the coin for their reserves.
The market is experiencing a supply shortage. The number of available ETH on exchanges continues to decline. L*********n noted that traders who bet on a decline in the price of Ethereum are incurring multi-million dollar losses.
The son of the President of the United States, Eric Trump, has noticed the rise of ETH. In July, he gave a positive forecast for the coin, after which his father's company, World Liberty, began buying Ether. Eric Trump did not miss the opportunity to emphasize that he was right. In the crypto community, the president's son is known as an analyst whose forecasts should not be trusted 100%.
Against the backdrop of Ethereum approaching its ATH, members of the crypto community are sharing forecasts. Analyst Lark Davis saw a 'golden cross' in the MACD chart of the cryptocurrency. In his opinion, this position heralds the continuation of the coin's bull run.
Trader @MerlijnTrader is also anticipating the continued growth of ETH. In his opinion, the cryptocurrency may replicate the pattern of 2017. He believes that movement along the trajectory of previous years could lead Ethereum to parabolic growth.
Analyst Michael van de Poppe, for his part, warned that quick growth is often followed by corrections. In his view, ETH will not be able to avoid them. However, he believes in the overall continuation of the bull run and advises investors to use the correction to purchase coins.
