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Bullish
🚀 Ethereum Set to Hit $5,500—Short-Term Rally in Full Swing!
Crypto researcher Xanrox predicts a parabolic run to $5,500, a new all-time high for Ethereum. He also listed variables that might push ETH to this level.
Xanrox claimed in a TradingView article that banks and states purchasing Ethereum may push it to $5,500. He said ETH is in the US crypto reserve, which is good for the cryptocurrency. However, the analyst mentioned Ethereum ETFs as another potential driver of ETH demand.
He said institutional investors see ETH as the future of the crypto business, which boosts Ethereum's price. These institutional investors have been warming up to ETH amid hopes that SEC-approved ETFs would soon incorporate a staking function. These funds outperformed Bitcoin ETFs in daily flows for the first time last week.
In technical analysis, Xanrox is positive on Ethereum. He said the cryptocurrency is breaking out of an ascending channel with significant bullish momentum. Although ETH has surged this month to a six-month high, the expert said now is a good time to purchase.
He said Ethereum's pricing is mid-range. Thus, buyers may sell when ETH hits $5,500. Xanrox predicted an extended consolidation at $5,500 before the cryptocurrency rises. His graphic suggested Ethereum may reach $113,000 at some time.
Ethereum Will See Demand Shock
In an X post, Bitwise CIO Matt Hougan predicted a demand shock for ETH, which would drive the price up.
Matt Hougan anticipates increased demand. He stated that ETF investors' ETH-to-BTC holdings ratio is underweight.
The Bitwise CIO estimated that Ethereum ETFs and treasury corporations may buy $20 billion of ETH in a year, or 5.33 million ETH at today's pricing. The Ethereum network is predicted to create 800,000 ETH during the same timeframe, resulting in seven times more demand than supply.
Ethereum is now trading at $3,700, up in the previous 24 hours, according to CoinMarketCap.
#BTCvsETH #ETHBreaks3700 #CryptoClarityAct $ETH
Crypto researcher Xanrox predicts a parabolic run to $5,500, a new all-time high for Ethereum. He also listed variables that might push ETH to this level.
Xanrox claimed in a TradingView article that banks and states purchasing Ethereum may push it to $5,500. He said ETH is in the US crypto reserve, which is good for the cryptocurrency. However, the analyst mentioned Ethereum ETFs as another potential driver of ETH demand.
He said institutional investors see ETH as the future of the crypto business, which boosts Ethereum's price. These institutional investors have been warming up to ETH amid hopes that SEC-approved ETFs would soon incorporate a staking function. These funds outperformed Bitcoin ETFs in daily flows for the first time last week.
In technical analysis, Xanrox is positive on Ethereum. He said the cryptocurrency is breaking out of an ascending channel with significant bullish momentum. Although ETH has surged this month to a six-month high, the expert said now is a good time to purchase.
He said Ethereum's pricing is mid-range. Thus, buyers may sell when ETH hits $5,500. Xanrox predicted an extended consolidation at $5,500 before the cryptocurrency rises. His graphic suggested Ethereum may reach $113,000 at some time.
Ethereum Will See Demand Shock
In an X post, Bitwise CIO Matt Hougan predicted a demand shock for ETH, which would drive the price up.
Matt Hougan anticipates increased demand. He stated that ETF investors' ETH-to-BTC holdings ratio is underweight.
The Bitwise CIO estimated that Ethereum ETFs and treasury corporations may buy $20 billion of ETH in a year, or 5.33 million ETH at today's pricing. The Ethereum network is predicted to create 800,000 ETH during the same timeframe, resulting in seven times more demand than supply.
Ethereum is now trading at $3,700, up in the previous 24 hours, according to CoinMarketCap.
#BTCvsETH #ETHBreaks3700 #CryptoClarityAct $ETH
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
ETH
4,490.88
-5.08%