Ethereum $ETH has been on an exciting ride this month, and traders are now eyeing a new milestone: $5,000 by the end of August.
Polymarket Bets on $5K ETH
According to prediction market platform Polymarket, traders currently give Ether a 64% chance of reaching $5,000 before August 31. The confidence doesn’t stop there—odds of Ethereum setting a new all-time high (ATH) in August stand at 87%.
This bullish sentiment comes as $ETH trades around $4,458, slightly below its recent $4,600 level, after the U.S. Producer Price Index (PPI) data spooked markets with hotter-than-expected inflation numbers.
Key Levels to Watch
While excitement is building, analysts warn traders to keep an eye on support levels. If $ETH fails to hold above the $4,400–$4,000 range, a deeper correction could follow before any push toward $5,000.
On the flip side, breaking above $4,600 convincingly could pave the way for Ethereum’s next leg higher, fueled by strong institutional demand, spot ETF optimism, and renewed developer activity across DeFi and NFTs.
What It Means for Investors
For short-term traders, $5,000 is the critical number to watch this month. For long-term holders, Ethereum’s steady growth and expanding ecosystem remain strong bullish signals regardless of short-term volatility.
With prediction markets showing strong confidence, all eyes are now on ETH—will it break past $5K before August ends, or will inflation fears slow down the rally?
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