{"id":36501,"date":"2024-02-27T17:53:58","date_gmt":"2024-02-27T21:53:58","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=36501"},"modified":"2024-02-27T17:53:58","modified_gmt":"2024-02-27T21:53:58","slug":"can-ethereum-touch-4000-crypto-analyst-says-eth-rally-far-from-over","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/27\/can-ethereum-touch-4000-crypto-analyst-says-eth-rally-far-from-over\/","title":{"rendered":"Can Ethereum Touch $4,000? Crypto Analyst Says ETH Rally Far From Over"},"content":{"rendered":"

Like Bitcoin, Ethereum has also picked up steam, with the second-largest crypto token crossing the $3,000 resistance level for the first time since 2021. Interestingly, this crypto analyst believes the rally is far from over, as he highlighted a key price level<\/a> that ETH could hit soon enough.\u00a0<\/p>\n

Ethereum Could Rise To As High As $4,000<\/h2>\n

Crypto analyst Altcoin Sherpa suggested in an X (formerly Twitter) post<\/a> that Ethereum could rise to as high as $4,000. His prediction looks feasible when one considers crypto analyst Bitcoin Ape\u2019s recent analysis of Ethereum from a technical analysis perspective.\u00a0<\/p>\n

In his X post<\/a>, Bitcoin Ape noted that the ADX (average directional index) indicator is currently \u201cvery high,\u201d signalling that ETH\u2019s bullish trend is strong. Indeed, this bullish momentum might be very strong as the crypto token has since crossed the $3,130 price level, which Bitcoin Ape highlighted in his post as ETH\u2019s new resistance level<\/a>.\u00a0<\/p>\n

Interestingly, the analyst noted that Ethereum<\/a> had already faced four resistance levels in February alone and has so far broken all of them, having also crossed the $3,130 mark. Although Bitcoin Ape failed to give his short-term prediction for ETH, he expects the crypto token to hit its all-time high (ATH) of $4,891 when the bull run<\/a> returns in full force.\u00a0\u00a0<\/p>\n

Meanwhile, Altcoin Sherpa isn\u2019t the only one who believes that ETH could rise to $4,000 soon enough. Standard Chartered Bank had also predicted<\/a> that the crypto token would hit this price level by the time the Spot Ethereum ETF<\/a> is approved in May.\u00a0<\/p>\n

Crypto analyst Rager also recently gave<\/a> a bullish prediction for ETH\u2019s price, although he put his short-term target at $3,500. However, he added that this price level is only the beginning, stating that it isn\u2019t the \u201cpeak high by any means.\u201d<\/p>\n

Ethereum\u2019s Rally Not Hinged On Bitcoin\u2019s Success<\/h2>\n

There is reason to believe Ethereum\u2019s current bullish momentum<\/a> isn\u2019t due to Bitcoin\u2019s price surge, as the Ethereum ecosystem also has narratives that may be driving ETH\u2019s rally. For one, the Ethereum network\u2019s \u2018Dencun\u2019 upgrade<\/a> is set to take place on March 13. This much-anticipated event is significant as it would usher in advancements in the scalability, security, and usability of the Ethereum network.<\/p>\n

Meanwhile, talks about a Spot Ethereum ETF<\/a> likely being approved in May have created a lot of excitement for investors who have chosen to double down on their investments in the second-largest crypto token in anticipation of this happening.\u00a0<\/p>\n

The increased interest in ETH is expected to spark significant rallies in its price ahead of the May deadline, when the SEC<\/a> will have to approve or deny VanEck\u2019s Spot Ethereum ETF application<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Like Bitcoin, Ethereum has also picked up steam, with the second-largest crypto token crossing the $3,000 resistance level for the first time since 2021. Interestingly, this crypto analyst believes the rally is far from over, as he highlighted a key price level<\/a> that ETH could hit soon enough.\u00a0<\/p>\n

Ethereum Could Rise To As High As $4,000<\/h2>\n

Crypto analyst Altcoin Sherpa suggested in an X (formerly Twitter) post<\/a> that Ethereum could rise to as high as $4,000. His prediction looks feasible when one considers crypto analyst Bitcoin Ape\u2019s recent analysis of Ethereum from a technical analysis perspective.\u00a0<\/p>\n

In his X post<\/a>, Bitcoin Ape noted that the ADX (average directional index) indicator is currently \u201cvery high,\u201d signalling that ETH\u2019s bullish trend is strong. Indeed, this bullish momentum might be very strong as the crypto token has since crossed the $3,130 price level, which Bitcoin Ape highlighted in his post as ETH\u2019s new resistance level<\/a>.\u00a0<\/p>\n

Interestingly, the analyst noted that Ethereum<\/a> had already faced four resistance levels in February alone and has so far broken all of them, having also crossed the $3,130 mark. Although Bitcoin Ape failed to give his short-term prediction for ETH, he expects the crypto token to hit its all-time high (ATH) of $4,891 when the bull run<\/a> returns in full force.\u00a0\u00a0<\/p>\n

Meanwhile, Altcoin Sherpa isn\u2019t the only one who believes that ETH could rise to $4,000 soon enough. Standard Chartered Bank had also predicted<\/a> that the crypto token would hit this price level by the time the Spot Ethereum ETF<\/a> is approved in May.\u00a0<\/p>\n

Crypto analyst Rager also recently gave<\/a> a bullish prediction for ETH\u2019s price, although he put his short-term target at $3,500. However, he added that this price level is only the beginning, stating that it isn\u2019t the \u201cpeak high by any means.\u201d<\/p>\n

Ethereum\u2019s Rally Not Hinged On Bitcoin\u2019s Success<\/h2>\n

There is reason to believe Ethereum\u2019s current bullish momentum<\/a> isn\u2019t due to Bitcoin\u2019s price surge, as the Ethereum ecosystem also has narratives that may be driving ETH\u2019s rally. For one, the Ethereum network\u2019s \u2018Dencun\u2019 upgrade<\/a> is set to take place on March 13. This much-anticipated event is significant as it would usher in advancements in the scalability, security, and usability of the Ethereum network.<\/p>\n

Meanwhile, talks about a Spot Ethereum ETF<\/a> likely being approved in May have created a lot of excitement for investors who have chosen to double down on their investments in the second-largest crypto token in anticipation of this happening.\u00a0<\/p>\n

The increased interest in ETH is expected to spark significant rallies in its price ahead of the May deadline, when the SEC<\/a> will have to approve or deny VanEck\u2019s Spot Ethereum ETF application<\/a>.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-36501","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=36501"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36501\/revisions"}],"predecessor-version":[{"id":36510,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36501\/revisions\/36510"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36501"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}