Ethereum
Here’s When Ethereum Will Hit $4,000, According to One Analyst
Ethereum (ETH) is currently showing signs of recovery after a recent sell-off. This has led to a notable bounce, suggesting the potential for a continued uptrend.
Over the past two months, Ethereum has outperformed Bitcoin (Bitcoin), with analysts predicting a significant increase in prices in the coming days due to the planned launch of a Ethereum ETF.
This event should strengthen ETH against BTC, especially given the bearish divergence on the BTC weekly chart.
Despite the optimism, there is no clear timeline for the launch of the highly anticipated Ethereum spot ETF, causing confusion among issuers over the delay.
Nevertheless, major market participants and Ethereum whales have been accumulating ETH in anticipation of FNB approval, providing for a substantial increase in prices once approval is granted.
In a TradingView job On July 13, analyst RLinda pointed out that the ETHUSDT daily chart shows that bulls actively maintain the price above a crucial level support double.
Technical analysis and market outlook
According to the analysis, the area above the 200-day limit moving average (MA) indicates consolidation, which is a positive sign for a bullish structure.
ETH price analysis chart. Source: TradingView/RLinda
The flow resistance The level is around $3,200, and a break could lead to a significant upward move, potentially targeting the $4,000-4,800 range.
On a shorter four-hour time frame, the price movement is characterized by consolidation. A major player seems to be actively buying ETH, anticipating important news and strengthening the intermediate lower zone.
This period of consolidation, supported by increased volume, indicates strong buying interest and a likely continuation of the uptrend. Key support levels here are around $3,056 to $3,152, which have remained firm consistently.
The weekly chart supports this bullish outlook, showing a long-term uptrend. The key support level at around $2,852 has proven resilient, with buyers preventing further declines.
A break above the current resistance levels on the weekly chart could lead to a significant rally, targeting the $4,000-$4,800 range.
Timeline to reach $4,000
Considering the current market conditions and the expected approval of ETH ETFs, Ethereum could hit the $4,000 mark in the next 4-6 weeks.
This projection is based on the expected approval of ETH ETFs in the next 1-2 weeks, technical indicators suggesting a strong uptrend and positive market sentiment with strong buying interest.
As of the latest update, Ethereum is trading at $3,201.78, which reflects a 2% increase on the daily chart.
This upward momentum is reinforced by fundamental and technical indicators which point towards a bullish future.
In the short term, it is essential to maintain the consolidation above the MA-200 and break through key resistance levels.
In the longer term, maintaining support levels and continuing the uptrend could allow Ethereum to reach new highs.
The alignment of fundamental and technical factors suggests that Ethereum could soon hit the $4,000 mark, especially if the expected ETF approval materializes.
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