Can Ethereum Touch $4,000? Crypto Analyst Says ETH Rally Far From Over

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	19,474,431,774	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

19,474,431,774

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00195	1.45%	0.13616	0.13617	0.13621

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00195

1.45%

0.13616

0.13617

0.13621

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.13636	0.13288	0.13383	0.13421	0.055786 - 0.228990

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.13636

0.13288

0.13383

0.13421

0.055786 - 0.228990

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:19:25	10,612.00	0.13616	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:19:25

10,612.00

0.13616

USD

Price x Volume	Volume	Base Symbol	Related Pairs
11,444,572.10	85,176,072.63	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

11,444,572.10

85,176,072.63

Can Ethereum Touch $4,000? Crypto Analyst Says ETH Rally Far From Over

27/02/2024 5:00pm

NEWSBTC

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 that ETH could hit soon enough. Ethereum Could Rise To As High As $4,000 Crypto analyst Altcoin Sherpa suggested in an X (formerly Twitter) post that Ethereum could rise to as high as $4,000. His prediction looks feasible when one considers crypto analyst Bitcoin Ape’s recent analysis of Ethereum from a technical analysis perspective. Related Reading: Crypto Analyst Predicts Dogecoin Parabolic Breakout Above $3.5, Here’s When In his X post, Bitcoin Ape noted that the ADX (average directional index) indicator is currently “very high,” signalling that ETH’s 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’s new resistance level. Interestingly, the analyst noted that Ethereum 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 returns in full force. Meanwhile, Altcoin Sherpa isn’t the only one who believes that ETH could rise to $4,000 soon enough. Standard Chartered Bank had also predicted that the crypto token would hit this price level by the time the Spot Ethereum ETF is approved in May. Crypto analyst Rager also recently gave a bullish prediction for ETH’s 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’t the “peak high by any means.” Ethereum’s Rally Not Hinged On Bitcoin’s Success There is reason to believe Ethereum’s current bullish momentum isn’t due to Bitcoin’s price surge, as the Ethereum ecosystem also has narratives that may be driving ETH’s rally. For one, the Ethereum network’s ‘Dencun’ upgrade 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. Related Reading: Bitcoin Spot ETF Jitters Subside: Grayscale Outflows Drop To New Lows Meanwhile, talks about a Spot Ethereum ETF 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. The increased interest in ETH is expected to spark significant rallies in its price ahead of the May deadline, when the SEC will have to approve or deny VanEck’s Spot Ethereum ETF application. ETH bulls maintain hold above $3,200 | Source: ETHUSD on Tradingview.com Featured image from Bitcoinist, chart from Tradingview.com

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