Ethereum Surge Coming? Analyst Eyes $16,000 Milestone Within 2 Years

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	329,533,475,547	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

329,533,475,547

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-10.94	-0.40%	2,723.06	2,722.81	2,723.29

Price Change

Price Change %

Current Price

Bid Price

Offer

-10.94

-0.40%

2,723.06

2,722.81

2,723.29

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,770.77	2,699.60	2,733.00	2,734.41	2,112.00 - 4,109.67

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,770.77

2,699.60

2,733.00

2,734.41

2,112.00 - 4,109.67

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	03:57:47	0.008113	2,724.10	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

03:57:47

0.008113

2,724.10

USD

Price x Volume	Volume	Base Symbol	Related Pairs
100,461,905.31	36,750.81	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

100,461,905.31

36,750.81

Ethereum Surge Coming? Analyst Eyes $16,000 Milestone Within 2 Years

08/12/2024 1:00pm

NEWSBTC

Ethereum (ETH) continues to spark bullish talk in the cryptoverse, as well known analysts see large price moves ahead. According to Venture Founder, Ethereum is forming a rising three-year triangle pattern, which could set the stage for a possible breakout. Based on similar comparisons to data from 2016-2017, the altcoin will hit $15,937, probably by May of 2025. Related Reading: Countdown To $5 XRP: Engineer Predicts Milestone On ‘Strong Fundamentals’ Such a rise would take Ethereum’s market capitalization beyond $1 trillion, a historic first for the blockchain behemoth. Analysts view a weekly close above $3,800 as a significant milestone. From there, Ethereum might aim for its all-time high of $4,878 before moving on to higher grounds. But is the market prepared for this upswing? This $ETH breakout out of the triangle consolidation is very significant. Now #Ethereum only has to close this weekly candle bullish, and we may never revisit this sub $4,000 level again in this bull cycle. The impulse move from 2016-2017 is repeating. PT: $15,937 by May 2025 pic.twitter.com/dNzcO3mPe1 — venturefounder (@venturefounder) December 6, 2024 Institutional Interest Drives Optimism More institutions are becoming interested in Ethereum, which makes people more optimistic about its long-term prospects. Spot Bitcoin ETFs got a lot of attention at the beginning of the year, and now Ethereum-based funds are following suit. Notably, since the middle of November, spot Ether ETFs have gotten more than $1.3 billion in fresh inflows. The iShares Ethereum Trust from BlackRock has made the most returns, $500 million in just one week. Beyond just numbers, these investments show a rising trust in the Ethereum ecosystem. According to analysts, this institutional funding flow will pave the way for ETH’s anticipated meteoric rise. With institutional investors continuing to pour money into the cryptocurrency, Ethereum’s value proposition as a long-term investment appears stronger than ever. Technical Indicators And Forecast The recent weeks’ price behavior of Ethereum has also been rather favorable. Following a little setback, the altcoin has recovered, climbing 30% starting in November 18. With analysts underlining its resilience against market swings, it is trading at $3,686 right now, which is a solid figure. Technical markers of consolidation point to ETH getting ready for its next action. Moving averages show stability, hence the Relative Strength Index (RSI) stays neutral. Forecasts show ETH perhaps rising by 43% in six months and 22% in three months, data from CoinCheckup shows. Related Reading: Dogecoin Days At The Top Numbered? Cardano Set To Take Over — Analyst Looking Ahead The signals point favorably even though Ethereum’s route to reach $15,937 is undetermined. With favorable technical conditions, institutional inflows, and strong ecosystem development, the altcoin is primed for major increases. Featured image from INX, chart from TradingView

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