Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst Linda has made a bullish case for Ethereum (ETH), predicting that the second-largest crypto token by market cap could rise to $4,000. The analyst also explained what could lead to such a price surge. Why Ethereum Could Reach $4,000 In a post shared on TradingView, Linda highlighted the potential approval of the Spot Ethereum ETFs as one factor that could trigger a move to $4,000 for Ethereum. She noted that the sentiment around these funds is positive, with traders waiting for news from the US Securities and Exchange Commission (SEC).\u00a0 Related Reading: Bitcoin Accumulation: Who\u2019s Been Buying Up All The BTC Dumped By The German Government? These Spot Ethereum ETFs are expected to be approved anytime soon based on predictions made by market experts, including Bloomberg analyst James Seyffart. Similarly to Linda\u2019s prediction, other crypto analysts like Michael van de Poppe have predicted that the Spot Ethereum ETFs will spark a massive rally for Ethereum.\u00a0\u00a0 Meanwhile, from a technical perspective, Linda noted that Ethereum\u2019s outlook is bullish and supports the crypto token\u2019s potential rise to $4,000. She claimed that the trigger area for buyers was at $3,200. In line with this, she believes that further final consolidation of the price above the 200-day moving average and a breakout above $3,200 will \u201cbecome the reason for strengthening,\u201d with a potential price target between $4,000 and $4,800 in sight.\u00a0 On local timeframes, Linda also stated that there are \u201cprerequisites for a bullish mood,\u201d especially on the daily timeframe, where the analyst noted that a rebound from strong support is forming. Based on her analysis, Linda claimed that the overall outlook for Ethereum points to a further rise to $4,000.\u00a0 Ethereum\u2019s Chart Identical To Bitcoin\u2019s Before ETF Launch Crypto analyst Crypto Rover recently mentioned that Ethereum\u2019s chart is identical to Bitcoin\u2019s before the Spot Bitcoin ETFs launched. Based on this, the crypto analyst was suggesting that Ethereum could make a similar run to the one the flagship crypto enjoyed after the Bitcoin ETFs were approved.\u00a0 In another X post, the analyst stated that the Spot Ethereum ETFs would be approved, meaning that Ethereum\u2019s price rally could already be on the horizon. ETH\u2019s price surge is expected to happen thanks to the inflows the Spot Ethereum ETFs will record. Crypto research firm K33 predicts these funds could attract as much as $4.8 billion in their first five months of trading. Related Reading: Why Did The Cardano Price Surge 17% Amid The Crypto Market Crash? Crypto analyst Leon Waidmann also highlighted how these Spot Ethereum ETFs will spark a massive rally for Ethereum, stating that institutional investors will likely take a huge chunk of Ethereum\u2019s dwindling supply once these funds begin trading.\u00a0 At the time of writing, Ethereum is trading at around $3,300, up almost 5% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":629837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,7931,6931,8686,78803],"class_list":["post-629818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n
Crypto Analyst Says Ethereum Price Is Headed To $4,000, Here\u2019s Why<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n