Ethereum Poised for Major Price Surge to $4,000
Ethereum’s price might skyrocket to $4,000 soon, thanks to promising patterns like a bullish flag and a golden cross.Plus, the iShares Ethereum ETF is close to a milestone that could boost its value.
Ethereum currently sits around $2,500, a significant increase from its recent low of $2,380. A major reason for this upswing is the surging inflows into ETFs. ETFs similar to Ethereum have added over $3.3 billion in the past few weeks, as revealed by SoSoValue data.
On Friday alone, there was a $25 million influx – the 15th straight day of such increases. These funds now total over $9.4 billion,representing 3.1% of Ethereum’s market capitalization.
- The iShares Ethereum ETF (ETHA) has received $4.85 billion in inflows.
- it’s on track to reach a $5 billion milestone.
these inflows suggest that American institutional investors are indirectly backing Ethereum. Other signs of growth include a 26% rise in the total value locked in Ethereum’s decentralized finance ecosystem in the past 30 days, now at $130 billion.
Technically speaking, the daily chart shows a bullish flag pattern and a golden crossover. This could push Ethereum’s price as high as $4,097. Such patterns frequently enough lead to price gains.As a notable exmaple, a similar crossover last November led to a 35% increase.
Essentially, ethereum’s price is on a promising path, propelled by strong market sentiments and technical indicators. Keep an eye on these ethereum news for future updates!
