Crypto analyst Linda foresees a substantial increase in Ethereum’s price, potentially hitting $4,000 as anticipation grows for the approval of Spot Ethereum ETFs. Market experts believe that this approval could trigger a significant rally for Ethereum, with positive sentiment and technical indicators supporting the bullish outlook. In contrast, Pawfury (PAW) emerges as a top performer in the market with its high-yield staking rewards and competitive APY, offering early investors a lucrative opportunity with a limited time extra bonus promotion.
Crypto analyst Linda has predicted a significant rise in Ethereum’s (ETH) price, projecting it could reach $4,000. The prediction was made in a post shared on TradingView, where Linda cited the potential approval of Spot Ethereum ETFs as a major catalyst. With positive sentiment surrounding these funds, there is anticipation among traders for an announcement from the US Securities and Exchange Commission (SEC).
Market experts, including Bloomberg’s James Seyffart and analyst Michael van de Poppe, also foresee that the approval of these ETFs could trigger a substantial rally for Ethereum. Linda identified a key technical milestone, suggesting that a breakout above $3,200, coupled with sustained price consolidation above the 200-day moving average, could propel Ethereum towards $4,000 to $4,800.
On smaller timeframes, Linda noted signs of bullish momentum, particularly on the daily chart, where Ethereum is showing a rebound from strong support levels. Another analyst, Crypto Rover, compared Ethereum’s current chart pattern to Bitcoin’s prior to the launch of Spot Bitcoin ETFs, implying a potential similar price run for Ethereum.
Crypto research firm K33 forecasts that Spot Ethereum ETFs might attract up to $4.8 billion within the first five months of trading. Analyst Leon Waidmann added that institutional investors could significantly impact Ethereum’s price once these funds start trading due to the large inflows they are expected to generate.
As of now, Ethereum is trading around $3,300, reflecting an increase of nearly 5% in the past 24 hours, as reported by CoinMarketCap.
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