Ethereum's Path To $5K Looks Increasingly Clear, Says Analyst: 'It's Not A Matter Of If, But When'
Portfolio Pulse from Benzinga Neuro
Crypto analyst Ali Martinez predicts Ethereum (ETH) will reach $5,000, citing a supply zone between $4,522-$4,646 as the main obstacle. Ethereum has recently surged nearly 10%, trading above $4,000, and is 17.2% below its all-time high. The increase is attributed to the upcoming Dencun upgrade and potential approval of an Ether spot ETF in May, similar to the impact seen with Bitcoin ETF approvals.
March 12, 2024 | 3:54 am
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Ethereum (ETH) is predicted to reach $5,000, with recent trading above $4,000 and a significant increase in trading supply. The upcoming Dencun upgrade and potential Ether spot ETF approval are key drivers.
The prediction of Ethereum reaching $5,000 is based on its recent performance and the anticipation of market-moving events such as the Dencun upgrade and the potential approval of an Ether spot ETF. These factors contribute to a positive outlook for Ethereum's price in the short term.
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IMPORTANCE 90
RELEVANCE 100