Ethereum (ETH) has seen a 3% rise in large holders, and the cryptocurrency is aiming to break past the $4,000 mark. If it successfully overcomes the $4,000 resistance level, it would aim for the $4,093 resistance — its highest level since December 2021.
However, ETH has rejected the $4,000 level twice since the spot ETH ETF approval by the SEC.
Many expect ETH to see more significant gains in the coming weeks as it has barely performed in this cycle compared to previous cycles. Additionally, spot ETH ETF inflows after potential issuers’ S-1 approvals would help boost ETH price to a new all-time high above $4,878.
On the downside, Ethereum has to stay above $3,650 if we want it to successfully break the 4k resistance. So far the SEC has delayed the launch of the spot ETH ETF, causing the price to struggle below $3,900 and this may continue for a few more weeks before investors’ appetite for the token increases enough for it to shoot through the 4k barrier.
In a more bullish prediction, VanEck has made a bold claim that Ethereum could reach $154,000 by 2030, representing a massive 3,905% increase from the current price.
This forecast is based on an expected increase in Ethereum’s free cash flow, which is the amount of Ethereum available for network operations after deducting costs like smart contracts and gas fees. Despite recent market fluctuations, which saw ETH fall to $3,687, VanEck remains optimistic about the cryptocurrency’s future prospects.
☝These are my opinions, not financial advice, always DYOR.
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⚠️ DISCLAIMER ⚠️
The information contained in this video is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this post reflects solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.
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