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bitcoin
Bitcoin (BITCOIN)
$117,503 -1.35%
ethereum
Ethereum (ETHEREUM)
$3,763 -2.52%
binancecoin
BNB (BINANCECOIN)
$827.43 0.24%
solana
Solana (SOLANA)
$184.11 -2.25%
ripple
XRP (RIPPLE)
$3.13 -2.56%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.96%
pepe
Pepe (PEPE)
$0.000012 -5.28%
bonk
Bonk (BONK)
$0.000034 -2.44%
bitcoin
Bitcoin (BITCOIN)
$117,503 -1.35%
ethereum
Ethereum (ETHEREUM)
$3,763 -2.52%
binancecoin
BNB (BINANCECOIN)
$827.43 0.24%
solana
Solana (SOLANA)
$184.11 -2.25%
ripple
XRP (RIPPLE)
$3.13 -2.56%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.96%
pepe
Pepe (PEPE)
$0.000012 -5.28%
bonk
Bonk (BONK)
$0.000034 -2.44%
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Ethereum Price Forecast – ETH Likely to Test $4500 If Intraday Resistance Is Broken

Highlights:

  • Ethereum is making higher lows, an indicator of rising bullish momentum
  • ETH faces resistance at $3930.5 despite rising momentum 
  • Rising institutional demand could trigger a rally through resistance 

Ethereum (ETH) is trending today, indicating that it continues to draw investor interest as it has in recent weeks. Ethereum was trading at $3876.56 when going to press, up by 1.13% in the day. This brings Ethereum closer to the $4000 mark, which could also be a precursor to a potential rally to new all-time highs. 

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Ethereum trading volumes are also rising by 41.65% to $33.44 billion. This indicates strengthening momentum, and Ethereum could be headed to $ 4,000 or higher in the short term. A couple of other factors hint at a possible continuation of the momentum Ethereum has built up so far. 

Inflows Into ETH ETFs On the Rise

One of the bullish indicators is the growing inflows into Ethereum ETFs. For over a month, inflows into Ethereum ETFs have been getting stronger. In the week ending July 25, Ethereum ETFs hit a high of $1.85 billion in inflows. Even more interesting is that investors are finding Ethereum ETFs more interesting than Bitcoin. This could be an indicator that institutional inflows are increasingly flowing into Ethereum. It is a factor that could trigger a parabolic price move for Ethereum as demand starts to outstrip supply. With such strong institutional money flow, even a rally to $10k could be in the cards for Ethereum.

More Companies Building Ethereum Treasuries

Besides the ETFs, more companies are building Ethereum treasuries and loading up on billions of dollars worth of Ether. For instance, Bitmine Immersion currently has over 300k Ethereum in its treasury, which is about 5% of the total supply of Ethereum in circulation. With many other companies following the same route, the amount of Ethereum in circulation will drastically drop going into the future. The result is that a price pump could push Ethereum to new highs in the short to medium term.

Ethereum Improving Fundamentals Could Drive More Adoption

Ethereum also stands to benefit from its improving fundamentals, which make it even more attractive to the average investor. For context, its growing scalability and drop in transaction fees have made Ethereum more attractive for DeFi applications, and more importantly, in the fast-growing space of Real World Asset tokenization.

Ethereum’s move from POW to POS a while back has also made it incredibly attractive to investors seeking yield. With expectations high that the SEC could soon approve staking ETFs, the number of yield-bearing products centered around Ethereum will continue to grow. The result is that Ethereum could be headed much higher as investors seeking yield continue to accumulate Ethereum.

Analysts Increasingly Hold a Favorable Outlook for Ethereum

ETH also stands to benefit from the rising bullish sentiment from analysts. Unlike in the past year when analysts had a gloomy outlook for Ethereum, many now expect it to outperform Bitcoin in the short term. Analysts believe that due to technical improvements and growing institutional interest, Ethereum could outperform Bitcoin in this cycle. The consensus is that Ethereum could trade at around $4500 in the short term.

Technical Analysis – ETH Likely Headed Higher

Ethereum is currently trending in a bullish channel while making higher lows. This means every slight dip in its price is being bought up first. Such strong demand is a hint that Ethereum is likely headed much higher

ETH Price
Source: TradingView

However, ETH needs to rally through the $3930.5 resistance for the upside momentum to continue. Such a rally could pave the way for a test of $4500 in the short term. 

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