Ether approaches $4,700, targets new all-time high: check forecast
Main Idea
Ether (ETH) is approaching $4,700 amid strong institutional demand, with analysts predicting it could reach $5,000 soon, supported by bullish market indicators and significant inflows into spot Ether ETFs.
Key Points
1. Ether's price surged 8% in 24 hours, reaching $4,622, and is nearing its all-time high of $4,891.
2. Analysts forecast ETH could surpass $5,000 due to bullish technical indicators like MACD and RSI.
3. Spot Ether ETFs attracted $520 million in inflows, with weekly flows expected to exceed $2 billion for the first time.
4. BitMine filed an SEC prospectus to raise up to $24.5 billion to accumulate ETH, aiming to hold 5% of circulating supply.
5. The broader crypto market rebounded, adding nearly $200 billion in 24 hours, with Bitcoin trading above $119,000.
Description
The cryptocurrency market has recovered from Monday’s slump, with nearly $200 billion added to the market over the last 24 hours. Bitcoin is trading above $119k once again while Ether and Solana lead the market charge. Ether is now closing in on its all-time high, with analysts betting on it surpassing the $5k mark in the near term. Ether approaches $4,700 amid growing institutional demand Ether, the second-largest cryptocurrency by market cap, is the second-best performer among the top 10 crypt...
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