Ether Shows Potential for $9,000 Target Amid Tight Supply and Rising Demand, Analysts Suggest
Main Idea
Ether (ETH) shows potential to reach $9,000 due to supply constraints, rising demand, and bullish technical indicators, with onchain data supporting this upward trajectory.
Key Points
1. Ether remains undervalued despite a 50% price increase, with the MVRV Z-score indicating it hasn't reached typical market top levels.
2. Elliott Wave analysis projects a possible peak near $9,000 by early 2026, contingent on market conditions.
3. Approximately 28% of ETH's total supply is staked, reducing circulating liquidity, while exchange-held ETH balances are at their lowest since 2016.
4. New buyer activity has surged, with first-time holders increasing ETH holdings by about 16% since early July.
5. Spot Ether ETF inflows have surpassed $4 billion, reflecting growing institutional interest.
Description
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