Ethereum Price Prediction: Is the $3,500 Threshold ETH’s Launchpad for a New Rally?
Main Idea
Ethereum price has established $3,500 as a critical threshold, with ETFs buying 18 months' worth of supply in three weeks, and extreme short positions fueling a potential breakout towards $4,800.
Key Points
1. Ethereum ETFs have purchased 1,368,980 ETH this month, compared to only 72,513 ETH minted, creating a supply shock.
2. Extreme bearish positioning in CME futures (-13,236 contracts) suggests potential for a short-covering rally.
3. Ethereum is trading at $3,708, having broken key resistance levels and approaching the $4,000 zone.
4. A broadening wedge breakout on the weekly chart targets $4,800, representing a 30% upside from current levels.
5. The $SNORT token presale has raised over $2 million, offering staking rewards and reduced trading fees, with projections of reaching $0.65 by late 2025.
Description
Ethereum price has established the $3,500 threshold as a critical launchpad level, while smart money rotation from Bitcoin creates unprecedented institutional demand. ETFs have purchased 1,368,980 ETH this month, compared to only 72,513 ETH minted, effectively buying 18 months’ worth of supply in just three weeks. This supply shock coincides with extreme bearish positioning in CME futures reaching -13,236 contracts, creating substantial fuel for short-covering rallies. Currently trading at $3,70...
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