Ethereum price prediction by a lot of analysts show ETH is set to climb to $4,000. This happens as technicals and market participation point to further gains.
Despite massive whale sell-offs, the cryptocurrency has shown stability. ETH price remains in the bullish zone due to the expansion of the Layer 2 ecosystem.
Ethereum price prediction: Imminent Golden Cross Points to Historical Rally Patterns
Ethereum price prediction show it is preparing for a “golden cross”. It is a bullish signal in which the 50-day moving average surpasses the 200-day moving average. Previously, this pattern has been linked to price gains of more than 100%. According to analysts, this particular metric suggests that Ethereum can be heading towards $4,000.
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As seen from the daily chart, there are exponential moving averages that show that the price of Ethereum is in an upward trend. The 50-day EMA has also moved above the 100-day EMA and is on the rise towards the 200-day EMA. This means that ETH price may be forming a golden cross pattern.
The alignment shows that the market is slowly becoming bullish since the prices remain above all the three EMAs. The bullish breakout above the 200-day Exponential Moving Average strengthens the good support at $3200 and this might propel the price towards $3700 and maybe $4000.
Whale Sell-Off of $1.3 Billion ETH Fails to Derail Bullish Momentum
Despite the bullish outlook, the Ethereum price prediction market has seen heavy selling pressure from dormant whale accounts.
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On-chain data shows that a whale who purchased 398,889 ETH at an average of $6 awakened after eight years and began selling off large amounts of Ethereum. The wallet has already liquidated 73,356 ETH which is approximately equal to $224 million and as of now, there are 325,533 ETH left.
These sell-offs have occurred in tandem with other significant trends, such as ICO participants selling their Ethereum holdings. An address linked to Interchain, the development company of Cosmos, has sold 21,600 ETH, which amounts to $95 million since April 2024.
Still, Ethereum price predictions remains quite stable. ETH price has even increased by 7% in the past week and broke the $3,300 barrier. This performance indicates that the demand is constant even when there are pressures to sell.
Ethereum Price Prediction: Bull Flag Breakout Targets $3,700 and Beyond
Additionally, Ethereum has recently broken out of a bull flag pattern that has paved the way for a retest of the $3,700 mark. Bull flag patterns are usually considered as indications of forthcoming price increases. Pricing above $3,200 could be seen as a key level of support for the continuation of the rally.
Moreover, the market capitalization of the cryptocurrency now stands at over $400 billion, an indication of the level of investors’ confidence. There is a positive sentiment among the market participants regarding ETH price, some analysts have predicted that ETH price could reach $5,000 in the next few months.
Layer 2 Tokens Experience Notable Gains Amid Rally
The bullish pressure in Ethereum also impacted Layer 2 tokens, indicating that more investors are utilising Ethereum scaling solutions. Optimism (OP), Metis (METIS), and Arbitrum (ARB) are up by 7 percent, 4 percent, and 6 percent in the last 24 hours respectively.
This tendency is mainly caused by the enhancement of Layer 2 technologies to overcome the scalability problems. With Ethereum’s main chain growing in popularity, its Layer 2 solutions are being adopted massively by developers as well as users. These platforms are useful in decreasing congestion and cost of transaction and hence are viable for decentralised applications.
