
Jakarta, Pintu News – Ethereum showed significant gains again this week, driven by strong institutional demand and large fund flows into ETFs. These gains fueled speculation about the potential for higher prices in the future.
Recent reports show that in one day alone, inflows into ETFs reached almost $730 million. This is said to have helped reduce selling pressure and boost market confidence. Predictions from Standard Chartered point to a year-end figure of $7,500, while some market commentators and smaller research groups are targeting up to $8,500.
It is this combined view from major banks and crypto-focused analysis that is driving talk of a continued rally. After reaching the $4,811.71 target, the price of Ethereum (ETH) experienced a pullback. However, bullish signals have been confirmed, indicating a possible return to and surpassing of that target level. If it manages to pass this target, there could be an additional surge of +77% towards $8,557.68.
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Several reports have revealed technical setups that traders are concerned about. The pivot point near $4,811 was mentioned by some analysts as a level that needs to be crossed for greater progress to become more likely. Ethereum’s (ETH) recent trading band ranges between $4,400-$4,600 on many charts, meaning a significant upside is required to reach such a lofty target.
According to market commentary, several things must happen simultaneously. Sustained ETF inflows and steady institutional accumulation are key. Also important are clearer rules for ETF products and a soft macro backdrop that keeps risk appetite intact.
Some analysts added that if Bitcoin moves higher-the scenario being used suggests a rise to around $150,000-Ethereum (ETH) could benefit as investors reallocate between major crypto assets.
News reminds us that the concept of $8,500 is built on several positive developments happening simultaneously. Policy changes, weaker demand for ETFs, or changes in macro sentiment can also halt a rally quickly.
With strong institutional backing and in-depth technical analysis, Ethereum (ETH) appears to be gearing up for a significant upside potential. However, investors should remain wary of risks that could alter the market’s direction.
Also Read: Maartunn Analyst Says December 2024 Crypto Market Pattern Repeats, What Does It Mean?
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