- Analysts doubled down on $10K target calls for ETH.
- Will growing demand, as seen by strong ETH ETF flows, boost the projection?
As a seasoned crypto investor with a knack for deciphering market trends and patterns, I find myself intrigued by the recent bullish sentiments surrounding Ethereum (ETH). The $10K target calls from analysts are indeed compelling, especially considering the strong ETH ETF flows that have surpassed Bitcoin’s inflows recently.
Experts in the financial market are increasingly voicing predictions that Ethereum‘s [ETH] value could reach $10,000. This recent prediction links the surge of XRP as an example, noting that its bullish trend mirrors Ethereum’s 3-year price behavior.
As reported by the anonymous cryptocurrency expert known as Wolf, both of these assets have been compressed into a 3-year triangular pattern. Since XRP has already tripled in value following its breakout, it’s possible that ETH could also increase significantly, potentially reaching a target price of $12,000.
Record ETH ETF flows
The influx of funds into U.S.-listed Ethereum ETFs is significantly contributing to the optimistic forecast, as on November 29th, these ETFs surpassed Bitcoin ETFs in terms of inflow for the first time.
Yesterday, the ETH ETF experienced its largest single-day investment of $332.9 million since its debut, while Bitcoin ETFs saw an intake of $320 million in investments as well.
Based on data from SpotOnChain, it appears that Ethereum ETFs experienced more substantial increases in investment compared to Bitcoin ETFs during the last week. This trend underscores Ethereum’s superior performance relative to Bitcoin over the same timeframe.
Could the robust demand propel the altcoin to reach new peak levels (all-time highs, ATH)? The market responded by adjusting ETH’s valuation after the bullish results from the U.S. Presidential election.
Initially in November, the probability that Ethereum would reach a new all-time high by 2024 stood at 8%. However, following the elections, the likelihood increased significantly to 25% by the month’s end.
It’s uncertain if the price of ETH will exceed its previous peak of $4.8K by December, but traders on Deribit have estimated a possibility of about 18% that ETH could reach $10K by September 2025.
Read Ethereum [ETH] Price Prediction 2024-2025
In December, it appears that options traders have placed wagers worth approximately $289 million on Ethereum (ETH) reaching $4,000. If ETH falls below a critical level of $2,800, these traders will incur losses, as this is referred to as the “max pain” point. Additionally, there have been substantial bullish bets placed on ETH prices hitting $4,500 and $6,000 as well.
Following a strong 46% surge in November, Ethereum was almost at the point of shattering its long-term downward trend from 2024. The impending change in market structure might prompt Ethereum to target prices around $4,000 and even $4,500 over the near future.
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2024-12-01 18:15