Ethereum Price Set To Explode Between $4,400 And $35,000 Per Token

• The rush in the price of Ethereum to $3,000 is not yet the top for this month, as analysts suggest its further rise to $4,400 a pop based on technical trends.
• More optimistic estimates put the figures at $35,000 by the end of the year.

Ethereum (ETH), despite its dominance in terms of utility, has always been considered by the crypto community as a second fiddle to Bitcoin (BTC). It has often been overshadowed by XRP also, making it look like the neglected middle child in the crypto trinity.

Riding in the coattails of Bitcoin is not entirely a bad thing, as Ether has regularly benefited from the positive narrative and price upticks in the premier crypto asset. Its rebound to above $3,000 exemplified this as BTC logged one all-time high after the other in the past few days.

Ethereum Breaks Out From Key Resistance

To Ethereum’s credit, though, its chart has displayed a massive potential for further rallies above $3,000. Bitcoin’s milestones merely lit the fuse for its advance.

ADVERTISEMENTAfter overcoming the $2,750 and $2,880 psychological resistance zones, several chart readers have established ETH’s new resistances at $3,040 and $3,120. If it successfully conquers these barriers, it could be due to a rally to $4,400.

Reinforcing the bullish thesis for ETH was its successful breakout from a Head and Shoulders bottom after overcoming a Falling Wedge pattern in April. Additionally, it’s worth noting that there’s only a little sell pressure for Ethereum right now, similar to Bitcoin, which could sustain its positive momentum.

However, former Bitmex CEO Arthur Hayes had a different target in mind. For him, the $4,400 range is but a conservative estimate because ETH’s true top this bull cycle could be $10,000. The numbers somehow echo Gigantic-Cassocked-Rebirth’s (GCR) forecast.

ADVERTISEMENTPeople have accused Hayes of simply shilling for Ether with his over-bullish prediction. Some claimed he was only building hype for the digital asset for exit liquidity.

Nevertheless, his figures were still much less than the $26,000 to $35,000 per ETH projection of Standard Chartered before 2025 ends. And that’s coming from one of the pillars of traditional finance (TradFi).,

ETH Reserve Adoption Gaining Traction

Like Bitcoin and XRP, some companies have elected to hedge their treasuries in Ethereum. In May, SharpLink Gaming disclosed its plan to raise $425 million to build an ETH war chest. The next on the plate was GameSquare Holdings, which recently completed a $5 million acquisition of the digital asset.

All these indicate a growing institutional interest in Ethereum, despite Bitcoin mainly controlling the narrative in the niche.

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