The Head of Research at DeFi protocol Derive, Dr. Sean Dawson, has expressed a positive outlook on the price of Ethereum. He believes that the second-largest cryptocurrency could potentially reach $12,000, and he attributes this bullish forecast to the Pectra upgrade, which he thinks could fuel a dramatic increase in its value.
Ethereum To Reach $12,000 Thanks To Pectra Upgrade And Other Factors
Research analyst Dawson anticipates that Ethereum might hit $12,000 by year’s end due to the Pectra update, positive effects from Donald Trump’s presidency, increased acceptance, and a rise in ETF investments. According to his analysis, this optimistic outlook is plausible if the Pectra upgrade proves successful. The upgrade aims to enhance network performance and improve user interaction.
With Donald Trump expressing a positive view towards cryptocurrencies, Dawson believes that the incoming U.S. president will foster a regulatory atmosphere that encourages Ethereum’s continued development. For Ethereum (ETH) to reach its $12,000 goal, Dawson added that it must increase its presence within the Real-World Assets (RWA) sector and establish itself as a leader in emerging fields like Decentralized Prediction Markets (DePIN) and Artificial Intelligence agents.
The involvement of Ethereum-based exchange-traded funds (ETFs) is crucial in helping Ethereum reach its target price. Dawson emphasized the importance of increased investments into these funds. He cautioned that if these funds fail to capture institutional attention, it could paint a pessimistic picture for Ethereum’s future value.
As an analyst, I’ve put forth a bearish perspective on Ethereum. I foresee it potentially dipping to around $2,000, primarily due to the observed lack of inflows into Spot ETH ETFs. This could materialize if these funds experience significant setbacks in response to a successful Solana ETF launch. Given Solana’s remarkable performance last year, marked by high network activity, such an event remains plausible.
Dawson cautioned that rival layer-1 networks could potentially erode Ethereum’s dominance in the market, but he also pointed out that such a scenario might present elevated chances for both risk and profit.
ETH Still Bullish Despite Recent Market Downtrend
Cryptocurrency experts believe Ethereum remains optimistic for growth even amidst the current market dip. On his blog, crypto analyst Moon Carl explained that despite a recent price drop, Ethereum is currently trading within a symmetrical triangle in the Daily chart. If the support continues to hold, a bullish breakout towards a potential target of $4,100 could occur.
The crypto expert known as The Cryptomist has outlined a potential route for Ethereum to set a fresh record high (new all-time high). She pointed out a significant descending triangle, characterized by symmetrical deviations. In her analysis, ETH may revisit the previously broken level, only to be rejected and provide support. This could lead to a 4-hour oversold bullish divergence, followed by a surge towards a new all-time high.
Currently, as I’m typing this, Ethereum’s price stands roughly at $3,300, having risen over the past 24 hours, based on information from CoinMarketCap.
Read More
- ARB PREDICTION. ARB cryptocurrency
- ZK PREDICTION. ZK cryptocurrency
- XRD PREDICTION. XRD cryptocurrency
- W PREDICTION. W cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- DGB PREDICTION. DGB cryptocurrency
- Matter Labs Drops All ‘ZK’ Trademark Applications: Details
- Vishnu Manchu finally ENDS THE SILENCE over ongoing family feud between Manchu Manoj and Mohan Babu
- FLOKI PREDICTION. FLOKI cryptocurrency
- CRV PREDICTION. CRV cryptocurrency
2025-01-10 00:04