Ethereum

Arthur

Spot

In this bullish market sentiment, crypto analysts, investors, and institutions are highly optimistic about Ethereum (ETH), the world’s second-biggest cryptocurrency, following the approval of a Spot Ethereum ETF. Recently, an on-chain analytics firm made a post on X (formerly Twitter), highlighting a major prediction by DeFiance Capital founder Arthur. He predicted that ETH would reach the $4,500 level before the Spot Ethereum ETF goes live.
4.5k before spot ETF go live for trading imo.— Arthur (@Arthur_0x) Ethereum is set to hit $4,500 level 
In addition to this prediction, theanalytics firm conducted a survey among the Chinese community regarding the Ethereum price. The survey revealed that 58% of the community members believe the ETH price can surge to $10,000 or more in this cycle. Meanwhile, 41.5% of community members believe the ETH price can trade above the $5,000 level but below $7,000 in this cycle. 
These predictions highlight crypto enthusiasts’, investors’, and traders’ strong interest and confidence in Ethereum this cycle, showcasing a bullish sentiment within the community.
Moreover, veteran trader and classical chartist Peter Brandt also made a post on X, clearly stating his long position on Ethereum. Alongside his bullish stance, he shared his entry and exit levels. According to the chart that Peter shared, he entered at $3,221.41 and has a target around the $4,063 level. Ethereum price performance analysis&nbsp; 
Despite the bullish market sentiments and continuous support from bulls and investors, Ethereum is currently trading near $3,900. In the last 24 hours, it experienced a substantial 4% price surge. Over a longer period, Ethereum’s performance has been impressive. In the last 7 days, due to the approval of the Spot Ethereum ETF by the U.S. SEC, it experienced a massive 25% upward momentum. Similarly, in the last 30 days, it saw the same 25% upside move.
Currently, data from CoinMarketCap highlights increased investor activity, as the 24-hour trading volume surged significantly by 90%, with the volume currently standing near $18 billion.
Besides Ethereum, investors are also bullish on tokens based on the Ethereum blockchain. In recent days, crypto whales, investors, and retailers have been heavily accumulating <a href="https://news.todayq.com/new-wallets-added-77-mln-of-eth-based-token-before-etf-approval-report/" rel="noopener noreferrer nofollow">Ethereum-based tokens </a>such as PEPE, ENS, ENA, AAVE, and ONDI, among others.
Additionally, the broader crypto market has shown strength and growth potential, further fueling the positive outlook for Ethereum. Institutional interest in Ethereum has been continuously rising, with several major financial firms expressing their support for the cryptocurrency. This institutional backing is expected to drive further adoption and price appreciation.

Will Ethereum hit $4,500? Here’s What Arthur Cheong predicts

Todayq News

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