The crypto market is booming, with the most important coins racing to previous and new ATHs.
Ethereum is one of the big gainers today, and the coin is trading in the green. At the moment of writing this article, ETH is priced above $3,700. ETH is currently trading at $3,750, while BTC is trading above $50k.
ETH latest predictions
There are all kinds of optimistic predictions about the price of ETH these days, and some of them might seem too far-fetched, but here we go.
The online publication AMBCrypto notes that between mid-November and mid-January, ETH’s value managed to appreciate by over 250%, from $400 to over $1400.
“A hike of a similar magnitude at this stage would see ETH trading at around $8750.”
There have been various upgrades made to the Ethereum project, and these are reportedly the ones that are triggering the bulls these days.
The other day, we were revealing that ETH is hitting previous highs, and Crypto Twitter is celebrating like crazy.
#Ethereum is back above $3,500.
— Binance (@binance) September 1, 2021
Now, the coin is up by more than 6% in the past 24 hours and by more than 21% in the past week.
The popular coin is now hitting its highest level since May, causing many investors to wonder just how far this rally can go.
ETH is set up for a potential monthly-up rotation in September.
“If we can get an upward break of the recent range, it could put the 78.6% retracement on the table near $3,800. Above that and $4,000-plus is in play.”
Altcoin Daily host Aaron Arnold recently said that he believes Ethereum (ETH) is poised for a massive move up amid exponentially strong fundamental growth.
Arnold revealed that Ethereum is going through a supply shock courtesy of the EIP-1559 update.
This will permanently remove a certain amount of ETH from the circulating supply each time a transaction is processed.
Stay tuned for more ETH predictions, and keep your eyes on the market.