ETH Eyes the $4,000 Mark as Recent Crypto Developments Push Its Price High

ETH took one of the worst hits due to the recent market slump. However, recent crypto developments have pushed its price high, and it is currently hovering at $2700 and eyeing the $4,000 mark.

Cryptocurrency prices have taken a hit in recent times, with Bitcoin (BTC) prices dropping below the $40,000 mark. However, some coins have managed to stay afloat and even push through to higher prices. One such coin is Ethereum (ETH), which has seen some interesting developments recently.

After rising above the $2,000 mark earlier this year, ETH took one of the worst hits due to the recent market slump. However, recent crypto developments have pushed its price high, and it is currently hovering at $2700 and eyeing the $4,000 mark. As a result, investors are waiting with bated breath. If ETH manages to break the said mark, then the coin could be skyrocketing its price to a whole different level.

In other words, if ETH breaks through the $4,000 mark, it could reach an all-time high. This could be great for investors who have stakes in it. This mark could propel the earnings. However, this is not the first time such speculation has been made.

Earlier this year, ETH was supposed to break through the $6,000 mark. However, that came to a screeching halt due to major market turmoil.

Journey To The $4000 Mark

Earlier this year, analysts like Ali Charts predicted the crypto asset could break through to the $6,000 mark. Ali shared a picture of a graph and stated that “If #Ethereum $ETH is following an ascending parallel channel, a dip to the lower boundary at $2,800 could act as a launchpad for a move toward $6,000.”

However, that all came crashing down as a trade war between major world economies appeared out of nowhere.

Like before, analysts believe crossing the $4,000 mark can be challenging for the token. However, if the token does manage to break this price cap, then ETH could move towards a more bullish market. As per Ali Charts, pushing through the $4,000 mark will mean that the coin could easily reach the $7,400 mark and the $10,000 mark easily.

Will The Price Hike?

The chances of ETH prices rising are real and optimistic. Recently, CBOE BZX presented an application to the SEC for some rule changes to list ETH. This could make acquiring ETH easy and hassle-free.

Therefore, this newfound institutional interest in ETH is like a blessing. This means more and more exchanges will list ETH, with the US government backing the endeavor.

So right now, ETH might be groveling in the $2,350 to $2,800 range, but it can certainly change gears and make a bullish run with the help of institutional interest and positive market trends. As a result, now is the ripe time to invest in ETH as a long-form investment. Follow us for more crypto news.