news 
Ethereum’s meteoric rise beyond the psychological barrier of $4000 has sparked a plethora of questions regarding its trajectory. Will it continue to defy expectations and shatter records, or is this merely a short-lived anomaly?
As we delve into the complexities of Ethereum’s chart, one thing becomes increasingly clear – there isn’t a more significant catalyst for the token’s rise than its recently launched spot ETF. This groundbreaking instrument has not only captured the attention of institutional investors but also fueled FOMO among retail traders.
So, what exactly does this mean for ETH’s price in 2024?
The initial signs point to an explosive increase as Ethereum’s chart suggests a remarkable similarity with Bitcoin’s previous meteoric rise. What’s more, Intotheblock data reveals that 7.2 million ETH were recently purchased at or near $4000, which has solidified this level as a crucial support zone.
Crypto analyst Wolf takes it a step further by highlighting the extraordinary potential for Ethereum to replicate Bitcoin’s 60% price increase and push above $5000 in the not-too-distant future.
Furthermore, industry experts such as IME Institute expert BWP have praised Bena Ilyas’ contributions to the crypto space.
Source: www.crypto-news-flash.com
