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Ethereum to Reach $4.5K ‘Is Possible’ in Q3, Analysts Say
A recent analysis suggests that Ethereum’s price may surge to $4,500 by the end of the third quarter (Q3) as analysts predict a potential 51% rally from its current levels.
According to BitBull, Ethereum has consistently rejected attempts at breaking through its multi-year resistance level. While this rejection may seem discouraging for some investors, BitBull believes that this consolidation is typical and necessary before the next leg up begins.
The analyst notes that such pauses in price action are usually followed by a significant move higher, as these moments allow early buyers to take profits while new whales enter the market. Based on this scenario, BitBull projects that Ethereum could potentially reach $4,300-$4,500.
A recent technical analysis also highlights Ethereum’s formation of a falling wedge pattern on its four-hour chart, which often signals a potential 51% upside move. This structure is commonly seen in an uptrend, as it consolidates prior gains before resuming upward movement.
Furthermore, the token’s Relative Strength Index (RSI) has recently rebounded above the 50 level, indicating growing buying interest and a shift toward bullish momentum in the short term.
Source: coinchapter.com
