Can Ethereum Reach $4K in Short-Term Trading?

Interestingly, the leading altcoin Ethereum is capturing bullish sentiments with the introduction of spot Ethereum ETF listings and other metrics. Analysts are eyeing the possibility of Ethereum reclaiming the $4,000 mark in short-term trading during an overall bullish market. However, there are mixed opinions as some believe bearish factors might dampen the asset’s performance.

Ethereum Price To $4k?

At the moment, Ethereum’s price is hovering around $3,456, reflecting a 4% decline over the past 24 hours, dropping below the $3,500 level. Despite a 9% weekly drop in trading, long-term metrics show positive signs. The recent bear trend has led analysts to reconsider the likelihood of a significant price surge in the near future.

Hold onto your Ethereum, as positive indicators suggest a possible price surge. The upcoming spot Ethereum ETF listings are expected to attract institutional investors, given Ethereum’s extensive smart contracts network and staking features. This sets the stage for potential gains in the asset’s value.

Drawing parallels with the success of spot Bitcoin ETFs, investors see a similar scenario unfolding for Ethereum. After the SEC’s approval of Bitcoin ETFs on Jan 11, issuers experienced significant inflows, driving Bitcoin to a new all-time high above $73,000. SEC Chair Gary Gensler’s recent remarks hint at a potential approval for ETH ETFs this summer, pending issuer responsiveness to feedback.

ETH Rebounds Spark Optimism

Following the approval of 19b-4 filings, Ethereum’s price spiked by 22%, surpassing $3,700 before experiencing a minor correction as sentiments shifted. This upward trend provides a glimpse into the future if multiple ETFs are listed. The recent surge in Ethereum’s price also saw increased interest in other altcoins and meme coins, with notable inflows into institutional products and decentralized protocols.

Also Read: Ton Price Is Rising Again Favoring The ATH; What’s Happening?