A popular crypto pseudonym analyst on X known as “Wolf described an upward roadmap for Ether, predicting the second largest cryptocurrency could reach $ 13,000 from the fourth quarter. While $ 13,000 is its optimistic scenario, the conservative target of Wolf still ETH above $ 8,000-more of its current level.
In an article based on the graph shared on Friday, Wolf said that he expects Ether to continue to rise strongly after reaching new heights of all time, although he warned a correction of 20% to 25% after this escape. He described this withdrawal as a “last shake” before a longer term rally resumes.
Support upward perspectives, institutional activity seems to be resumed. The analysis service on the “Lookonchain” channel reported on Monday that Sharplink Gaming (SBET), the company listed at NASDAQ which launched its ETH Treasury strategy on June 2, bought an additional 77,210 ETH for around $ 295 million. The company now holds 438,017 ETH – worth around 1.69 billion dollars, making it the largest company holder listed on Ether.
The purchase follows the appointment by Sharplink of the former director of Blackrock, Joseph Chalom, as a new CO-PDG last week, and came only three days after the company revealed 567 ETH won in awards of staking since it started to accumulate ether.
Meanwhile, the partner of the space-party company, Chris Burniske, noted that the feeling around Ether has changed considerably during the last month. “ETH has gone from most of the currency hated to Darling of CT in ~ 5 weeks,” he wrote, referring to the cryptographic community on X. The token has won about 73% since June 23.
Ether is currently negotiating at $ 3,884, up 2% in the last 24 hours, according to Coindesk data.
Strengths of technical analysis
- According to the Technical Analysis Data Model of Coindesk Research, the ETH has gone from $ 3,771.30 to $ 3,888.72 between July 27 at 9:00 am UTC and July 28 at 8:00 am UTC, displaying a gain of 3.11% with an intraday range of 4.91%.
- The token has crossed key resistance around $ 3,837 to $ 3,850 in strong volume, establishing a new support area and positioning ETH for a potential advance around $ 3,950 to $ 4,000.
- In the last 60 minutes of the session, ETH went from $ 3,890.61 to $ 3,898.38. A net point of $ 3,876 to $ 3,898 occurred at 08:05 UTC on a high volume, confirming a strong institutional interest at the ruin levels.
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