ETH Price Could Hit New Highs Soon: Here’s Why


Key with you:

  • On Friday, ETH increased 13% after the chairman of the Jerome Powell Jackson Hole federal reserve system indicated the speech in September at the interest rate.

  • Onchain and technical indicators signal the potential of Ether to hit $ 6,000 in the short term.

Ether (Eth) The price showed strength on Wall Street open on Friday and after the Jackson Hole’s speech, the federal reserve chairman Jerome Powell grew by 13% to $ 4,788.

The price of ETH gathered from $ 4,200 in a few minutes, regenerated $ 4,600, a level that has suppressed the price in the last seven days, for data from COINTELEGRAPH Markets for and Tradingview.

Markets, interest rate, altcoins watch, ether price, price Ethereum, Ethereum ETF, ETF
Weekly Graph ETH/USD. Source: Cointlelegraph/Tradingview

These performances are governed by the Powell Jackson Hole speech, where he indicated in September a potential reduction in interest rates and signaled Doviš’s attitude that strengthened market optimism.

According to the CME Group reduced interest rates to 17 September FOMC sessions now to 91.5% of 75% per day Fedwatch.

Target options for FomC 17 September. Source: CME Group

This increases the encouraging bull sentiment that could potentially bring ETH to the new maximum.

ETH intersects $ 4,600 with a “divine candle” said Analyst Elisa in response to Ether’s response and adding:

Several bulls suggest that ETH is well placed break out toward fresh maxima in the following days or weeks.

Continuing spot tide ETF back price ETH upside down

One of the factors supporting Ether’s bull is the persistent institutional demand that is reflected in a significant tide to a place Funds traded on the Ethereum Stock Exchange (ETF).

Spot Ether ETF has seen the tide of $ 287.6 million 21st August broke a four -day drain. These investment products have seen Pure tide in total amount of $ 2.55 billion Monthly according to data from Farside investors.

Spot Ethereum ETF flow. Source: Farside Investors

As cutelegraph reportedEther continued dominance of global stock market products (ETP) last week with an influx in the total amount of $ 2.9 billion, which meant a growing investor appetite altcoin ETPS.

Related: EU Explore Ethereum, Solana to Start Digital Euro: FT

Supplementary plum

ETH balances on the stock exchanges dropped to nine -year minimum and for the first time since July 2016 dropped to 14.9 million ETH, for the first time, Data Glassnode show.

ETH van on stock exchanges. Source: Glassnode

The total balance between the tides and the tides in and out of all the known stock exchanges shows a sharp decline since October 2023, when the collection from the trading platforms began to appear. This decline is accompanied by an 180% increase in the price of Ether for the same time period.

Reduction of Ether supplies on stock exchanges can signaling the incoming price rally According to Krypto Investor Crypto Virtuos, it is powered by a “lack of offer” that occurs when the strong demand for the buyer meets the reduction of available ETH.

“The amount of $ ETH held on centralized exchanges dropped to the lowest level in 9 years,” Crypto Virtuos said In Monday’s post on X.

This means that more people have decided to hold and look ETH for a long time, resulting in less ETH for sale.

“The chance that the lack of offer will come. Is ETH ready for your next big move?”

Places to escape from the bull flags ETH the price of a goal over $ 6,000

From a technical point of view, Ether’s price action was verified and bull flag Pattern for daily chart.

Daily graph ETH/USD. Source: Cointlelegraph/Tradingview

The Bull flag was solved when the price fell apart from the upper trend line to $ 4,300. ETH could then rise as well as the previous uptrend height. This puts the upper target for Altcoin at $ 6,150 – by 43% of the current price.

In addition, daily Relative force index It is positive at 66. This suggests that market conditions still prefer upside down and increase Ether’s chances of achieving the target of the bull flag.

The popular merchant Merlijn trader had an ambition for Ether and said that breakup from a four -year descending descending connection with the Bull Cross from MacD to the lunar chart increases to the assembly towards $ 10,000.

Other analysts also predict this Ether could reach $ 10,000 and then In 2025, quoting institutional demand over Spot Ethereum ETF and ETH TREASURY Companies It remains significantly strong, suggesting that the bull market sentiment.

This article does not contain investment counseling or recommendations. Every investment and business step includes a risk and readers should do their own research in decision -making.