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The protocol of DeFi Deive’s Head of Research, Dr. Sean Dawson, gave a bullish forecast for the price of Ethereum. He predicted that the second largest crypto can reach $12,000 and explained how the development of Pectra can contribute to the parabolic assembly.
Ethereum To Reach $12,000 Thanks To Pectra Upgrade And Other Things
Dawson predicted that Ethereum could reach $12,000 by the end of the year due to the development of Pectra, the presidency of Donald Trump, the increase in acquisitions, and the increase in ETF penetration. According to the research analyst, this case is bullish if possible Development of Pectra you succeeded. The upgrade is designed to help scale the network and improve the user experience.
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It is given Donald Trump’s pro-crypto situation, Dawson is also convinced that the US president-elect will create a regulatory environment, which will support the further growth of Ethereum. For ETH to reach this target of $12,000, Dawson also said that Ethereum must prove widespread adoption within the industry of real assets (RWAs). The network should also be a top player in emerging fields such as DePIN and AI agents.
I Ethereum exchange rates (ETFs) also have a role to play in ETH reaching this target. Dawson pointed out that there must be a large influx of these funds. He warned that the failure of these funds to attract institutional interest could lead to a critical situation for Ethereum.
On the bearish side, the research analyst predicted that Ethereum could drop as low as $2,000 due to the lack of entry into the See ETH ETH. He noted that this could happen if these funds lose ground due to the successful launch of the Solana ETF. This is no doubt possible, considering how Solana dominated last year in terms of network activity.
Dawson warned that other layer-1 networks are challenging Ethereum’s market share, though he added that this could offer higher risk and reward opportunities.
ETH Is Still Bullish Despite Recent Market Downtrend
Crypto analysts have suggested that Ethereum still has a bullish outlook despite recent market declines. In an X post, crypto analyst Moon Carl said that despite the recent rejection, ETH is still trading within symmetrical triangle in the Daily schedule. The analyst added that if the support holds, it is possible to expect a bullish result of $4,100.
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Crypto Analyst The Cryptomist is also building a new way for Ethereum to reach a new level all time high (ATH). He highlighted a large falling wedge, which played with symmetrical deviations. He added that ETH could retest the broken level, then reject support and enter a 4-hour bullish divergence and jump to a new ATH.
At the time of writing, the price of Ethereum is trading at around $3,300, until 24 hours ago, according to the report. data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com