[Ethereum Bullish Momentum Expected to Hit $4,000: Analysts Predict $15,000]
Ethereum (ETH) price recently rose to $3,388.02, demonstrating a strong bullish trend, but technical analysis points to a possible short-term pullback. The trading price has broken through the upper track of the Bollinger Band, and the relative strength index (RSI) reached 71.95, indicating that the market is overbought and the buying pressure may weaken.
The key resistance level currently stands at $3,388.02, and a breakout, accompanied by increased trading volume, could further push the price towards $4,000. If prices pull back, the middle Bollinger Band level at $2,743.95 and the 20-day moving average will serve as important support areas, with a hold above this area solidifying the bulls' base.
The upcoming Pectra upgrade is considered the most important update in Ethereum’s history and will enhance network security, scalable functionality, and functionality. This upgrade includes a number of improvement proposals that are expected to improve performance, increase transaction capacity and reduce fuel costs, solving existing network pain points. Analysts believe that this will attract more developers and users, increase the intrinsic value of Ethereum and support higher prices.
AstroCryptoGuru predicts that the Pectra upgrade will help ETH prices rise to $4,000, while Nir7an is more optimistic about its long-term performance, believing that Ethereum prices may reach $15,000 in this cycle.
Overall, Ethereum's technical chart pattern, the growth in market demand brought about by upgrades, and the interest of institutional investors provide a good foundation for its sharp rise in the next few years.
