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Ethereum's chances of reaching $5,000 by the end of 2024 have fallen to under 10%, despite significant ETF inflows, including $305 million on December 10. While some traders remain optimistic about a price surge, analysts note that a 37% increase is necessary to hit the target. Institutional interest continues to grow, with Fidelity contributing over $202 million to recent inflows, suggesting a potential supply crisis that could impact prices.
Ethereum's chances of reaching $5,000 by year-end have dropped to just over 8%, down from a peak of 16%, according to Derive. Despite significant inflows into Ether ETFs, traders express mixed sentiments, with some still targeting the $5,000 mark. Notably, $305 million in daily ETF inflows, primarily from Fidelity, suggests a potential supply-side crisis ahead.
Ethereum has experienced a significant breakout on its weekly chart, leading analysts to predict a potential bull run with a midterm target of $10,000. The recent surge in price, surpassing $4,000, is attributed to increased ETF inflows and improved market sentiment, alongside a notable rise in active addresses. As Ethereum approaches its previous all-time high, traders remain optimistic about its sustained momentum and further gains.
Ethereum's price is showing signs of potential growth, with traders speculating a possible retest of its all-time high of $4,878 within the next week. Currently priced at $3,946, a 24% weekly gain would be needed to reach this milestone. Analysts note that Ether's recent breakout past $4,000 and structural changes in the market could lead to significant upward movement, with minimal resistance ahead.
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