Analyst Says ETH Could Hit $13K as Early as Q4, With $8K as His Conservative Target
Ether (ETH) Price Prediction: A Bullish Outlook
A prominent crypto analyst, “Wolf,” on X, forecasts a significant price surge for ether, projecting a potential rise to $13,000 by the fourth quarter of 2024. While this represents an optimistic scenario, even his conservative estimate places ETH above $8,000—a substantial increase from its current price. Wolf anticipates continued growth following new all-time highs, though he cautions about a potential 20-25% correction afterward, viewing this as a “final shakeout” before further rallies.
This bullish sentiment is supported by increasing institutional activity. SharpLink Gaming (SBET), a Nasdaq-listed company, recently added 77,210 ETH to its treasury, bringing its total ETH holdings to 438,017, valued at approximately $1.69 billion. This makes SBET the largest publicly traded corporate holder of ether. This significant purchase follows the appointment of a former BlackRock executive as co-CEO and comes shortly after the company reported substantial staking rewards.
The overall sentiment surrounding ETH has shifted dramatically. According to Chris Burniske of Placeholder Ventures, ETH’s perception within the crypto community has changed from “most hated coin” to a “darling” in just five weeks. This positive sentiment is reflected in ETH’s approximately 73% price increase since June 23. At the time of writing, ETH trades at $3,884, showing a 2% increase over the past 24 hours.
Technical analysis from CoinDesk Research indicates a positive trend. Between July 27 and 28, ETH experienced a 3.11% gain, breaking through key resistance levels with strong volume. This breakout established a new support zone, suggesting a potential move toward $3,950–$4,000. A sharp price spike during the final hour of the trading session further reinforced this positive momentum, indicating significant institutional buying pressure. The strong volume accompanying these price increases further validates the bullish outlook. The confluence of positive sentiment, institutional investment, and technical analysis strongly suggests a potential for continued growth in the price of ether.
