Ethereum Price Prediction as Experts Predict Lower ETF Inflows Than Bitcoin – Here’s Why

cryptonews.com:

ETH has remained mostly flat today, with the Ethereum price sticking close to $3,800 and posting a very slight 0.2% gain in 24 hours.

The market’s biggest altcoin is also actually down by 2.5% in the past week, with analysts at JPMorgan predicting on Thursday that the initial market reaction to the launch of Ethereum ETFs could be negative, with the new ETFs attracting less volume than their Bitcoin counterparts.

Still, ETH remains up by 22% in a week and by 100% in a year, while the medium- and long-term effect of Ethereum ETFs will undoubtedly be to drive demand for the altcoin.

We could therefore see it make big gains in the coming months, potentially breaking its current ATH by the end of the year.

ETH’s chart looks very bullish today, despite the coin’s failure to really do anything significant over the past 24 hours.

Probably the most salient feature is the fact that the resistance (red) and support (green) levels have almost converged on each other, suggesting that a breakout is imminent.

Supporting this hopefulness is ETH’s relative strength index (purple), which has risen from 40 yesterday evening and looks ready to pass 60 in the next few hours and possibly touch 70 in the next day or so.

This would imply some decent short-term gains, something which is probable insofar as the coin’s volume is very shallow today, making it vulnerable to big moves.

Given that volume is low for ETH, a big purchase from a whale could send it shooting upwards, although the latest indications are that whales are still more inclined to sell at the moment.