A popular pseudonym Crypto analyst at X known as “Wolf has outlined a bullish timetable for ether that predicts the second largest cryptocurrency could hit $ 13,000 already in the fourth quarter. While $ 13,000 is his optimistic scenario, Wolf’s conservative target still sets over $ 8,000 more than twice.
In a short-based post that was shared on Friday, Wolf said he expects Ether to continue to rise sharply after reaching new high all-time, although he warned of a correction of 20% -25% after this breakout. He characterized this withdrawal as a “final shaking” before a longer term rally resumes.
Supporting the bullish prospects seems to be collected institutional activity. On-Chain Analysis Service “Lookonchain” reported on Monday that Sharplink Gaming (SBet), the NASDAQ-listed company that launched its Eth Treasury strategy on June 2, had bought another 77,210 ETH for approx. $ 295 million. The company now has 438,017 ETH – worth approx. $ 1.69 billion – making it the biggest publicly traded business owner of Ether.
The acquisition follows Sharplink’s appointment of former Blackrock director Joseph Chalom as his new Co-Ceo last week, and came only three days after the company revealed 567 ETH, which deserved in poor pays since it began to accumulate Ether.
Meanwhile, placeholder partner Chris Burnke noted that the mood around Ether has changed dramatically over the past month. “ETH went from most hated coins to Tax on CT about 5 weeks,” he wrote, referring to the Crypto community at X. Token has received approx. 73% since June 23.
Ether is currently trading for $ 3,884, an increase of 2% over the last 24 hours, according to Coindesk data.
Technical analysis highlights
- According to Coindesk Research’s Technical Analysis Data Model, ETH climbed from $ 3,771.30 to $ 3,888.72 between July 27 at 1 p.m. 09:00 UTC and July 28 at. 08:00 UTC and sent a gain of 3.11% with a 4.91% intraday area.
- The token broke through the key resistance around $ 3,837- $ 3,850 on a strong volume, establishing a new support zone and placing ETH for a potential progress against $ 3,950- $ 4,000.
- In the last 60 minutes of the session, ETH rose from $ 3,890.61 to $ 3,898.38. A sharp increase from $ 3,876 to $ 3,898 occurred at. 08:05 UTC on elevated volume, which confirms strong institutional interest at breakout levels.
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