Ethereum Price Prediction- Bulls Target $5,400 Amid DeFi Revival and Soaring TVL
The post Ethereum Price Prediction- Bulls Target $5,400 Amid DeFi Revival and Soaring TVL appeared on BitcoinEthereumNews.com. Ethereum (ETH) trades at $3,821 today, July 30, with a 53% gain in one month. Ethereum price gains in July have been due to multiple factors like altcoin season chatter and demand from institutions. However, a new bullish factor, DeFi resurgence, has entered the picture, and it might not only help ETH reclaim $4,000 but push it to $5,400. Ethereum Price Aims for $5,400 With Bullish Reversal Setup Ethereum has created an inverted head and shoulders. That means there is a bullish reversal happening now. It completed the first stage when the price moved past $2,750. Now that $2,750 was confirmed as support, the second stage is now at play. Here, ETH price might surge by 98% to $5,400. This price target is realized from the height of the head’s lowest point, $1,385 to $2,750. However, this does not mean that such a rally will not be without hiccups. Firstly, Ethereum will have to cross above $4,000. Since 2021, ETH has not had an easy time pushing past $4,000. If it manages to do this, the next stop will be at the November 2021 high of $4,800. Afterwards, bulls might target $5,400. Therefore, even before the rally to $5,400 starts, a 5.3% upswing from today’s price of $3,821 to $4,000 is the main move to watch. Until this happens, getting to $5,400 will remain a pipe dream. ETH/USDT: 1-day Chart (Source: Tradingview) This Ethereum price forecast is also made more likely to happen because of the RSI. In most cases, a 53% rally causes an overbought RSI. However, at 69, the RSI has left space for the ETH price to extend gains. Looking at what happened in the Q1s of 2021 and 2024, the RSI did not warn about a reversal until it moved past 80. Therefore, buyers are not…
The post Ethereum Price Prediction- Bulls Target $5,400 Amid DeFi Revival and Soaring TVL appeared on BitcoinEthereumNews.com.
Ethereum (ETH) trades at $3,821 today, July 30, with a 53% gain in one month. Ethereum price gains in July have been due to multiple factors like altcoin season chatter and demand from institutions. However, a new bullish factor, DeFi resurgence, has entered the picture, and it might not only help ETH reclaim $4,000 but push it to $5,400. Ethereum Price Aims for $5,400 With Bullish Reversal Setup Ethereum has created an inverted head and shoulders. That means there is a bullish reversal happening now. It completed the first stage when the price moved past $2,750. Now that $2,750 was confirmed as support, the second stage is now at play. Here, ETH price might surge by 98% to $5,400. This price target is realized from the height of the head’s lowest point, $1,385 to $2,750. However, this does not mean that such a rally will not be without hiccups. Firstly, Ethereum will have to cross above $4,000. Since 2021, ETH has not had an easy time pushing past $4,000. If it manages to do this, the next stop will be at the November 2021 high of $4,800. Afterwards, bulls might target $5,400. Therefore, even before the rally to $5,400 starts, a 5.3% upswing from today’s price of $3,821 to $4,000 is the main move to watch. Until this happens, getting to $5,400 will remain a pipe dream. ETH/USDT: 1-day Chart (Source: Tradingview) This Ethereum price forecast is also made more likely to happen because of the RSI. In most cases, a 53% rally causes an overbought RSI. However, at 69, the RSI has left space for the ETH price to extend gains. Looking at what happened in the Q1s of 2021 and 2024, the RSI did not warn about a reversal until it moved past 80. Therefore, buyers are not…
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