Analyst Predicts ETH Could Reach $13,000 by Q4

A crypto analyst known as "Wolf" predicts that ETH could reach $13,000 in Q4 2023, with a conservative target above $8,000. He expects a sharp rise after new all-time highs but warns of a 20%–25% correction as a final shakeout before a longer-term rally.

Institutional interest is increasing, highlighted by SharpLink Gaming's recent purchase of 77,210 ETH for approximately $295 million, bringing its total holdings to 438,017 ETH, valued at about $1.69 billion.

Sentiment around ETH has shifted positively, with the token gaining roughly 73% since June 23. It is currently trading at $3,884, up 2% in the past 24 hours.

Technical Analysis Highlights

ETH rose from $3,771.30 to $3,888.72 between July 27 and July 28, a gain of 3.11%.
The token broke through key resistance around $3,837–$3,850 and established new support, positioning for advancement toward $3,950–$4,000.
In the last hour of trading, ETH increased from $3,890.61 to $3,898.38, indicating strong institutional interest.