Ethereum Trading Below $5,000 as Analysts Predict Surge Towards $5,500

Ethereum (ETH) is currently trading around $4,000 after a rejection at $4,946 on August 24. Analysts suggest a potential surge beyond $5,000 due to rising illiquid supply and positive ETF momentum.

Price Predictions

ETH's upswing in August was fueled by a broader market rally and positive ETF inflows.
Binance reserves for ETH increased sharply, indicating holders are selling or taking profits.
The majority of ETH supply remains illiquid, creating a structural supply shortage.
A small increase in liquid supply may lead to short-term selling pressure.
A decisive break above the $4,800 resistance could push ETH toward $5,200 - $5,500.
Sideways to slightly bullish movement is expected in September, with levels ranging from $4,300 to $5,000.
A failure to break $4,800 could result in a correction to $4,200.

Market Activity

On-chain data shows significant accumulation by whales, with 260,000 ETH added on September 1.
Joseph Lubin, co-founder of Ethereum, predicts that ETH could potentially increase 100x.
Currently, ETH trades at $4,429, reflecting a 2% rise in the past 24 hours.

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