The Ether meteoric rally at $ 3,600 Thursday is unlikely to withdraw as long as two key macro-conditions continue to hold, according to a healing fund manager.
“All the difficult data that arrived this week compete against a quick reversal,” Cointelegraph told Cointelegraph Thursday.
FNBs are booming and fueled uncertainty is optimistic for ether
XU underlined the growing entries in the US stock market (ETH) (ETH) (ETH) as a significant catalyst (ETH) as a significant catalyst for the upward trend in Ether prices, pointing to the entries of $ 727 million on Wednesday, the largest entry of a day since the start of the ETF trade in July 2024.
“These parts go directly to police custody and are, by definition, not available for immediate resale,” said XU. He also underlined the uncertainty around the American federal reserve like another bullish catalyst for ether.
“The macro-conditions are mixed rather than toxic,” he added. XU explained that although the consumer price index of June (ICC) has “tenured more”, the continuous pressure from American president Donald Trump on the president of the federal reserve Jerome Powell is increasingly optimistic for the crypto.
“Trump continues to press the FED to reduce rates up to three percentage points, a reminder that the risk of politics is still bowing for risk assets,” he said.
“Unless the two FNBs suddenly wedge and the FED becomes strongly a bellicist at the same time, the probability of a complete retirement such as washing at 30% in October 2024 seems weak.”
Ether is negotiated at $ 3,609 at the time of publication, up 43% in the last 30 days, according to Nansen.
However, XU claims that the chances of ether reach $ 10,000 by the end of this year are thin, despite the forecasts of several analysts.
“A target of $ 10,000 implies a 190% decision in just over five months – something ETH has only reached twice, during the ICO 2017 frenzy and the boom DEFI 202010,” said XU.
The price of $ 10,000 ether can be “a section”
This kind of movement is a stretch, “he added, but said that the possibility is open as long as strong FNB entrances continue, an exercise is added to the ether of ether, the feeling of investors moves to a more risk environment and Ethereum earns more adoption as a network:
“Acceleration of the real use of Ethereum battery: replenishment, booming and vertical layer 2 roles of fresh applications that lock more ETH from circulation and tighten the food.”
“If one of these engoca engines, the rally could exceed five figures well, but if they shoot in unison, a surprise sprint at $ 10,000 cannot be excluded,” he said.
Echoing a similar feeling, the co-founder of Sapien, Trevor Koverko, told Cointelegraph that a price of $ 10,000 per ether was speculative but not entirely out of the table.
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“It is an ambitious decision, but not impossible to assume that the ETH could even approach an evaluation of $ 10,000 if we continue to see strong macro tail winds, a wider adoption of the ETF and the continuous narrative change towards Ethereum being the dorsal spine of the next financial system,” said Koverko.
“ETH looks much less like a speculative bet now against a programmable digital asset,” he added.
Cointtelegraph recently reported that Crypto Trader Mikybull Crypto plans the price of Ether to exceed $ 7,000 and $ 10,000, based on the RSI index.
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