PANews reported on August 10th that according to Cointelegraph, after ETH broke through the $4,000 mark for the first time since the end of 2024, market sentiment rose again. Analyst Merlijn stated that ETH's price upward channel has been opened, with the current highest target price potentially set at $20,000. Additionally, trader BitBull pointed out that driven by massive short squeezes and institutional buying, it may be easier for ETH to reach a new historical high. If the weekly closing price is above the $4,100 range, a new historical high could appear within 1-2 weeks. It is understood that ETH's previous high was approximately $4,875, set in November 2021.
Analyst: ETH price target is now $20,000, or may reach a new high within 1-2 weeks
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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