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A prominent pseudonymous crypto analyst known as “Wolf” has set an ambitious price target for Ethereum (ETH), predicting that the second-largest cryptocurrency could reach an impressive $13,000 as early as the fourth quarter of this year. While this optimistic scenario has garnered attention, Wolf also presented a more conservative target of $8,000, which would still represent a significant increase from current levels.
Ethereum’s Bullish Roadmap
In a detailed chart-based analysis shared on social media platform X, Wolf outlined a bullish roadmap for ETH, indicating a sustained upward trajectory following the anticipated new all-time highs. However, he cautioned investors to prepare for a possible 20% to 25% correction after the breakout, characterizing this pullback as a “final shakeout” before Ethereum embarks on a longer-term rally.
Institutional Interest Fuels Optimism
Adding credence to Wolf’s bullish outlook, institutional activity has notably surged in recent weeks. On-chain analysis service Lookonchain reported that SharpLink Gaming (SBET), a Nasdaq-listed company, has significantly bolstered its ETH holdings. Since launching its ETH treasury strategy on June 2, the company acquired an additional 77,210 ETH for approximately $295 million, bringing its total holdings to 438,017 ETH, valued at around $1.69 billion. This acquisition makes SharpLink the largest publicly traded corporate holder of Ethereum.
Market Sentiment Shifts
Market sentiment around Ethereum has undergone a dramatic transformation over the past month. Chris Burniske, a partner at Placeholder Ventures, noted that “ETH went from most hated coin to darling of CT in ~5 weeks.” This shift in perception coincides with Ethereum’s remarkable price increase of about 73% since June 23, with the token currently trading at $3,884, reflecting a 2% rise in the last 24 hours, according to CoinDesk data.
Technical Analysis Insights
According to technical analysis data from CoinDesk Research, Ethereum climbed from $3,771.30 to $3,888.72 between July 27 at 09:00 UTC and July 28 at 08:00 UTC, marking a 3.11% gain with a 4.91% intraday range. The token broke through key resistance levels between $3,837 and $3,850 on strong trading volume, establishing a new support zone that positions ETH for a potential advance toward the $3,950 to $4,000 range.
In the final hour of the trading session, ETH experienced a surge, rising from $3,890.61 to $3,898.38. Notably, a sharp spike from $3,876 to $3,898 occurred at 08:05 UTC, confirming robust institutional interest at these breakout levels. This technical momentum, combined with the bullish predictions, creates a compelling narrative for Ethereum investors.
Conclusion: A Bullish Future for Ethereum?
As Ethereum continues to gain traction among institutional investors and retail traders alike, the forecasts of a $13,000 price point by Q4 and a conservative target of $8,000 reflect growing optimism in the crypto market. The anticipated correction, while cautionary, may serve as a necessary step in Ethereum’s journey to new heights. For those interested in investing in Ethereum, understanding market dynamics and price predictions is crucial for making informed decisions.
For more information on how to buy Ethereum, check out our guide on How to Buy Ethereum.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Meta Description: **Discover Ethereum’s bullish potential as analyst Wolf predicts a rise to $13K by Q4, with an $8K conservative target. Explore institutional interest and market sentiment driving ETH’s growth.**
