The long consolidation period for Ethereum’s price might finally come to a close as experts project a price breakout of up to $6k this year in the coming bull cycle. However, while Ethereum prices have shown a strong potential for a breakout in the last few days, recording a 17% weekly gain, is $6k a realistic price? This question remains a tough nut to crack, following the rising competition and slow reaction of the Ethereum price to whale activity.
However, the coming bull cycle might have some fundamental factors to support an Ethereum price surge beyond the last ATH. Here is a detailed look at the analysis and the way forward.
Effect of The ETF and Institutional Demand on Ethereum Price
The Ethereum ETF has shown a strong acceptance of the crypto asset so far this year, with over $200M flowing into the ETF on July 9 alone. This strong ETF inflow has continued fueling a bullish sentiment, showing institutional demand and growing adoption across the global financial market. However, while the ETF inflow continues rising, the price has remained below $3k, raising concerns about the factors necessary for pushing the Ethereum price higher.
However, some analysts believe a big surge is coming as the price could be taking a slow reaction to the buying demand and many of these analysts believe the surge could be starting already. Following this analysis, the Ethereum price chart also shows a new candle, which could be pointing towards a price breakout, with the weekly chart showing a breakout above the 100 SMA. And with over $25M investment from Fidelity and $7M call option on Ethereum price hitting $6k by December, the bulls might finally be taking shape.
Where Is Ethereum Going From Here?
While on-chain and other fundamental indicators speculate that the Ethereum price could be ready for a $6k run, growing competition and regulatory issues could be another issue. Also, while the current breakout sees the Ethereum price trading at $2,986, a reversal that sees a break of the $2,770 support might spell doom for the surge prediction. However, current analysis and institutional demands show that the Ethereum price might be appropriately positioned for a surge.
Why Remittix Is Worth A Check
As the bull market starts taking a proper form, Remittix repeatedly shows up in top experts’ analysis as a low-cap project set for bigger growth. This is because of the growing support and utility experts believe could be a template for the future of crypto payments. Combining crypto and local payment services, the Remittix project makes it easy for crypto traders to send fiat using their crypto assets to local bank accounts across the world.
However, being a low-cap defi project with a next-level solution, experts believe Remittix could be the next 100x project. As the Remittix token presale comes close to hitting centralized and decentralized exchanges, analysts are projecting a high surge rate, suggesting it could be the next big altcoin of 2025.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
