Hi Guys,
IT'S BIG & BIG #alert ABOUT $ETH TO $4000 !!!
Ethereum price prediction: Is $4000 next after ETH’s +17% hike?
Significant trading activity has trailed Ethereum in the past 24 hours as it attempts to reclaim the $3700 price level.
Ethereum [ETH] has rallied to a two-month high after Bloomberg analysts increased the odds of the Ethereum Exchange Traded Fund’s (ETF) successful launch.
In a post on X (formerly Twitter) on 20th May, Eric Balchunas, a senior analyst at Bloomberg, raised the approval odds for the Ethereum exchange-traded fund (ETF) from 25% to 75%.
Balchunas posted on the social media platform following reports that the United States Securities and Exchange Commission had asked aspiring ETH ETF applicants to update their 19b-4 filings ahead of the deadline this week.
ETH in the last 24 hours
At press time, ETH exchanged hands at $3,648, recording a 17% price hike in the past 24 hours, according to CoinMarketCap’s data. Due to the surge in the coin’s trading activity in the last 24 hours, its trading volume has grown by over 200% during that period.
According to Santiment, ETH’s trading volume has totaled $37 billion, representing its highest since 5th March.
Ethereum Trading Volume
Source: Santiment
During the intraday trading period on 20th May, ETH’s price traded briefly above $3700. This uptick led to the liquidations of several short positions held in the coin’s futures market.
According to Coinglass data, the amount of ETH’s short liquidations climbed to a year-to-date high of $81 million on that day. In comparison, the amount of long positions liquidated on the same day was $26 million.
