Ethereum
ChatGPT Predicts Massive Ethereum Price Rise Ahead of ETF Listing
With a phenomenal comeback this week, the uptrend is gaining momentum in the Ethereum price trend. The main reason for this uptrend is the hype surrounding the Ethereum ETF approval given by the SEC this week.
In one week, the price of Ethereum climbed to $3,947, 53 points short of reaching the $4,000 mark. With the Ether ETF listing taking place later this year, expectations of an ETH price explosion are growing.
So let’s take a look at Ethereum’s price action and find out the potential impact of the ETF’s upcoming listing. For further confirmation, we asked the latest version of ChatGPT to predict the price trend of Ethereum before the ETF listing.
Weekly 22% Jumps Prepare Ether for $4,000 Breakout
With the remarkable 22% bullish return this week, the 1W chart shows a huge bullish engulfing candle about to cross $4,000. The Ether price surge jeopardizes the April pullback phase and sets a bullish tone for next week.
In addition, the remarkable increase in trading volume reinforces the bullish movement and suggests a new record formation. As buyers maintain the uptrend and trigger a rally above $4,000, an explosive uptrend could reach the $6,854 mark or the 1.618 Fibonacci level. However, with the upcoming Ethereum ETF listings, an unprecedented rise in the price of ETH, similar to that of Bitcoin, is possible.
Therefore, we asked ChatGPT to predict the price of ETH before that of the Ethereum ETF.
Ethereum ETF Rally Prediction by ChatGPT
When querying the latest version of ChatGPT about the ETH price trend, the AI shared the basis for its prediction. By comparing the BTC price around the launch of Bitcoin ETFs and current market sentiment and technical levels, the AI presents two possible trends for Ethereum.
With immediate resistance at $4,000, the AI highlights crucial resistances at $4,617 and $6,854.
Taking a conservative approach, the ChatGPT prediction for Ethereum before the ETF listing targets $4,873 and $5,248. While an optimistic estimate reveals a potential upside of 60% to $5,998.