Ethereum
Ethereum Price Forecast: Can ETH Reach $4,000 in May 2024?
This historical precedent lends credence to the bullish stance that ETH price could benefit from the continued rise of new smart contracts once the FUD surrounding the Grayscale ETH ETF app takedown cools down.
ETH Price Forecast: $4,000 Bounce Still in Sight?
At the time of writing on May 7, Ethereum price was struggling to hold above the $3,000 support. But, in light of the more than 100,000 new Ethereum smart contracts created in May, the price of ETH is expected to quickly rebound towards $4,000.
IntoTheBlock’s global money inflow/outflow chart aggregates all existing ETH holders based on their entry prices. As shown in the chart below, a large group of 1.97 active addresses acquired 1.41 million ETH at a minimum price of $2,903.
In the short term, Ethereum price could avoid a reversal below $2,900 if investors in this cluster choose to defend their positions.