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The head of research at the DeFi protocol, Dr. Sean Dawson, made a bullish prediction for the price of Ethereum. And he expected that The second largest cryptocurrency It could go as high as $12,000, and he explained how the Pectra upgrade could contribute to the equivalent upside.
Ethereum hits $12,000 thanks to Pectra upgrade and other factors
Dawson anticipation That Ethereum could reach $12,000 by the end of the year thanks to Pectra’s upgrade, Donald Trump’s presidency, increased adoption, and increased ETF inflows. According to the research analyst, this bullish case is possible if… Promotion of bacteria successful. The upgrade is intended to help expand network reach and enhance user experience.
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grant Donald Trump is pro-encryption However, Dawson is also confident that the US President-elect will create a regulation-friendly environment, which would support further growth for Ethereum. For ETH to reach this $12,000 target, Dawson also said that Ethereum must see wider adoption in the real-world assets (RWAs) industry. The network should also become a major player in emerging sectors such as DePIN and AI agents.
the Ethereum ETFs (ETFs) also have a role to play in ETH reaching this goal. Dawson stated that there should be greater flows into these funds. He warned that the failure of these funds to attract institutional interest could lead to a bearish situation for Ethereum.
As for the bearish case, the research analyst expects Ethereum to fall to a low of $2,000 due to lack of market inflows. ETH ETFs. He noted that this could happen if these funds lose steam due to the successful launch of the Solana ETF. There is no doubt that this remains a possibility, considering the extent of Solana’s control over network activity in the past year.
Dawson warned that other tier-1 networks are challenging Ethereum’s market share, though he added that this may offer higher risk-reward opportunities.
ETH remains bullish despite the recent market downtrend
Cryptocurrency analysts have noted that Ethereum still has a bullish outlook despite the recent downward trend in the market. In X’s post, cryptocurrency analyst Moon Carl mentioned that despite the recent dump, ETH is still trading within a range Symmetrical triangle On the daily time frame. The analyst added that if the support holds, a breakout can be expected with an upside target of $4,100.
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Cryptocurrency analyst The Cryptomist also charted a path for Ethereum to reach a new high All time high (ATH). It highlighted a large falling wedge, which was playing with symmetrical divergences. She added that ETH could retest the broken level, then reject support and enter a 4-hour oversold bullish divergence and then rebound to a new ATH.
At the time of writing, Ethereum’s price is trading at around $3,300, rising over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com
