With a phenomenal return this week, the bull run is gaining momentum in the Ethereum price trend. The key reason behind the bull run is the hype around the approval of Ethereum ETF given by the SEC this week.
Within a week, the Ethereum price jumped to $3,947, 53 points short of reaching the $4,000 mark. As the listing of the Ether ETF comes later this year, the anticipations for an explosion in ETH price are rising.
So, let’s have a look at the Ethereum price action and find the potential impact of the upcoming ETF listing. For additional confirmation, we have asked the latest version of ChatGPT to predict the Ethereum price trend ahead of the ETF listing.
With the remarkable bullish return of 22% this week, the 1W chart shows a massive bullish engulfing candle on the verge of piercing $4000. The Ether price surge undermines the pullback phase in April and sets a bullish tone for the next week.
Further, the remarkable jump in trading volume bolsters the bullish move and teases a new all-time high formation. Considering the buyers sustain the bull run and ignite a rally above $4000, an explosive uptrend could reach the $6854 mark or the 1.618 Fibonacci level. However, with the upcoming Ethereum ETF listings an unprecedented bull run in ETH price, similar to Bitcoin, is possible.
Hence, we asked ChatGPT to predict the ETH price ahead of Ethereum ETF.
While asking the latest version of ChatGPT about the ETH price trend around, the AI shared the basis of its prediction. With comparisons to BTC price around Bitcoin ETFs launch and the current market sentiment and technical levels, AI presents two possible trends for Ethereum.
With the immediate resistance at $4000, the AI highlights crucial resistances at $4617 and $6854.
In a conservative approach, ChatGPT prediction for Ethereum ahead of ETF listing targets $4873 and $5248. While an optimistic estimate reveals a potential 60% surge to $5998.
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