Can Ethereum (ETH) Price Touch $5,000 Before The Year Ends?

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Ethereum, the second most popular cryptocurrency, bled as the overall market trend turned downward after hitting an all-time high. Since then, ETH price has been looking for a safe enough ground for the bulls to rally and support the price action.

Ethereum Price Prospects

While Ethereum price bounced off the $3,687 level, it kept its target of setting ATH alive until the end of the year. Ethereum bulls are trying to take control as a result of the asset price moving in the uncertain direction and direction. ETH got rid of investors who were touted as skinny and weak hands as it hit a new low for the last part of the year, following a 10% price change within a week.

However, the bulls jumped onto the train of opportunity at $3,687 following the tone change from the US central bank. However, attempts are underway to go above $4,063. Also, this pace of bulls could overheat the RSI indicator, preventing ETH price action from reaching all-time highs for 2021.

Expected Level in 2022

According to experts, Ethereum may reach the level of $ 5,000 in the new year. In this context, 2022 is seeing record levels for ETH, and factors such as more investor interest and buying pressure are expected to fall into the hands of the bulls. What could hinder this rally will be the pressure on overall risk sentiment from the more negative Omicron or other COVID-related headlines.

It can be difficult for investors to exit positions while liquidity decreases. It could cause sudden corrections with the ETH price which could trigger further selling. On the other hand, a test of $3,391 could push the price of the largest altcoin to the psychological support level of $3,000.