“Wolf outlines the Etheric bullish roadmap and is projected to reach $13,000 in the fourth quarter, the popular X crypto analyst could reach $13,000 in the fourth quarter.
In a chart-based post shared Friday, Wolf said he expects ether to continue to rise sharply after it hits a new all-time high, but warned of a 20%-25% revision after that breakout. He characterized the pullback as a “final shakeout” before the long-term gathering resumed.
Supporting a bullish outlook, institutional activity appears to be picking up. On-chain analytics service Lookonchain reported Monday that Sharplink Gaming (SBET), a NASDAQ-listed company that launched its ETH financial strategy on June 2, has purchased an additional 77,210 ETH for around $295 million. The company currently holds 438,017 ETH, worth approximately $16.9 billion.
The purchase comes just three days after Sharplink, who appointed former BlackRock executive Joseph Charom as new co-CEO last week, and revealed the 567 ETH that the company acquired by staking rewards after starting to accumulate ether.
Meanwhile, placeholder venture partner Chris Barriske noted that sentiment around ether has changed dramatically over the past month. “ETH has gone from the most hated coin in five weeks to the beloved coin of CT,” he wrote, referring to X’s crypto community. Tokens have increased by about 73% since June 23rd.
According to Coindesk data, Ether is currently at $3,884, an increase of 2% over the past 24 hours.
Technical Analysis Highlights
- According to Coindesk Research’s technical analytics data model, ETH rose from $3,771.30 to $3,888.72 to $3,888.72 on July 27th to 08:00 UTC, recording a profit of 3.11% in the 4.91% range.
- The token has broken through key resistance around $3,837-$3,850 with strong volumes, establishing a new support zone and positioning ETH for potential advancements of $3,950-$4,000.
- In the final 60 minutes of the session, ETH rose from $3,890.61 to $3,898.38. The sharp spikes ranging from $3,876 to $3,898 occurred with a rise in volume at 08:05 UTC, confirming strong institutional interest at breakout levels.
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