Ethereum News Today: Ethereum Surges Past $4,000 Eyes $7,000 as BlackRock Buys $150K ETH

The cryptocurrency market has shown renewed vigor, with Ethereum (ETH) leading the charge as it nears the $4,500 mark. Analysts and traders are closely watching the digital asset, which has already broken through a key resistance of $4,000, signaling a potential upward trajectory toward $7,000. This movement has been supported by institutional demand, including a high-profile $150,000 ETH purchase by BlackRock, and has triggered record inflows into Ethereum-based ETFs [1]. The recent consolidation around $4,300 suggests a possible continuation of bullish momentum, as long as price remains above critical support levels [2].

Chainlink (LINK) and Dogecoin (DOGE) have also attracted attention from market participants. Analyst Ali Martinez has highlighted Chainlink's next potential price targets at $29 and $46, reflecting the growing confidence in the altcoin's performance [3]. Meanwhile, Dogecoin has shown signs of a bullish flag pattern on the hourly chart, with some analysts suggesting it could test $0.27, and even reach as high as $0.75 if Bitcoin remains above $120,000 and Ethereum continues to set new records [4].

Fartcoin, a more speculative altcoin, has also been under scrutiny by prominent crypto analyst Sherpa, who noted a sharp pullback but remains optimistic about a potential rebound. He emphasized that the 200-day EMA and key Fibonacci levels are still intact, with short-term price targets at $1.12 and $1.33 [5]. This continued volatility reflects the broader trend in altcoins, where optimism is growing but caution remains among traders navigating a high-risk environment.

The Ethereum rally has also triggered over $200 million in liquidations as traders with short positions were forced to cover their losses during the rapid price movement [6]. This highlights the current market's volatility and underscores the challenges faced by leveraged traders. While Bitcoin and Ethereum have shown resilience, they remain sensitive to macroeconomic indicators, with the upcoming CPI data expected to influence price direction in the near term [7].

Overall, the market is cautiously optimistic about a potential new bull run. Strong price action, institutional participation, and positive technical developments have contributed to renewed speculation about broader crypto adoption. However, analysts continue to emphasize that volatility is a defining feature of the market, and traders should remain prepared for sharp price swings [8].

[1] https://icobench.com/news/ethereum-price-prediction-eth-breaks-4k-eyes-7k-as-bulls-take-control/

[2] https://bravenewcoin.com/insights/ethereum-eth-price-prediction-ethereum-etf-inflows-hit-1b-record-as-blackrocks-150000-eth-buy-sparks-all-time-high-hopes

[3] https://bravenewcoin.com/insights/ethereum-eth-price-prediction-ethereums-1-5-year-resistance-breakout-could-ignite-7000-surge

[4] https://cryptoadventure.com/ethereum-surge-shifts-focus-to-altcoins-as-speculation-heats-up/

[5] https://en.bitcoinsistemi.com/ethereum-eth-hits-4-2k-200m-liquidated-trump-doge-fans-cheer-while-this-new-coin-surges-over-500/

[6] https://coindoo.com/bitcoin-and-ethereum-brace-for-cpi-data-after-price-pullback/

[7] https://bitcoinist.com/next-crypto-bull-run-gemini-predicts-next-cryptos-to-explode/