Ethereum Price Prediction: Experts See $5,500 Target as Momentum Builds

Ethereum is once again drawing attention as experts anticipate a significant price surge towards $5,500, despite recent market fluctuations. Mark Newton, technical strategy director at Fundstrat, believes the cryptocurrency’s search for a short-term bottom is nearing its end. He cites expanding DeFi applications and rising institutional investments as key drivers behind this anticipated climb. 78,824 ETH worth $302 million was withdrawn from Kraken by BitMine wallets, further fueling optimism about Ethereum’s potential.