Ethereum Price Prediction: Trader Sees Potential Surge to $12,000 Soon

Ethereum has decreased in price by 3% amidst Middle East tensions, with analysts predicting potential rebounds. Trader Merlijn suggests ETH could reach $12,000 in two years, while The Crypto Professor sees a short-term target of $4,000. New developments in the crypto sector include Best Wallet’s growing prominence and upgrades in the XRP Ledger.

Ethereum (ETH) has faced a dip of about 3% over the last week, largely influenced by escalating tensions in the Middle East that have pressured the entire crypto market. Even with a cease-fire agreement between Iran and Israel, facilitated by former President Donald Trump, only Bitcoin (BTC) seems to be getting a notable boost from investors, while uncertainty still lingers in the atmosphere.

Amid this bearish backdrop, there are some optimistic traders who are betting on a bullish future for ETH. Some analysts expect the cryptocurrency to reach back up to $4,000, but one standout trader, known as Merlijn the Trader, boldly predicts a potential surge to $12,000 within two years. Merlijn, who has nearly 400,000 followers on X, cautioned previously that Bitcoin was overvalued at $8,000 and now finds ETH at $2,400 to be somewhat dull.

Notably, Merlijn compares the current price action of Ethereum to Bitcoin’s explosive growth in 2020, arguing that ETH’s price fluctuations are indicative of a similar breakout pattern. He sees this as a potential setup, suggesting that a significant increase in Ethereum’s price is on the horizon—something he implies is not just likely but inevitable.

Additionally, there’s buzz from The Crypto Professor, another notable voice in the crypto trading community, who has predicted Ethereum could break out to $4,000 after surpassing a crucial resistance level at $2,150. He recently shared a chart that shows Ethereum has reclaimed a vital area above $2,400, with an accompanying bullish trend indicated by a ‘golden cross’ of key moving averages.

On the 4-hour charts, the price has rebounded after a significant correction last weekend, but it rejected further movements towards the 200-period EMA for the time being, which adds some complexity to short-term predictions. Despite some bearish pressures, indicators like the Relative Strength Index (RSI) are suggesting a potential bullish reversal.

Looking ahead, traders are watching key resistance levels situated at $2,560 and $2,680. A successful breach above these levels could very well signal a return to the highs observed earlier in June when the price approached $2,900. While crypto prices rebound, investors are also focusing on the secure storage of their assets, particularly with innovative platforms like Best Wallet (BEST) emerging in the market that promise low swipes fees and multichain support.

Best Wallet aims to challenge established players in the field by offering unique features, including a dedicated crypto screener for identifying strong token presales, specifically Solaxy (SOLX) and Pepe Unchained (PEPU), which have yielded significant profits for early backers. Interested investors can readily access Best Wallet via its website or download the application directly, facilitating the purchase of $BEST using either USDT, ETH, or traditional bank cards.

In related news, Trump Media & Technology Group is reportedly advancing its involvement in the cryptocurrency space, while the BTC Bull Token has caught attention for offering real Bitcoin rewards, distinguishing it from typical meme coins. As the presale for BTCBULL approaches its conclusion, market analysts are predicting promising outcomes.

Meanwhile, the XRP Ledger has made noteworthy progress with the rollout of version 2.5.0 of its core software—an upgrade that developers are touting as one of the most significant in its history. Additionally, there’s been a surge in demand for Ethereum-related investment products, notably with U.S.-listed spot ETFs drawing in over $100 million in a single day.