The Head of Research of the DeFi protocol Derive, Dr. Sean Dawson, has given a bullish prediction for the price of Ethereum. He prophesied that the the second largest crypto he could collect as high as $12,000 and explained how the Pectra upgrade could add to the parabolic collection.
Ethereum To reach $12,000 thanks to Pectra upgrade and other factors
Dawson predict that Ethereum could reach $12,000 by the end of the year thanks to the Pectra upgrade, the Donald Trump presidency, increased adoption, and an increase in ETF inflows. According to the research analyst, this bullish case is possible if the Quick update on Pectra level is successful. The update is expected to help optimize the network and boost user experience.
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Given Donald Trump's pro-crypto stance, Dawson is also confident that the US president would create a regulatory-friendly environment, which would support further growth for Ethereum. For ETH to reach this $12,000 target, Dawson also said that Ethereum needs to see wider adoption within the world asset industry (RWAs). The network must also be a key player in emerging sectors such as DePIN agents and AI.
The Ethereum exchange traded funds (ETFs) can also be played in ETH reaching this goal. Dawson said there must be greater inflows into these funds. He warned that the failure of that fund could draw institutional interest into a bearish case for Ethereum.
For the bearish case, the research analyst predicted that Ethereum could fall as low as $2,000 due to the lack of inflows into the Check out the ETH ETF rankings. He noted that this could happen if these funds lose ground to the successful launch of the Solana ETF. There is no doubt that this is still possible, considering how Solana gained control last year in terms of network operations.
Dawson warned that other layer-1 networks are challenging Ethereum's market share, although he said this could offer higher risk and reward opportunities.
ETH remains profitable despite recent market decline
Crypto analysts have suggested that Ethereum still has a bullish outlook despite the recent market downturn. In an X post, crypto analyst Moon Carl said that despite the recent dump, ETH is still trading within its symmetrical triangle on the schedule of the day. The analyst said that if the support holds, a breakout with a bullish target of $4,100 is expected.
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The crypto analyst The Cryptomist also charted a path for Ethereum to reach a new one all time high (ATH). She pointed to a large falling piece, which played with symmetrical curves. She said that ETH could reconfirm the broken level, then reject support and enter a bullish 4-hour oversold divergence and then bounce to a new ATH.
At the time of writing, the price of Ethereum is trading at around $3,300, up in the last 24 hours, according to data from CoinMarketCap.
Featured image created by Dall.E, chart from Tradingview.com
