ChatGPT Predicts Ethereum ETF Launch Could Propel ETH Price Beyond $7,000
The post ChatGPT Predicts Ethereum ETF Launch Could Propel ETH Price Beyond $7,000 appeared first on Coinpedia Fintech News
With the Bitcoin ETF launch finding a huge surge in inflows, the asset price skyrockets to a new all-time high in a short period of time. As the newfound bull run ignites with the Bitcoin ETF, the upcoming potential Ethereum ETF could drive a new rally in altcoins.
With the ongoing bull run, bulls bring the Ethereum price to $4,000 for a new peak as a 52-week high. Under the influence of rising Ethereum ETF buzz, the increasing hype and community support with increased institutional investments may lead to a huge jump.
So, let’s have a look at the Ethereum price action and find the potential impact of the upcoming ETF.
With Recovery In Motion, Ethereum Remains BullishWith the second bearish week, the ETH price is on a downhill track, accounting for a drop of 14%. However, the immense demand pressure at the 61.80% Fibonacci level leads to a lower price rejection.
With this bounce back, the ETH price teases a consolidation range as the buyers are making a comeback. Further, the price action shows a rounding reversal in the long-term and prepares a new all-time high formation.
Considering the buyers sustain the bull run and continue a post-retest reversal from $3,200, the uptrend could hit $4,000. However, the upcoming Ethereum ETF could ignite an unprecedented bull run in ETH price, similar to Bitcoin.
Hence, we asked ChatGPT to predict the ETH price ahead of Ethereum ETF.
Ethereum ETF Rally Prediction By ChatGPTSharing the weekly ETH price chart with ChatGPT provides strong speculation from the AI. Based on the recent price analysis, the GPT predicts Ethereum to surge to new levels.
Using the Fibonacci retracement levels and the power of AI analysis, ChatGPT predicts $6,835 as the target with Ethereum ETF enthusiasm. Beyond this, the AI predicts the $7,000 and $8,000 mark as the next psychological barrier to overcome.