Ethereum price is getting closer to an all-time high. It trades at $4,693 today, August 13, with a 9% surge in 24 hours. Amid these gains, the CEO of ARK Invest, Cathie Wood, is doubling down on her bullish bias towards ETH. Analysts are also leaning bullish, saying it might reach $22,000.
Analyst Targets $22,000 Ethereum Price
Analyst Gert van Lagen has chimed in with where he expects the price to go. Currently, the all-time high of $4,891 is within sight, only 4% above the current price. Because of how much the Ethereum price is surging, this might not be its final stop, and Lagen supports this thesis.
Lagen observes that for the last four years, the ETH price has created an inverse head and shoulders. It is a sign that bears are no longer a concern, and the price is about to tick upwards. Given that the pattern has been formed over four years, getting to its target might equally take a long time.
Ethereum confirmed that it was breaking out when it went past $4,659. Normally, the price will come back here and retest this level. Once it is established as a firm support, the price rally may continue, and this might be what drives gains for ETH.
As aforementioned, Lagen says the ETH price will reach $22,000. He achieved this target based on how much the price dropped to form the dip marked by the head from the $4,659 level.
Getting to this high is also supported by CryptoQuant’s Ethereum Netflow data. The 30-day SMA has remained negative even throughout the massive surge in value in the last two months. This also shows more chances that the Ethereum price is going to move higher.
Cathie Wood Flips Bullish on ETH as Institutions Buy
In a recent interview, the CEO of ARK Invest, Cathie Wood, said she had gone all in on Ethereum. She says that by looking at how institutions are turning to the token, it will be “the institutional protocol.” She also added that it is the first time that ARK Invest’s ETH ETF has gotten solid interest since it started trading.
Besides, ARK Invest is not the only one dipping its toes into ETH. CoinGape reported that Bitmine is making an ETH treasury push. The fund, under the efforts of Ethereum bull Tom Lee, is putting more ETH tokens into its bag.
If the level of institutional interest that Ethereum is getting does not die down, the short-term outlook suggests $4,891 will not be the last stop. Moreover, a long-term Ethereum price prediction signals that more gains are still in the pipeline.
In conclusion, the Ethereum price is getting a lot of attention. Many traders, both retail and institutions, are not shying away even so close to a record high. Therefore, getting to $22,000 might be in the cards for the largest altcoin.
Frequently Asked Questions (FAQs)
Ethereum price is gaining because of interest from institutions and a bullish sentiment coming from analysts.
Ethereum price can reach an all-time high of $4,891 this week if the current level of demand remains.
Cathie Wood is bullish on Ethereum because of surging institutional interest toward the altcoin.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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