😱🚀🚀Ethereum (ETH) bulls are preparing to make a move to reach the $3,000 target
Ethereum (ETH) bulls have set ETH's next price target at $3 thousand. The last time the asset reached this level, it faced a correction of 46 percent.
#ETH has been rising for the last 10 days and is blinking at the $2,800 level. The asset, which has gained over 20 percent in the same period, is gathering strength from Ethereum ETF rumors.
There are potential reasons that could increase the value of the asset to $ 3,000. But will he be able to stay above this level this time?
Will Ethereum be able to exceed $ 3,000?
While Ethereum's competitors Solana and BNB Chain are attracting various question marks, the approval of an Ethereum-based spot ETF has the potential to greatly distinguish the asset from its competitors.
Another important factor for Ether is the Dencun upgrade, which is scheduled to take place on March 13. With the new update, it is aimed to reduce the transaction costs in layer-2 solutions. Offering more block space to users and reducing gas fees has the potential to increase the adoption of Ethereum, bringing the value of the asset to $ 3,000.
Although there are many catalysts for Ether to exceed $ 3,000, historical data shows that the asset has difficulty remaining stable at this price.
Ether, which rose to $ 3,580 with its rise in a short time on April 3, 2022, lost 46 percent in value in the next 40 days. Investors expressed concern about whether Ether will face a similar picture.
Bloomberg analysts note that the probability of spot Ether ETF approval is 70 percent. There is still a risk of volatility in the event of a potential approval that May come in May, if the asset rises above $ 3,000.
When looking at this table, it should be noted that no scenario is certain for Ether bulls.
At the time of writing, ETH is trading at the level of $ 2790, according to Bitstamp data.
