ETH/BTC Price Prediction: Ethereum Price Target $5600

Key Points

- Despite winning the lawsuit against the SEC, Ethereum price is still falling and it is expected that it may reach $5600 after the launch of ETH ETF in the next two weeks.

- Ethereum is down 5.2% in the past 7 days and 3.6% in the past 24 hours, currently trading at $3,380.

- Ethereum price may fall to the support level of about $3,126 and then rebound to $4,000 to test the high again.

- If the bulls are strong, Ethereum may rise 46% to $5,600.

- Ethereum's daily trading volume surged 98%, indicating rising investor interest.

- Ethereum continues to dominate other blockchains in terms of total locked value, trading volume, fees, revenue, and number of transactions.

- The main catalyst for Ethereum's future is the potential approval of its ETF and the recent victory with the SEC.

- Institutional interest in ETH has increased, and Ethereum CME futures open interest has risen, similar to the situation before the start of Bitcoin ETF trading.