3 reasons why Ethereum can reach $5,000 in Q1

Ethereum markets inflation Ether price Federal Reserve

04.01.2022 - 19:55

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cointelegraph.com:

Ethereum's native token Ether (ETH) has plunged by more than 20% after establishing its record high at around $4,867 on Nov. 10, 2021. Nonetheless, the sharp price pullback does not mean ETH can't pursue a new record high in the next few months, as several widely-tracked technical, macroeconomic and on-chain indicators suggest.

One of these indicators envisions Ether's price reaching $5,000 in the first quarter of 2022 while others look are poised to support the bullish bias.

Ether's recent price correction is painting a potential classic bullish reversal pattern known as "falling wedge."

In detail, falling wedges begin wide at the top but contract as the price moves lower. As a result, the price action forms a conical shape that trends lower

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