Ethereum is trading below $4600; however, projections show an increasing chance of hitting $5000 by the end of August.
Predictions for Ethereum Price Up to $5000
Currently, Ethereum is trading below the $4600 mark. Polymarket users are estimating a 64% chance of the price reaching $5000 before the end of August. Optimistic expectations are based on technical patterns and institutional interest.
Probability of Hitting an All-Time High
Polymarket users also believe there is an 87% chance that Ethereum will hit a new all-time high by the end of August. Other forecasts on similar platforms like Kalshi show a 92% probability.
Support Levels and Possible Corrections
Analysts warn of a potential correction to $4000 or $4400 if key support fails. Popular trader Rekt Capital noted that Ethereum must establish a support level above $4631 to confirm further upside. Noted analyst Block_Diversity cautioned about a possible drop into the demand zone between $4000 and $4400 before the next bullish momentum.
Thus, despite the potential risks of short-term corrections, long-term predictions for Ethereum remain optimistic, with a high likelihood of reaching new price peaks soon.
