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The current market indicates that the Ethereum price could be heading towards a big breakout. This follows the noticeable rise in the accumulation of the Ethereum coin by whales and record ETF inflows, showing a rising institutional shift towards the altcoin king.
However, while the catalysts keep shifting in favour of Ethereum’s rising adoption, investors keep eyeing the Ethereum price prediction, which shows it could hit $5500 soon.
Here is a deep dive into the whole gameplay, showing how the Ethereum price prediction could hit home faster than predicted and the risk around the potential surge.
Is the Ethereum Price Prediction of $5500 Still Possible This Year?
There has been a growing interest in the direction of the Ethereum coin since the year’s opening, as traders are looking into a potential price surge following BTC ATH. However, while Ethereum price prediction keeps rising weekly, the price has continued to grow in a sideways pattern.
The recent surge in ETF inflow is beginning to change this narrative, with the new Ethereum price prediction projected to hit a high of $5500 before the year closes. While this price prediction could be highly speculative owing to the current price performance, the spike in interest and technical indicators shows this might be possible.
As the report shows, up to 30% of the Ethereum supply is currently in a staking lock; the rising institutional inflow is poised to create a strong supply shock, causing the price to shoot up soon.
Furthermore, the technical side of the price shows a rounded bottom formation, suggesting that the Ethereum price prediction of $5500 could be starting already as we await the price breaking beyond the $2723 resistance.
Why Remittix Is Worth A Look Too
As Ethereum price prediction continues showing speculative potential, analysts have also pointed out another asset, the new Remittix $RTX token. This is a token built on a solution that could solve the billion-dollar problem of crypto payment.
Remittix facilitates cross-border payment solutions, allowing crypto-to-fiat payment directly to a bank account and making crypto a part of everyday spending. This solution is already picking up heat as it addresses the most important part of all crypto holders.
The Remittix token, in this case, is championing an innovative solution, already receiving wide adoption and potentially breaking out among the top altcoins in the next bull market. However, the newness of the Remittix token makes it a top choice for massive gains in the coming altcoin season as the market continues to readjust towards an altcoin market breakout.
Discover the future of PayFi with Remittix by checking out their presale here:
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