Ethereum (ETH) has been the talk of the town lately after the US SEC (Securities and Exchange Commission) asked exchanges interested in a spot ETH ETF (Exchange Traded Fund) to update their 19b-4 forms. The development led to a brief market rally, with Bitcoin (BTC) reclaiming the $71,000 level. On the other hand, ETH has rallied by 26.5% in the weekly charts, 27.7% in the 14-day charts, and 20% over the previous month.
Also Read: BlackRock Files updated 19b-4 Form for Spot Ethereum ETF
The second-largest cryptocurrency is currently only down by 21.8% from its all-time high of $4,878.26, which it attained in November 2021.
AI predicts Ethereum’s (ETH) price for June 1, 2024
According to CoinCodex, ETH’s price will consolidate at around current levels. The platform predicts ETH to trade at $3784.58 on June 1, 2024, a drop of about 0.6% from current levels.
Also Read: Top 3 Cryptocurrencies To Buy For 5X Gains In Anticipation Of Ethereum ETF Approval
Nonetheless, the platform anticipates ETH’s price to gain momentum in the summer. CoinCodex predicts ETH to hit $4,187.31 on August 1, 2024. Hitting $4,187.31 from current levels would translate to a growth of almost 10%.
Changelly also anticipates a slight price correction for Ethereum in the next week. The platform predicts ETH to trade at $3,696.02 on June 1, 2024, a drop of about 2.9% from current levels. However, Changelly expects ETH to hit a maximum price of $4,773.52 in 2024. Reaching $4,773.52 from current levels will entail a growth of over 25%.
Also Read: Ethereum: Bernstein Says ETH Will Hit $6,600 After ETF Approval
Telegaon, however, predicts Ethereum (ETH) to hit a new all-time high this year. The platform anticipates ETH to hit a maximum price of $5,854.04 in 2024. Reaching $5,854.04 from current levels would lead to a growth of 53.77%.