Ethereum Still A Bargain? StanChart Exec Says ETH Is ‘Cheap’ And Ready To Rally

Standard Chartered’s digital assets research chief says Ethereum still has room to rise, even after recent swings in ￰0￱ to Geoffrey Kendrick, growing institutional demand and shrinking exchange liquidity are tightening supply and could push Ether higher toward his year-end target of $7,500. Related Reading: XRP’s Biggest Doubter Just Dropped Close To $5 Price Bomb — Here’s Why Institutional Demand Up Reports have disclosed that corporate digital asset treasury firms have bought about 2.5% of circulating ETH since ￰1￱ ETH exchange-traded funds added close to 5% over the same ￰2￱ on those figures, roughly 7.5% of supply has been drawn into corporate treasuries and ETFs since June, a large shift in a relatively short ￰3￱ expects these firms could eventually hold up to 10% of all circulating Ether, a projection that underpins his bullish ￰4￱ Outflows And Price Moves Exchange-balance trackers show a substantial movement of coins off trading ￰5￱ a single day, over 74,000 ETH — roughly $340 million at recent prices — was withdrawn from exchanges, led by ￰6￱ outflows are often read as a sign of reduced near-term selling ￰7￱ did slip about 5% on Tuesday before bouncing ￰8￱ to CoinMarketCap, it trades near $4,618, marking a 4.6% gain in the last 24 hours and a weekly rise of 10%.

Resistance Levels To Watch Traders are watching short-term barriers around $4,600. A clear move above that level could open $4,700, with $4,800 the next checkpoint before the prior ￰9￱ asset briefly hit an all-time high of $4,950 on August 24. Kendrick’s forecast of $7,500 by year-end implies a roughly 60% climb from current prices, a scenario that would require continued strong flows and calm macro ￰10￱ Moves Versus Market Supply Reports point to firms such as SharpLink Gaming and Bitmine Immersion being valued in relation to their ETH ￰11￱ compared these companies to Strategy’s approach with Bitcoin, arguing some are priced below what he considers fair ￰12￱ has announced a share repurchase program that would trigger if its metric net asset value falls below 1.0, a move that could set a price floor for the ￰13￱ Reading: Dogecoin Gears Up For Triple Surge ￰14￱ – Details That corporate behavior, while supportive for those equities, is not identical to permanent removal of ETH from circulation the way staking or ETF custody can ￰15￱ bullish picture rests on a few big ￰16￱ shocks, quick shifts in investor sentiment, or regulatory moves could reverse flows ￰17￱ positions can be created when many buyers chase the same theme, and those positions can amplify volatility if sentiment ￰18￱ image from Unsplash, chart from TradingView