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.
Source: CoinGecko
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
Source: Forbes
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.
Source: CoinCodex
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%.