Ethereum (ETH) Price to Hit $4K in Next 3-6 Months – Predicts Michaël van de Poppe

The post Ethereum (ETH) Price to Hit $4K in Next 3-6 Months – Predicts Michaël van de Poppe appeared first on Coinpedia Fintech News

Ethereum (ETH), the largest smart contract and web3-focused blockchain with more than $31.6 billion in Total Value Locked (TVL), closed January on a very indecisive note after registering notable gains in the prior four months. Notably, Ethereum’s price on the monthly chart closed January with a spinning top, which indicates the buyers have not yet outweighed the sellers. As a result, Ethereum’s price could continue with heightened volatility on either side in the coming weeks.

Major Ethereum Upgrade to Watch

After conducting several tests on Goerli and Sepolia tenets on the Dencun upgrade, the Ethereum core development team is now preparing for the final round of testing on the Holesky environment on February 7, 2023. The Dencun upgrade is the most considerable Ethereum-based network upgrade since the Shanghai upgrade earlier last year. Moreover, the Dencun upgrade will include several changes, like Protodanksharding, which is geared to reduce layer-two (L2) transaction fees.

Michaël van de Poppe’s Take on Ether Price Action

With Ethereum price having successfully retested a macro breakout in the past few months, crypto analyst Michaël van de Poppe has reiterated the bullish outlook in the near term. Poppe expects Ethereum price to reach the psychological resistance range between $3,500 and $4,000 in the next three to six months.

Furthermore, the recent approval of spot Bitcoin ETFs in the United States has increased the chances of an Ether-based spot ETF approval by the US SEC. Additionally, the highly anticipated altseason will happen amid the ongoing crypto rotation from Bitcoin to the altcoin market.