After posting some incredible returns this week, Ethereum price trend is gaining momentum into a bull market, and the main reason behind this bull market is the hype surrounding the Ethereum ETF that was approved by the SEC this week.
Within a week, the price of Ethereum surged to $3,947, 53 points short of the $4,000 mark. With the Ethereum ETF scheduled to list later this year, expectations are growing for a surge in ETH prices.
So, let’s take a look at Ethereum price trends and explore the potential impact of the upcoming ETF listing. To check further, we asked the latest version of ChatGPT to predict Ethereum price trends before the ETF listing.
22% weekly jump sends Ethereum to $4,000
With a staggering bullish return of 22% this week, the 1W chart shows a huge bullish engulfing candle on the verge of breaking $4000.The surge in Ethereum price weakens the April pullback, setting a bullish tone for next week.
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Moreover, a significant increase in trading volume is boosting the bullish move and hinting at the formation of a new all-time high. If buyers continue their bullish drive and trigger a rally above $4,000, an explosive uptrend could reach the $6,854 level or the 1.618 Fib level. However, the upcoming listing of an Ethereum ETF could trigger an unprecedented bull run for ETH price, similar to Bitcoin.
So, we asked ChatGPT to predict the price of ETH ahead of the Ethereum ETF.
ChatGPT predicts Ethereum ETF rise
When we asked the latest version of ChatGPT about ETH price trends, the AI shared the basis for its prediction: Comparing BTC prices before and after the launch of the Bitcoin ETF with current market sentiment and technical levels, the AI presented two possible trends for Ethereum.
The immediate resistance is at $4,000, but the AI has highlighted key resistance levels at $4,617 and $6,854.
A conservative approach sees Ethereum ChatGPT predictions prior to the ETF listing targeting $4,873 and $5,248, while an optimistic estimate sees a 60% rise to $5,998.
