- $5 billion in ETH options set to expire on Friday.
- Analysts expect this to be the catalyst to send ETH price to new ATH prices.
- The price of ETH could hit a new ATH of $5,000 and above very soon.
$5 billion in ETH options set to expire on Friday, analysts expect this move to be a possible catalyst for the price of ETH breaking past the $5,000 ATH price target. The pioneer altcoin had just set a new ATH record in the $4,900 price range, breaking its previous ATH record in the $4,800 price range. Can the price of ETH now surge to hit much higher ATH prices in the coming days ahead?
$5 Billion in ETH Options Set to Expire on Friday
The pioneer altcoin asset, Ethereum (ETH), just set a new ATH price in the $4,900 price range 4 days ago. Following this new ATH record, the price of ETH began to decline until it hit the $4,100 price range. This is likely where the asset bottomed as predicted by Bitmine Immersion’s Tom Lee, who expects the price of ETH to hit a new ATH at the $5,500 price target soon.
Presently, the price of Ethereum (ETH) has been trading in the $4,400 to $4,600 price range and has been hinting at a surge towards hitting new ATH prices. These new ATH targets for the pioneer altcoin waver between $5,000 to just above $6,000, as short-term ATH targets. Meanwhile, long-term targets for ETH price in the ongoing bull cycle place ETH targets at $8,000 to $16,000, possibly this year.
Analsyts Expect ETH Price to Break Past $5,000 Soon
Reputed analysts and long-time traders have been looking closely at relevant market indicators as well as at the ETH price chart and the Bitcoin Dominance chart, hoping to find indicators that can confirm when the price of Ethereum (ETH) will hit its next ATH price range. So far, several bullish indicators are apparent across multiple internal and external factors.
To name a few bullish factors, the price of Ethereum (ETH) finally entered the price discovery phase and has been consistently outperforming Bitcoin (BTC). This, paired with the fact that Bitcoin Dominance has been steadily declining, allowing ETH and other altcoins to dominate soon, is further boosted by the many bullish signals and signs appearing on several altcoin price charts as well.
As we can see from the post above, $5 billion in ETH options is expiring this Friday. Some analysts expect this to be the catalyst that could drive the price of ETH to set a new ATH record at $5,000 and above. In detail, the ETH options expiring will likely concentrate pressure on key levels, leading to an explosive price pump and elevating ETH price to much higher ATH targets.