Ethereum Shatters All-Time High — Analyst Targets $7,000 Next
Ethereum just bulldozed through previous records—leaving traditional finance scrambling to catch up.
The Momentum Builds
That $7,000 target isn't just a number—it's a statement. Analysts see the surge as validation of Ethereum's utility beyond mere speculation. Smart contracts, DeFi, NFTs—the ecosystem's firing on all cylinders.
Why This Rally Feels Different
Institutional money's flooding in. Unlike 2017, this isn’t just retail euphoria. Real-world applications are driving adoption, not just hype. And yeah, Wall Street’s still trying to explain blockchain to their bosses—good luck with that.
Where It Goes From Here
Volatility? Absolutely. But the trajectory’s clear. Ethereum’s not just competing—it’s redefining the game. While traditional banks overcomplicate everything with paperwork, ETH keeps cutting through the noise.
One cynical take? Finance suits will still call it a 'bubble' right until they launch their own token. Classic.
What’s Next For ETH Price?
In an August 22 post on social media platform X, Alphractal CEO and founder Joao Wedson shared an exciting prognosis for the Ethereum price in the coming months. According to the crypto expert, the second-largest cryptocurrency may be entering another fear-driven scenario before the start of a new re-accumulation phase if it doesn’t cross the former record high.
Wedson revealed the possibility of algorithmic trading activity clustering around the $7,000 – $7,500 range, further strengthening the case for a reaccumulation stage. This pattern can be associated with cycle shifts where market makers absorb liquidity, suppress volatility, and set themselves up for the next round of major capital inflows.
The Alphractal founder highlighted that the Ethereum price movements have coincided with the cyclical pattern of Bitcoin’s market dominance. As shown in previous fractal cycles, the price of ETH tends to absorb a significant share of Bitcoin’s capital flow, typically after 28 days of BTC price consolidation.
Wedson revealed that the current market data suggests this pattern may be playing out again, increasing the chances of ethereum price embarking on an extended rally over the next few months. It is worth noting that the price of ETH has reached a new all-time high, implying that the altcoin may not even witness the initial downside volatility before entering a new growth phase.
The crypto expert, however, urged investors to do their due diligence, as the market data only looks at the typical behavior of Market Makers during cycle transitions.
Ethereum Price At A Glance
As of this writing, the price of ETH sits at around $4,716, reflecting an almost 9% increase in the past 24 hours. According to CoinGecko data, the altcoin is up by more than 11% in the last seven days.
