Ethereum (ETH) Breaks All-Time Record. How High Can It Reach?

Cryptocurrency market is graphing horizontally today and is going through a stagnant day. While many altcoins are down somewhat compared to yesterday, Bitcoin (BTC) hovers around $ 54,000 and $ 55,000. Ethereum (ETH) broke the all-time record with $ 2,734 today. Let's examine if ETH will continue to rise and how high it can get.

ETH entered a strong uptrend after April 26th. ETH managed to break the $ 2,650 and $ 2,700 resistances and reached a new high. ETH market cap exceeded $ 315 billion. If a price adjustment comes in, there is solid support at $ 2,600. If this support fails, there are supports at $ 2,575 and $ 2,550. I would also like to point out that the bulls are still active and if the resistance at $ 2,800 is broken, ETH could soon exceed $ 3,000.

The amount of ETH on the stock exchanges is decreasing day by day, when compared to the previous year, the current amount is at the lowest level. Therefore, I can say that the probability of high sales is lower for now. In addition, the decrease in the amount found in the stock markets can be an indicator that the price may reach higher.

The European Investment Bank (Europeran Ethereum Investment Bank-EIB) will sell digital bonds using the Ethereum network. Through the EIB, Goldman Sachs, Banco Santander and Societe Generale, the 100 million euro digital bond will be sold on the Ethereum network on April 28. The bond maturity will be 2 years and will end on April 28, 2023.

Increasing institutional investments in ETH, decreasing total amount traded on stock exchanges day by day, increase in DeFi-related protocols and decreases in transaction fees in the network show that ETH will reach higher in the coming days. Towards the end of this year, institutional investments in ETH will increase more. ETH is short and I think it will exceed $ 3,000 only, I expect it to exceed $ 10,000 by the end of the year. I think the ETH price should not be lower than 15% of the BTC price. Therefore, towards the end of the year, ETH will reach its real price.