Multiple people have said that Ethereum could have a lot of good times ahead of it. Three people in the market have said that Ethereum’s token, Ether (ETH), could hit $4,000 by the end of April.
In the last week of March and the first week of April, Google trends showed that the public’s interest in Ethereum’s next network upgrade, called “The Merge,” has risen a lot. There were some words that got a perfect score of 100 on Google Trends, like “Ethereum Merge.”
It’s mostly from the U.S., Singapore, Canada, and Australia that people are interested in the Ethereum Merge search.
This is called “Merge,” or ETH 2.0. It refers to the Ethereum network’s move to Proof of Work instead of Proof of Stake. This “merge” is thought to be one of the main factors behind Ether’s rise in the last few weeks because it can cut down on how much Ether is made. To make things even worse, this might cause the amount of ETH in the world to reach a high point.
Second, one of the things that could make Ethereum hit $4,000 is the drop in the amount of Ether reserves. This could mean that a lot of people withdrew their ETH in order to stake it across the Defi liquidity pools.
As a side note, it is important to note that the number of addresses with non-zero balances hasn’t stopped rising, which could mean that ETH is becoming more widely used and spread out.
A “symmetrical triangle” could also drive the price of ETH to up. This means that the price moves sideways in a range that is defined by a lower upper trendline and a rising lower trendline, after a big up or down moves. Because of the triangle, it will be over when prices break out in the same direction that they did before.