{"id":427363,"date":"2022-04-06T12:49:43","date_gmt":"2022-04-06T09:49:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3-reasons-why-ethereum-price-can-hit-4k-in-april\/"},"modified":"2022-04-06T12:49:43","modified_gmt":"2022-04-06T09:49:43","slug":"3-reasons-why-ethereum-price-can-hit-4k-in-april","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-ethereum-price-can-hit-4k-in-april\/","title":{"rendered":"# 3 reasons why Ethereum price can hit $4K in April"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3dcd334d19c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3dcd334d19c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-ethereum-price-can-hit-4k-in-april\/#%E2%80%9D_3_reasons_why_Ethereum_price_can_hit_4K_in_April_%E2%80%9C\" >&#8221; 3 reasons why Ethereum price can hit $4K in April &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-ethereum-price-can-hit-4k-in-april\/#Google_searches_for_%E2%80%9CEthereum_merge%E2%80%9D_spike\" >Google searches for &#8220;Ethereum merge&#8221; spike\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-ethereum-price-can-hit-4k-in-april\/#Exchange_ETH_reserves_at_three-year_lows\" >Exchange ETH reserves at three-year lows<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-ethereum-price-can-hit-4k-in-april\/#Technicals_hint_at_4K_ETH_price\" >Technicals hint at $4K ETH price<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_3_reasons_why_Ethereum_price_can_hit_4K_in_April_%E2%80%9C\"><\/span>&#8221; 3 reasons why Ethereum price can hit $4K in April &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Three market catalysts suggest that Ethereum&#8217;s native token Ether (ETH) is well-positioned to reach $4,000 this month.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Google_searches_for_%E2%80%9CEthereum_merge%E2%80%9D_spike\"><\/span>Google searches for &#8220;Ethereum merge&#8221; spike\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Internet users&#8217; interest in Ethereum&#8217;s upcoming network upgrade, dubbed &#8220;the Merge,&#8221; surged substantially in the week ending April 2, Google Trends&#8217; data shows.<\/p>\n<p>Searches for the keyword &#8220;Ethereum Merge&#8221; reached a perfect Google Trends score of 100 on a 12-month timeframe with most traffic coming from the U.S., Singapore, Canada, and Australia.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/03d76176-4d37-4a29-983f-35285fc9766e.png\"><figcaption style=\"text-align: center;\"><em>Internet trend score for the keyword &#8216;Ethereum Merge.&#8217; Source: Google Trends<\/em><\/figcaption><\/figure>\n<p>Merge, also called ETH 2.0, refers to the Ethereum network&#8217;s full transition to Proof-of-Stake\u00a0(PoS) from Proof-of-Work (PoW), a development that had been touted as one of the major catalysts behind Ether&#8217;s rebound from $2,500 on March 14 to over $3,500 this week.<\/p>\n<p>The bullish outlook stems from Merge&#8217;s proposal to reduce Ether&#8217;s issuance rate, leading to a possible supply peak in the total number of ETH in circulation. With PoW mining,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.statista.com\/statistics\/1278169\/ethereum-circulating-supply\/\">ETH&#8217;s supply has grown by 3% every year<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/f1dd4f01-cb1a-4e55-b179-fe963203f3b6.png\"><figcaption style=\"text-align: center;\"><em>Total value staked in ETH 2.0. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>The spike in public interest for &#8220;Ethereum Merge&#8221; suggests there is growing buzz among crypto investors and traders as the Ethereum upgrade nears. Last month&#8217;s launch of Kiln is the final public testnet before the whole network transitions to PoS sometime this year.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> <\/p>\n<p>I think we see a drive towards $4000 soon as long as price action remains above this support @ $3400.<\/p>\n<p>Likely a healthy retrace after a test of 4k<\/p>\n<p>Then into a aggressive move to new ATH&#8217;s for merge <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ZDvReVPAWP\">pic.twitter.com\/ZDvReVPAWP<\/a><\/p>\n<p>\u2014 Cactus (@thecryptocactus) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/thecryptocactus\/status\/1511274169211756547?ref_src=twsrc%5Etfw\">April 5, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exchange_ETH_reserves_at_three-year_lows\"><\/span>Exchange ETH reserves at three-year lows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At the same time, ETH supply downtrend on crypto exchanges continues.\u00a0<\/p>\n<p>Notably, net Ether reserves across all the exchanges have <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&amp;category=Exchanges&amp;m=distribution.BalanceExchanges&amp;resolution=24h&amp;s=1438646400&amp;u=1649116800&amp;zoom=\">dropped<\/a> to their lowest levels since August 2018, suggesting that traders have been withdrawing ETH en masse to hold them long-term or to stake them across DeFi liquidity pools.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/52b79d80-8052-46a7-9b69-5fbbb610fcf3.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Ethereum balance on exchanges. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/glassnode.com\/\">Glassnode<\/a><\/em><\/figcaption><\/figure>\n<p>What&#8217;s more, the number of addresses with a non-zero balance continues to rise, suggesting growing adoption and distribution of ETH.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/935e226b-58a5-4bc8-9649-1feaff376573.png\"><figcaption style=\"text-align: center;\"><em>Ethereum number of addresses with a non-zero balance. Source: Glassnode<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Technicals_hint_at_4K_ETH_price\"><\/span>Technicals hint at $4K ETH price<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Chances of ETH price reaching $4,000 in April are also boosted by a classic technical pattern.<\/p>\n<p>Dubbed &#8220;symmetrical triangle,&#8221; the pattern usually forms when the price consolidates sideways inside a range defined by a lowering upper trendline and a rising lower trendline, following a sharp move upside or downside. <\/p>\n<p>In an ideal scenario, the triangle resolves after the price breaks in the direction of its previous trend, and is thus considered a &#8220;continuation pattern.&#8221;<\/p>\n<p><strong><em>Related:\u00a0Crypto venture capital firms see surging assets under management<\/em><\/strong><\/p>\n<p>However, symmetrical triangle breakouts do not necessarily result in a continuation trend. For instance, in the book\u00a0<em>Technical Analysis of Stock Trends, <\/em>technical analysts Robert Edwards and John Magee note that about 25% of all symmetrical triangle breakouts lead to reversals, i.e., the price does not break in the direction of its previous trend, thus defying anticipations.<\/p>\n<p>Ethereum&#8217;s current breakout <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be a reversal as it bounces to the upside instead of continuing its previous trend to the downside, as shown in the chart below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/f5b52649-b25c-41ef-bf57-3fcfc2b0ef86.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD daily price chart featuring symmetrical triangle setup. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>A symmetrical triangle&#8217;s potential breakout target is calculated after measuring the maximum length between the pattern&#8217;s upper and lower trendline and then adding the result to its breakout point. <\/p>\n<p>This puts the ETH\/USD bullish target at nearly $4,000.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/3-reasons-why-ethereum-price-can-reclaim-4k-in-april\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; 3 reasons why Ethereum price can hit $4K in April &#8220; Three market catalysts suggest that Ethereum&#8217;s native token Ether (ETH) is well-positioned to reach $4,000 this month. Google searches for &#8220;Ethereum merge&#8221; spike\u00a0 Internet users&#8217; interest in Ethereum&#8217;s upcoming network upgrade, dubbed &#8220;the Merge,&#8221; surged substantially in the week ending April 2, Google&#8230;<\/p>\n","protected":false},"author":1,"featured_media":427364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZmUxZjA1ZjctOGFjOC00ZGRhLTkxOTItYjlmZmJmNTRiNWRkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[82625,82402,74891,75326,74938,74939,75679,74876,75578,75864,78261,72927,26293,73785],"class_list":["post-427363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-burn","tag-ether-price","tag-ethereum","tag-ethereum-2-0","tag-ethereum-price","tag-market-analysis","tag-market-capitalization","tag-proof-of-stake","tag-proof-of-work","tag-supply","tag-tech-analysis","tag-fees","tag-google","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/427363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=427363"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/427363\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/427364"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=427363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=427363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=427363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}