Ethereum Price Rises 8% Weekly: Analysts Predict $2,000-$2,500 Target

Ethereum's price has rebounded from its local bottoms last month, and analysts are predicting a significant upward move.

The second-largest cryptocurrency has seen an 8% increase in value over the past week and a 17% rise from its June low, with some experts believing it could reach $2,000 or even $2,500 before September.

Growing institutional interest is supporting the bullish thesis, as spot ETH ETFs have seen five consecutive green days, the longest streak since April. This means that pension funds and other conservative investors are increasing their exposure to Ethereum.

However, some analysts warn that Ethereum's Relative Strength Index (RSI) indicates that it has entered overbought territory and could be due for a correction. Some experts believe that a potential crash to $1,000 would occur before a possible spike to $5,000.