Altcoin king Ethereum (ETH) 
$2,451continues its rise by firmly maintaining important support levels in the recent period. The Ethereum price, which rose above $ 2,500 at the end of the week, began to attract the attention of investors. Evaluating Ethereum’s current position, analysts point to the potential for the price to move towards $6,000.
$6,000 Price Prediction from Analysts
Crypto analyst Ali Martinez points out an attractive risk-reward ratio for Ethereum. Martinez stated that he saw a suitable opportunity to take a long position in ETH and announced that he placed the stop order below $ 1,880. Martinez, who set $6,000 as the target price, thinks that Ethereum’s current price structure offers an opportunity for upward movement. Martinez said, “The risk-reward ratio for Ethereum is quite advantageous. “I have a target of $6,000,” he said.
In order for Ethereum price to reach $6,000, it must overcome the resistance at $2,680. Going above this level could increase the buyers’ strength. Institutions, on the other hand, maintain their trust in Ethereum. Last week, Swiss giant UBS launched its first Ethereum-based tokenized investment fund in Singapore. This step shows continued institutional interest in Ethereum.
Ethereum Likened to Amazon of the 1990s
21Shares crypto asset manager analyst Leena ElDeeb compared Ethereum’s potential to the Amazon of the 1990s. “Ethereum is complex and promises great potential, but its use cases are not yet fully established,” ElDeeb said. Another analyst, Federico Brokate, said: “Amazon started out as a bookstore, now it is a global e-commerce and cloud computing giant. “I think Ethereum is on a similar path,” he added. Ethereum’s current market cap is $320 billion, which is 6.25% of Amazon’s value.
The altcoin king’s ecosystem has an ever-expanding talent pool. Analysts state that this advantage can increase the value of the network by increasing its functionality. ElDeeb also stated that demand for spot Ethereum ETFs continues to increase and this interest could positively affect the price.
Ethereum and Bitcoin Competition Continues
While Ethereum is testing the patience of investors, it may move towards new highs if it breaks out of the downtrend. The continuation of corporate interest and the change in market conditions in favor of Ethereum give positive signals for the coming period. Bitcoin on the other hand 
$68,545While ‘s market dominance is increasing, Ethereum’s dominance has decreased from 18% at the beginning of the year to 13%. This indicates that Ethereum is still lagging behind compared to Bitcoin.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
