$10K Ethereum Price Still a Long Shot, Experts Say

The $10,000 Ethereum price target is being thrown around again, but experts say it's still a long shot. The current price of ETH is at $1,899.61, up 1.64% from yesterday.

This increase can be attributed to the influx of cash into Ethereum ETFs on August 5, which broke four straight days of people taking money out. Additionally, one of the big ETF players locked up a large chunk of ETH for staking, removing coins from circulation and helping the overall outlook feel more positive.

However, none of this gets us anywhere near $10,000. According to technical analyst Vuori Trading, Ethereum needs to break out of its wedge pattern first, which would send the price to between $3,300 and $4,800. Only after clearing those levels does $10,000 become a conversation.

The fundamentals are also looking up for Ethereum, with it holding over half of all tokenized real-world assets. Corporate treasuries are starting to buy more ETH than ETFs, controlling nearly 11% of all Ethereum in existence.