Citi Lifts ETH Forecast 35%, Targets $3,028

Citi has updated its forecast for Ethereum (ETH) and Bitcoin (BTC), citing stronger market activity, improving macro conditions, and renewed ETF demand. The bank raised its price target for BTC to $113,000 from $82,000.

The immediate question is whether ETH can break above the $2,800 level. So far, it has repeatedly failed to hold above this area, with support around $2,600-$2,660 and resistance near $2,800.

Ethereum's recent attempts to breakout have been met with strong ETF demand, but this has not been enough to keep the price above resistance. Institutional demand remains supportive, but it has become less consistent.