Citi Lifts Ethereum Forecast Amid Strong Crypto Activity

Citi has increased its Ethereum price forecast to $3,028, marking a roughly 35% increase from its previous estimate of $2,240.

This upward revision reflects the bank's improving outlook for crypto markets, which Citi attributes to stronger digital-asset activity and renewed institutional participation.

However, Citi's thesis relies partly on stabilizing institutional flows, as recent ETF outflows have been a significant warning sign. U.S. spot Ethereum ETFs recorded $55.4 million in net outflows on Oct 1, following another $59.6 million of withdrawals on Sept 30.

The key to Ethereum's future price movement lies in its ability to break above the crucial $2,800 level, which has proven to be a stubborn resistance area for the asset.