The price of Ethereum has surpassed $4,000, marking a significant milestone and signaling confidence in its sustainability above this level. In contrast, Bitcoin has experienced price volatility and concerns due to a sudden outflow of half a billion dollars in just 60 minutes. Ethereum's recent price surge is attributed to a strong bounce from support levels in September, and there is hope that it will maintain its position above $4,000. The analyst predicts a target range of $6.8K to $8.5K for Ethereum based on Fibonacci retracement levels. Factors driving Ethereum's rise include revenue growth, competition from Layer 2 solutions, and the anticipated Dencun upgrade that will lower fees for users in 2024. Institutional investors have shown increasing interest in Ethereum, with significant inflows of $800 million in the past five days, contributing to the current bullish trend.



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