Analyst Sets This Ethereum (ETH) Price Target If Bitcoin Clears $107K Resistance

The broader crypto market soared today, with Bitcoin price hovering near the $106k mark and Ethereum (ETH) price at $2,650.

Amid this, many market participants are looking for the potential future moves of the two top coins amid the ongoing volatile trading session in the market.

Meanwhile, a renowned analyst has drawn a comparison between BTC and ETH recently, gaining market attention.

The expert has highlighted how high Ethereum price can go if BTC once again breaks through the $107k resistance ahead.

Ethereum Price Soars Amid Broader Crypto Market Rally

ETH price today added more than 1% and traded at $2,648, while its one-day volume fell 23% to $15 billion.

The crypto has touched a high and low of $2,652 and $2,582 from yesterday while witnessing a robust monthly surge of over 45%.

Besides, CoinGlass data showed that Ethereum Futures Open Interest also rose more than 3% today, indicating renewed market interest.

Notably, this comes as the broader crypto market continues to move north. During writing, the global crypto market cap rose around 1% to $3.34 trillion.

BTC price today also surged around 0.6% to $105,986. Simultaneously, the market’s fear and greed index stayed at 57, indicating a neutral sentiment among traders.

So, here we explore what the experts are predicting on the potential future movements of Ethereum price and Bitcoin.

Besides, we would also explore the recent market trends that might provide further cues on the potential future movement of the top cryptocurrencies.

Analyst Reveals Ethereum Price Target If BTC Continues To Soar

As both the flagship cryptocurrencies continued to move towards the north, analyst Michael van de Poppe has shared a prediction, which has caught traders’ eyes.

In a recent X post, the expert shared a price chart, highlighting the $107k as a critical level for Bitcoin price.

Besides, he predicted that if BTC successfully breaches this resistance ahead, it could trigger a rally for Bitcoin to a new ATH. In other words, clearing the resistance could fuel a rally for the flagship crypto to over $112k.

Simultaneously, van de Poppe also highlighted where Ethereum price could be headed if BTC manages to make a new record.

In his post, he noted that if Bitcoin hits a new ATH high, it could potentially drive ETH price to $3,000.

This post also aligns with a flurry of recent predictions, where analysts have remained optimistic about the future trajectory for ETH.

Institutional Interest Hints at ETH Price Rally Ahead

The institutional interest is also high in Ether, as evidenced by the recent capital flow into the US Spot Ethereum ETF.

According to Farside Investors’ data, the Ethereum ETF has recorded an influx for 12 consecutive days through June 3. This week, the investment instrument’s inflow totaled $187.7 million.

On the other hand, the US Spot Bitcoin ETF has noted an outflow for the three consecutive days through June 2. However, on June 3, the BTC ETF recorded an inflow of $375.1 million.

Considering that, it appears that the institutions are betting heavily on the ETH’s potential. Besides, the continuing capital flow also indicates that the crypto might continue to maintain a bullish momentum ahead.

Meanwhile, commenting on the Ethereum price’s potential future movements, analyst Carl Moon has shared a key prediction for the asset. In a recent X post, the expert said that if ETH price breaks the $2,700 resistance, it could continue to rally to $3,100.

However, if it loses the $2,604 support, a plunge to $2,300 can be witnessed. Having said that, the investors are keeping close track of the current performance of the second-largest crypto by market cap.

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