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Ethereum to soar toward $5,000 despite SEC regulatory review

Ethereum to soar toward $5,000 despite SEC regulatory review

As the larger part of the cryptocurrency sector starts to return to its previous bullish trend, Ethereum (ETH) has been among the trendsetters, showing signs of more impressive gains in the future despite the increased regulatory compliance scrutiny from the United States Securities and Exchange Commission (SEC).

Indeed, Ethereum holding the area at above $3,500 could help it skyrocket to $5,000 and more “soon enough,” despite the “classic ‘vaguely worded [fear, doubt, uncertainty, or] FUD’ while at support, according to an X post by pseudonymous crypto analyst CryptoJelleNL published on March 21.

Ethereum price action analysis. Source: CryptoJelleNL

Ethereum price prediction amid scrutiny

As it happens, the crypto market expert was referring to the negative sentiment amid recent reports that suggest the SEC is looking to classify the native token of the popular Proof-of-Stake (PoS) network as a security, according to the US companies that have received subpoenas related to an ongoing investigation.

Specifically, the SEC investigation involves requests that the said companies deliver any data and finance records may have regarding their dealings with the Ethereum Foundation, a non-profit organization in charge of the governance and the development of the Ethereum blockchain.

With this in mind, CryptoJelleNL believes the pessimism is nothing more than a result of the “vaguely worded FUD” amid regulatory compliance questioning, as well as that Ethereum will continue toward the psychologically critical price mark and a new all-time high (ATH) of $5,000 and beyond, in spite of it.

At the same time, artificial intelligence (AI) platforms also predict good times for the largest altcoin by market capitalization, with their Ethereum price prediction seeing it end the year in the range between $3,500 and $6,770, and Ethereum price prediction 2025 projecting even higher moves.

Why is Ethereum going up?

Meanwhile, the Ethereum price at the time of publication stood at $3,540.60, recording a daily gain of 6.97%, while moving to reverse the loss of 10.66% from the past week and also climbing 20.59% on its monthly chart, as per the latest information retrieved on March 21.

Ethereum price 30-day chart. Source: Finbold

In conclusion, Ethereum price has demonstrated strength in the face of the potentially bad news, but the situation in the crypto sector could nonetheless change, which is why it is important to stay on top of any Ethereum news and carry out careful risk analysis before investing in it.

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