Standard Chartered Raises Ethereum Price Forecast To $7,500; Chainlink About To Hit 4-Year Peak

The crypto market has witnessed a massive surge in activity and prices in the past few weeks, causing top analysts to review their business. One such firm is Standard Chartered.

Reports reveal that Standard Chartered has raised its Ethereum price forecast to an impressive $7,500, signalling growing confidence in the crypto giant. At the same time, Chainlink is on the verge of hitting a 4-year peak, with analysts predicting it could cross $30.

Ethereum (ETH) Price Predicted To Hit $7,500 By Year’s End

Standard Chartered has increased its year-end Ethereum target to $7,500 compared to its previous target of $4,000. The bank made the adjustments, citing high engagement and whale accumulation. 

The adjusted estimate implies a premium of close to 60% on Ether compared to its 3 1/2 years high of $4,700, which it attained last week on Wednesday. This bullish move is because people are growing confident in the long-term value illumination of Ethereum, and the influx and investor participation are broadening at both retail and institutional levels.

In response to the news, Tom Lee, the CIO of Fundstrat Capital, said that ETH’s surge to above $7,500 would be one of the most prominent macro trades of the next decade. 

Lee also hinted that Standard Chartered’s new year-end target might still be conservative, given the momentum building around Ethereum’s network upgrades, DeFi expansion, and broader blockchain integration. 

In the meantime, the Ethereum price trades above the $4,700 level after a massive uptick on Wednesday. CoinMarketcap data indicates the value of the altcoin has increased by 30.2% on the 7D chart. If this rally continues, ETH could hit $5,000 soon.

Chainlink (LINK) Targets 4-Year High As Prices Skyrocket

Chainlink is one of the top DeFi coins in the news lately, following its terrific price movement. According to CoinMarketcap, the Chainlink price has been on an uptrend since August.

The value of the cryptocurrency shot up from $15.94 at the start of August to $24.52, the highest price in six months. This recent rally comes after the Oracle network announced on X that its Total Value Secured (TVS) has crossed $93 billion.

Meanwhile, Chris Barrett added that Chainlink is currently securing $82.47 billion in Ethereum-based projects. This metric positions Chainlink as one of the top DeFi projects in the market.

Looking ahead, the value of LINK could skyrocket. Analyst Johnny says the price of Chainlink trades in a triangular pattern. The analyst expects the Chainlink price to break out in the coming days. A potential target is the $30 region, a level the DeFi coin has not reached in 4+ years.

Another analyst, Sanujit.eth told his followers that the value of Chainlink may soar to $35-36.5. He said that if the upsurge lingers, the LINK price may soar to $43. Meanwhile, the RSI indicator shows that the altcoin is in an overbought position. So, the value of Chainlink could either consolidate for a while or correct before continuing its uptrend.

Promising Growth Ahead for Ethereum and Chainlink

These two altcoins that have the potential to hit new levels soon are Chainlink and Ethereum. Chainlink’s price could cross the $30 mark soon after nearly four years. Moreover, the Ethereum price is already close to a new peak.