Prediction markets indicate that Ether is expected to reach $5,000 by the end of August, with Polymarket users assigning a 64% chance to this outcome. The current trading price of Ether is $4,600, while the probability of a new all-time high hitting $5,000 stands at 87%. However, analysts warn of potential corrections to levels between $4,000 and $4,400 if key price supports are breached. Bullish projections for this year have been fueled by strong technical patterns and on-chain metrics. Other prediction sites like Kalshi show similarly optimistic odds, with a 92% chance for new highs before September. Trader Rekt Capital suggests that Ether needs to maintain support at around $4,631 to pursue further gains, cautioning that a failure to do so could result in significant price retracements. Overall, while bullish sentiment persists, careful monitoring of price dynamics is essential in the volatile crypto market.

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