Ethereum is projected to reach $5,200 as market conditions improve and privacy initiatives gain momentum. Shawn Young, chief analyst at MEXC Research, highlighted the Ethereum Foundation's new Privacy Cluster and integrations like Railgun as significant factors. Railgun's token saw a nearly 300% increase following the announcement. Ray Youssef of NoOnes emphasized the need for Ethereum to reclaim $4,500 to achieve the $5,000–$5,200 range by Q4. The cryptocurrency has rebounded above $4,100 after a $19 billion leveraged liquidation event.