Ethereum Price Prediction: Will ETH Hit $10,000 In 2024? – CoinGape
Ethereum (ETH) has recently become the focal point of speculation, particularly regarding its potential surge to $10,000 in the upcoming bull run. According to a post by Altcoin Daily on X, Ethereum has the potential to hit $10,000. The bold Ethereum price prediction has sparked a wave of discussions and analysis within the crypto community.
At press time, Ethereum price was trading around the $2,300 range, making Altcoin Daily’s projection a staggering 350% gain. However, other analysts’ projections and technical indicators suggest that hitting this target would take some time. To understand better, let’s summarise Ethereum’s performance in 2023 while looking at the technical aspects of its performance.
In October 2023, the Ethereum price surged beyond $1,800 and surpassed the $2,000 mark in November. Since then, the second-largest crypto has maintained an upward trajectory in December, showcasing an approximately 14% increase. Despite a recent correction, it continues to hover around $2,300 after almost seven months of relatively stagnant performance.
Also Read: Analyst Predicts 22% Surge In Ethereum (ETH) Price Sparking Market Optimism
A closer look at technical analysis data reveals that Ethereum surpassed December 2023’s Fibonacci pivot R2 level, approaching $2,210, signaling a positive trajectory. However, the brief touch of the R3 level before correction suggests potential volatility. As of now, the technical projections estimate Ethereum to trade between $2,300 and $2,400 by the end of 2023.
Whilst, $2,350 is identified as the immediate goal for 2023 end and support is found between $2,000 and $2,125. Currently, Ethereum’s price is trading well above the 50-day and 200-day EMAs, indicating an upward trajectory. Immediate expectations suggest a rally towards $2,500 towards the beginning of 2024.
Furthermore, ETH price prediction by another renowned analyst paints a compelling picture. In a recent tweet, Rekt Capital, a popular crypto analyst on X, noted that Ethereum could witness a 22% surge if it’s able to regain the $2,274 mark as support. This implies that the ETH price would propel up to more than $2,600.
On the other hand, the ETH forecasts by Changelly for the period from 2024 to 2030 range between $4,000 to $34,700. The projections hint at a volatile journey marked by bullish surges and significant pullbacks. In conclusion, while the $10,000 mark remains an unrealistic projection for 2024, Ethereum’s current trends and technical analysis indicate a promising performance.
Also Read: Ethereum Price Prediction as New Bearish Pattern Threats a Dive Below $2000
Solana Rich List 2023: The Top Holders of the Eco-Friendly Chain
2023 in Review: The Remarkable Bull Runs That Defined the Crypto MarketÂ
DAILY NEWSLETTER
Your daily dose of Crypto news, Prices & other updates..
Cryptocurrency Prices
News Categories
Crypto Topics
Categories
Contact
Company
Categories
Contact
Company
Close