Ethereum: ETH Could Hit $3500 in Q1, But There's a Catch – Watcher Guru
In a recent tweet, Michaël van de Poppe, the founder of MN Trading, sheds light on Ethereum’s current trajectory, emphasizing its ongoing momentum.
However, he points out a significant gap that Ethereum needs to bridge to attain parity with Bitcoin. Van de Poppe anticipates a phase of consolidation before Ethereum can forge ahead, aiming for the ambitious target range of $3,000 to $3,500 in the first quarter of 2024.
#Ethereum is still showing momentum but has a big gap to gain in order to be at the same level as Bitcoin.
We’ll see some consolidation before continuing towards $3,000-3,500 during Q1 2024. pic.twitter.com/gz3T6dHl6K
Also read: Top 3 Cryptocurrencies To Watch In 2024
As of the latest data, Ethereum (ETH) has witnessed a remarkable year-to-date surge of 77.3%. Despite its upward journey, ETH is currently facing a 6% drop in value, trading at $2,219.68. The 24-hour trading range reflects a low of $2,113.93 and a high of $2,385.12, underscoring the inherent volatility in the cryptocurrency market.
Changelly analysts contribute their perspective to Ethereum’s future, projecting a potential surge to $3,000 by July 2024. However, they caution that these predictions are subject to fluctuations based on overall market conditions.
Also read: Ripple (XRP) or Cardano (ADA): Which Coin Will Hit $1 in January 2024?
The volatile nature of the crypto market necessitates a cautious approach, emphasizing the influence of various factors on Ethereum’s price trajectory.
So, while the ride may prove choppy in the interim, ETH’s long-term technical picture remains starkly bullish. Another wave higher appears imminent; its scale is becoming the next key question.
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.