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- 1 Ethereum price prediction suggests bulls will continue to lead the rally and may hit new swing highs in 2024.
- 2 ETH price is in an uptrend and forming a bullish continuation pattern.
- 3 Ethereum crypto price continues to trade above the 50-day and 200-day EMA.
Ethereum price prediction suggests bulls will lead the rally in the short run and ETH may hit a new swing high in 2024.
ETH price is already up by 10% approx. in the current month and positive momentum is still intact. It displays a bullish continuation pattern and the price is rising upward by forming higher high candles.
Recently, the Ethereum price breakout of the $2000 hurdle gained the attention of investors and triggered the rally. Gradually, the price continued the momentum supported by a decent buying volume.
The EMAs displayed a golden crossover which boosted the confidence of the long-term investors. Furthermore, it also showcases that the price is in the strong uptrend and bulls are continuing the dominance.
On the higher side, $2400.00 might act as a barrier for the bulls and sellers may try to halt the momentum. So, short-term bullish traders must remain careful and may avoid building fresh longs on the higher levels.
Currently, Ethereum price is trading at $2276.11 with a day decrease of -0.75%. In the last 24 hours volume-to-market cap ratio stands at 5.83%.
Will Ethereum Price Show Further Rally or Consolidate?
Ethereum price is inside the bulls’ grip and trading near the 18-month high. The majority of the gains came in the last two months. So we might say that bulls are active and returning to the track.
ETH is ranked as the 2nd cryptocurrency and holds the dominance of 17% in the whole crypto market. So, if the positive momentum in the overall market continues then ETH remains one of the favorite and best picks for investors.
The analysis says till the ETH price sustains above $1902.00 the buyers’ will remain active and upward momentum may continue. So, it’s better to invest in ETH for higher returns.
Chart Pattern in ETH Price is Positive
The chart pattern ETH price is positive and suggests this crypto has a high growth potential in the future.
Ethereum is one of the trusted decentralized blockchain platforms which is likely to stay for a longer time.
So, its native currency Ether is also likely to perform well in the long run. Therefore, long-term investors and crypto lovers must keep ETH in their portfolios to generate nominal returns.
Conclusion
Ethereum price prediction suggests the rally in ETH may continue in the coming months. It holds the $2000 mark and formed a base that is likely to act as a strong support for bulls.
The analysis suggests till the ETH price sustains above $1902.00, any short-term downfall might get bought up. Therefore, gradually, the ETH price will eventually fly to $2400 in a few months.
Technical Levels
- Resistance levels: $2401.38 and $2500.01
- Support levels: $2140.00 and $1902.01
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
