A technical price indicator, which helps traders assess the state of the cryptocurrencycurrency market, estimates Ether will be valued $5,400 in 2024.
Author binhdangg, who has been confirmed by CryptoQuant, believes that ETH may reach this point in a high-risk situation.
The Mayer multiple oscillator, which compares Ether’s current price to its 200-day moving average (MA), predicts that Ether might hit $5,400 under the high-risk scenario.
Forecasts from the prediction market According to Polymarket, more than half of market players believe Ether will return to its prior all-time high in 2024, up from 45% a month earlier.
Ether’s price may rise to the upper band of the indicator, while Bitfinex analysts noted that this might happen at a much higher price than $5,400. According to CoinMarketCap, the current value of ether is roughly $3,400, which is approximately 27% lower than its peak price of $4,891 on November 16, 2021.
Given the underlying value of the Dencun upgrade, the ETH/BTC pair might hit bull market highs in 2021. Bitfinex experts claim, “Based on the current BTC market price, this would mean an approximate value of $5,900 for Ether.” Once again, by the time this ETH to BTC ratio is reached, we may expect the price of BTC to have climbed from its current levels.
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