Price: $0.43285 4.9088%
Market Cap: 63.59B 1.9008%
Volume (24h): 20.87B 0.4%
Dominance: 1.9008%
Price: $0.43285 4.9088%
Market Cap: 63.59B 1.9008%
Volume (24h): 20.87B 0.4%
Dominance: 1.9008% 1.9008%
  • Price: $0.43285 4.9088%
  • Market Cap: 63.59B 1.9008%
  • Volume (24h): 20.87B 0.4%
  • Dominance: 1.9008% 1.9008%
  • Price: $0.43285 4.9088%
Home > Information news > Ethereum Price Has “Clear Path Ahead” as ETH Eyes $2,700 According to Crypto Analyst – Here’s His Outlook

Ethereum Price Has “Clear Path Ahead” as ETH Eyes $2,700 According to Crypto Analyst – Here’s His Outlook

Release: 2024/01/02 06:11 Reading: 836

Original author:CaptainAltcoin

Original source:https://coinmarketcap.com/community/articles/6592e3d25089537fac38b7c1

Ethereum (ETH) kicked off 2024 by trading around $2,313, up 0.7% on the day. Leading crypto analyst Ali predicts further upside for ETH, citing robust support and lack of significant supply barriers ahead.

“Ethereum looks set for further gains! The path ahead of $ETH is clear, with no significant supply barriers in sight, suggesting a potential rise to $2,700 or beyond,” Ali stated in a recent tweet.

He points to the strong demand wall around $2,000 as a key support level that could cushion any potential corrections. Per Ali’s analysis, 1.74 million addresses currently hold 37.29 million Ethereum around that price zone. This significant support indicates buyers are ready to scoop up any dips around $2,000.

With no major supply walls ahead for Ethereum until the $2,700 area, Ali believes ETH could continue its upside move to retest its all-time high around $4,891 in the months ahead.

Other analysts like Moustache also have a bullish outlook for altcoins in early 2024:

“It has finally happened! BTC.D closed a monthly candle below the EMA50. The last time BTC.D touched/closed below the EMA 50 in the monthly chart, we saw very strong Altseasons shortly afterwards, which historically only happen every few years,” Moustache explained.

Moustache is referencing the Bitcoin Dominance index falling below a key moving average line, which has preceded altcoin run-ups in the past. With Ethereum representing the second-largest cryptocurrency, it could be poised to benefit from another impending Altseason.

Key market analysts predict Ethereum is gearing up for further price gains in 2024. The combination of significant support below, lack of overhead supply barriers, and a potential boost from an impending Altcoin season collectively paint a bullish picture for ETH in the year ahead.

You may also be interested in:

We recommend eToro

74% of retail CFD accounts lose money.
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.

The post Ethereum Price Has “Clear Path Ahead” as ETH Eyes $2,700 According to Crypto Analyst – Here’s His Outlook appeared first on CaptainAltcoin.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.