price Ether It could reach $5,400 in 2024, according to technical price indicators traders use to assess whether a cryptocurrency is overbought or oversold.
Ether price may exceed $5,400 in 2024
Ether could break above $5,400 in a high-risk scenario based on the Mayer multiple oscillator, a ratio based on comparing Ether’s current price with its 200-day moving average (MA). This analysisShareBy Binhdangg, CryptoQuant certified author in the X post on March 21st.
Bitfinex analyst says:
“We expect oversold conditions this year based on the fact that the cyclical behavior of assets will fluctuate between the overbought and oversold bands of the indicator. However, this is a dynamic moving average and the upper band may be above the $5,400 level. When the price actually reaches those levels.”
The price of Ether is currently trading above $3,400, approximately 27% away from the all-time high of $4,891 on November 16, 2021, according toinformationof CoinMarketCap
ETH/BTC will return to previous bull market highs in 2021: Bitfinex expects
Looking at the fundamental value increase from the Dencun upgrade, the ETH/BTC trading pair may reach the peak of the original bull market in 2021, as Bitfinex analysts expect.
The possible approval of the current Spot Ether ETF will be the most anticipated event. And it could affect Ether’s short-to-medium-term price path.
However, Ether ETF approval is less certain than previous Bitcoin ETF approvals, according to Recharge Capital founder John Lo, which is expected to still be subject to additional regulatory scrutiny from the SEC.
United States Securities and Exchange Commission It recently postponed a decision on VanEck’s Ether ETF application to May 23. It also postponed a March 19 decision on Hashdex and ARK 21Shares. with a final deadline for a decision at the end of May.
refer : cointelegraph.com
picture coinjournal.net
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