Thursday, April 18, 2024

Can Ethereum Reach $4,868? Long-Term Price Prediction Explores 30% Growth.

With a price that has broken over the middle of the market range between the January low of $884.51 and the November 2021 high of $4,485.32, Ethereum (ETH) is trading with a positive bias.

The price of Ethereum can reach its peak in November 2021.

Following a positive surge above the psychological $2,000 mark in November 2023, the price of Ethereum (ETH) is now above the 50% Fibonacci retracement level at $2,684.92.

The price of ETH may continue to rise and break through the $3,602.43 barrier before moving higher to the $4,485.32 local peak. Further gains would be possible if the weekly candlestick close remained above $3,602.43.

The biggest altcoin by market capitalization might recover the $4,868.00 range high in a very optimistic scenario. This would represent a 30% increase over the present levels.

The numerous green Awesome Oscillator (AO) histogram bars in positive territory show that bulls are still strong in the ETH market. This may be advantageous for the upside, even though Ether is severely overbought.

In contrast, the Ethereum price may retest the $2,684.92 market range midpoint if the $3,602.43 level persists as resistance in the weekly period. A break and close below this level would refute the bullish argument.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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