{"id":666331,"date":"2024-12-23T11:00:25","date_gmt":"2024-12-23T11:00:25","guid":{"rendered":"https:\/\/uniquehot.com\/?p=666331"},"modified":"2024-12-24T07:25:24","modified_gmt":"2024-12-24T07:25:24","slug":"can-ethereum-break-3500-before-end-of-2024-analyst-weighs-in","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/can-ethereum-break-3500-before-end-of-2024-analyst-weighs-in\/","title":{"rendered":"Can Ethereum Break $3,500 Before End Of 2024? Analyst Weighs In"},"content":{"rendered":"

As 2024 nears its conclusion, Ethereum price fluctuations are being closely monitored. The trajectory of the cryptocurrency is critically influenced by key resistance and support levels, as indicated by recent analysis from crypto experts, which suggests a cautiously optimistic outlook.<\/p>\n

Related Reading: Ethereum Adoption Grows As BlackRock ETF Secures 1 Million ETH<\/a><\/div>\n

Important Price Levels To Monitor<\/h2>\n

Analyzing cryptocurrencies, Justin Bennett emphasized the importance of Ethereum recovering the $3,540 level over the weekly period on December 22. This pricing range is regarded as necessary to show a potential change in the market toward optimism.<\/p>\n

Should Ethereum be unable to clear this barrier, it runs the danger of sliding below the significant support zone of $3,000, leading to a drop toward $2,600. For investors as well as speculators, a drop of this degree would be costly.<\/p>\n

\n

As bullish as I’m turning with the overall setup going into 2025, buyers still have work to do.<\/p>\n

For example, $ETH<\/a> needs to recover $3,540 on the weekly time frame to look bullish next week.<\/p>\n

Buyers have 33 hours to get it done.#Ethereum<\/a> pic.twitter.com\/cAChCbJxjd<\/a><\/p>\n

\u2014 Justin Bennett (@JustinBennettFX) December 21, 2024<\/a><\/p><\/blockquote>\n

\"\"<\/p>\n

Market Sentiment And Analyst Predictions<\/h2>\n

The analysis by Titan of Crypto who utilized the Ichimoku cloud approach to predict probable recovery further strengthens the optimism surrounding Ethereum.<\/p>\n

The analyst noted that Ethereum has retested some critical levels, which gives the impression that the present correction cycle is about nearing its end. The strength of Kumo Cloud’s support line indicates that Ethereum may well form a base for higher moves if it can manage to hold on to the existing levels.<\/p>\n

\"\"
Ether market cap currently at $401 billion. Chart: TradingView.com<\/a><\/figcaption><\/figure>\n

Whales Ramp Up Accumulation<\/h3>\n

Meanwhile, Ethereum whales<\/a> have increased their holdings and amassed about 340,000 ETH, which is worth more than $1 billion, in just a few days. This rise in accumulation shows that big investors are becoming more confident of the prospects of the altcoin.<\/p>\n

\n

Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours \u2013 Details https:\/\/t.co\/fZe8jWmQ3S<\/a><\/p>\n

\u2014 Jose JM (@CryptoJoseJM) December 22, 2024<\/a><\/p><\/blockquote>\n

In addition, spot Ethereum ETFs have garnered inflows of over $2 billion since their introduction in the US market, which is indicative of the growing interest in these instruments. If regulatory authorities permit staking yields within these funds, analysts anticipate that this trend could surpass Bitcoin ETFs by 2025.<\/p>\n

Ethereum Price Forecast<\/h3>\n

At the time of writing, Ether was trading at $3,330<\/a>, down 0.7% and 15.7% in the daily and weekly timeframes, data from Coingecko shows.<\/p>\n

Based on how the Ethereum market is doing right now, there will likely be a positive upward trend within the next week, despite Ether’s numbers flashing red in the charts. <\/span><\/p>\n

Analysts are hopeful about its chances of recovering, even though it is selling at a 21% discount to what they think it will be worth in a month.<\/span>
\n<\/span><\/p>\n

\"\"<\/p>\n

Source: CoinCheckup<\/a><\/pre>\n
A potential breakout that could test critical resistance levels is being indicated by technical indicators such as the Relative Strength Index (RSI) and Moving Averages.<\/p>\n
Ethereum is anticipated to experience a robust development trajectory in the medium to long term, with a 35% price increase within the next three months and a remarkable 100% growth within a year, according to projections.<\/a><\/p>\n
Featured image from DALL-E, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
As 2024 nears its conclusion, Ethereum price fluctuations are being closely monitored. The trajectory of the cryptocurrency is critically influenced by key resistance and support levels, as indicated by recent analysis from crypto experts, which suggests a cautiously optimistic outlook. Related Reading: Ethereum Adoption Grows As BlackRock ETF Secures 1 Million ETH Important Price Levels To Monitor Analyzing cryptocurrencies, Justin Bennett emphasized the importance of Ethereum recovering the $3,540 level over the weekly period on December 22. This pricing range is regarded as necessary to show a potential change in the market toward optimism. Should Ethereum be unable to clear this barrier, it runs the danger of sliding below the significant support zone of $3,000, leading to a drop toward $2,600. For investors as well as speculators, a drop of this degree would be costly. As bullish as I’m turning with the overall setup going into 2025, buyers still have work to do. For example, $ETH needs to recover $3,540 on the weekly time frame to look bullish next week. Buyers have 33 hours to get it done.#Ethereum pic.twitter.com\/cAChCbJxjd \u2014 Justin Bennett (@JustinBennettFX) December 21, 2024 Market Sentiment And Analyst Predictions The analysis by Titan of Crypto who utilized the Ichimoku cloud approach to predict probable recovery further strengthens the optimism surrounding Ethereum. The analyst noted that Ethereum has retested some critical levels, which gives the impression that the present correction cycle is about nearing its end. The strength of Kumo Cloud’s support line indicates that Ethereum may well form a base for higher moves if it can manage to hold on to the existing levels. Whales Ramp Up Accumulation Meanwhile, Ethereum whales have increased their holdings and amassed about 340,000 ETH, which is worth more than $1 billion, in just a few days. This rise in accumulation shows that big investors are becoming more confident of the prospects of the altcoin. Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours \u2013 Details https:\/\/t.co\/fZe8jWmQ3S \u2014 Jose JM (@CryptoJoseJM) December 22, 2024 In addition, spot Ethereum ETFs have garnered inflows of over $2 billion since their introduction in the US market, which is indicative of the growing interest in these instruments. If regulatory authorities permit staking yields within these funds, analysts anticipate that this trend could surpass Bitcoin ETFs by 2025. Ethereum Price Forecast At the time of writing, Ether was trading at $3,330, down 0.7% and 15.7% in the daily and weekly timeframes, data from Coingecko shows. Based on how the Ethereum market is doing right now, there will likely be a positive upward trend within the next week, despite Ether’s numbers flashing red in the charts. Analysts are hopeful about its chances of recovering, even though it is selling at a 21% discount to what they think it will be worth in a month. Source: CoinCheckup A potential breakout that could test critical resistance levels is being indicated by technical indicators such as the Relative Strength Index (RSI) and Moving Averages. Ethereum is anticipated to experience a robust development trajectory in the medium to long term, with a 35% price increase within the next three months and a remarkable 100% growth within a year, according to projections. Featured image from DALL-E, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":666347,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[142,6664,8323,4854,1946,14781],"class_list":["post-666331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoins","tag-crypto","tag-eth","tag-ether","tag-ethereum","tag-whales"],"acf":[],"yoast_head":"\nCan Ethereum Break $3,500 Before End Of '24? Analyst Weighs In<\/title>\n<meta name=\"description\" content=\"As 2024 nears its conclusion, Ethereum price fluctuations are being closely monitored. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Can Ethereum Break $3,500 Before End Of 2024? 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