Latest Ethereum price predictions: $5,000 by the end of 2024.

In this article we see the latest forecasts on the future price of Ethereum offered by the fintech company Finder, which conducted a survey with 40 experts in the cryptocurrency industry in January 2024.

The emerged results speak clearly: the majority of experts are super bullish on the price of ETH, with predictions for the next 6 years talking about figures higher than four zeros.

From a technical analysis perspective, Ethereum could experience a real rally as soon as it breaks the long-term downtrend, which has been ongoing since August 2022, in the chart against Bitcoin.

Let’s see all the details below.

Summary

• Finder’s predictions on the future price of Ethereum
• Technical analysis of ETH-USDT and ETH-BTC charts

Finder’s predictions on the future price of Ethereum

According to a panel conducted in January 2024 by the analysis company Finder, in which 40 fintech market specialists were interviewed, the price of Ethereum could soon skyrocket if it were to meet the announced forecasts.

According to the average of the responses obtained from the participants, by the end of the year ETH could reach $5,000 per token, approaching $4,887, thus increasing its current value by over 100%.

There are even those who have gone so far as to imagine a fiery scenario for Ethereum, hypothesizing a price of $17,000 by the end of 2024. At the same time, there are also those who, going against the tide, support the crypto market bears and predict a price of $1,333.

Approximately 23% of the interviewed speakers believe that the price of ETH will rise in the range of $4,000 to $4,999 at its maximum before the end of 2024, while another approximately 23% believe that we will see the price of ETH within the range of $3,000 to $3,999 in the same time frame.

Expanding our horizons, we see that forecasts indicate a potential growth of the cryptocurrency that could reach $7,492 in 2025, while by 2030 we could reach $19,190.

These numbers, obtained as a simple average of the responses provided by industry experts, are significantly higher compared to those recorded in a similar survey conducted by Finder in October 2023.

The analysts interviewed by Finder also contributed to explaining the reasons for their bullish or bearish biases, providing technical support to the market forecasts provided.
In particular, we see how Damian Chmiel, senior analyst and editor of Finance Magnates, believes that the fate of Ethereum largely depends on the performance that Bitcoin will record:

“The price of Ethereum will reflect what happens with Bitcoin. If I believe in a historical high by the end of 2024 around $70,000 for BTC, I also believe that ETH will reach its historical high, testing the $5,000 level.”

Even Jonathan Hababou Solomon, co-founder and co-CEO of ARIA Algorithmic Ratings & Investment Analysis, agrees with Chmiel’s thesis. He notes a very strong correlation factor between the two assets, but emphasizes that the second largest cryptocurrency by market capitalization could have the upper hand this year:

“Given the strong correlation between bitcoin and ether, it is likely that ether will benefit from bitcoin catalysts such as spot ETFs [bitcoin] and [the halving]. However, I believe that ether has greater potential due to its current market price. There is a general perception that ether offers a better opportunity for higher multiple profits compared to bitcoin.”

According to a slightly less optimistic forecast by Ruslan Lienkha, head of markets at YouHodler SA, the price of ETH is expected to increase in 2024 without breaking any previous highs.

According to his vision, Ethereum’s infrastructure will capture a lot of value in the coming years due to its advantageous technology, but at the same time, competitors will grow alongside it:

“In the long term, the price of assets will increase because Ethereum is the main ecosystem for blockchain projects. However, competition with other blockchain ecosystems will intensify.”

Technical analysis of ETH-USDT and ETH-BTC charts

At this point, to complete the overall picture of the future price predictions of Ethereum, let’s take a look at the ETH-USDT and ETH-BTC charts to identify potential starting points for the next predicted increases in the asset’s value.

Currently, the cryptocurrency is priced at $2417, well above the 50-period moving average on a weekly time frame, with the macro trend reversing after the declines of 2022 and becoming clearly bullish since January 2023.

In recent weeks, Ethereum has had some difficulty in surpassing the $2500 mark, never managing to close candles above the fateful level.
On multiple occasions, Ether has attempted to break out against the dollar, but without managing to surpass the $2800 high.

To give more space to the optimism of the bulls, it will be necessary to break the $2500 mark as soon as possible, trying to break into the area around $3000 as well. The volumes have not yet returned to 2020 levels but are gradually growing.

The RSI indicator is at a medium-high level in the channel but leaves fertile ground for other potential bullish climbs.

Weekly chart of Ethereum price (ETH/USDT)

As for the ETH-BTC chart, we notice that the situation is quite different.

Prices are currently below the 50-period moving average on a weekly time frame, indicating a more bearish outlook.

Since August 2022, the currency of the world’s most famous smart contract platform has recorded a downward trend against the market king Bitcoin, losing about 40% from the highs to the lows of the last 2 years of trading.

By the end of 2023, Ethereum has consolidated within the range of 0.05-0.055, increasing the chances of a trend reversal and fueling positive predictions on the price of the crypto.

If the bottom has really been reached in recent months, then we can expect a year of strong rebounds both for ether and for many altcoins, which will benefit from the loss of power of BTC.

Currently, the most optimistic scenario involves a recovery of 0.07 by mid-2024, with the remaining 6 months of the year in which we could witness an attempt to remove one zero from the chart and bring ETH back to one-tenth of the value of BTC.

The most important resistance is located at 0.085 zone, which has acted as a peak in the chart for the past 5 years, preventing any return to the crazy levels reached during the bull run of 2017.

We are waiting to find out ETH’s next move towards BTC, in order to update price forecasts and identify the most likely targets.

Weekly chart of Ethereum price (ETH/BTC)

Source