Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Ethereum May Hit $4000 Before End of Year, Bullish Momentum Predictions

Ethereum May Hit $4000 Before End of Year, Bullish Momentum Predictions

CryptoNewsCryptoNews2024/11/16 11:55
By:Arslan Butt
Last updated:
November 16, 2024 02:00 EST

Ethereum (ETH) is trading at $3,125, up over 2% in the past 24 hours, with a trading volume of approximately $30.65 billion. The cryptocurrency holds a market capitalization of $376 billion, securing its position as the second-largest crypto asset.

While Ethereum has gained bullish momentum, technical indicators reveal a bearish retracement phase, suggesting short-term corrections before a potential breakout.

Ethereum Price Prediction; Technical Analysis and Key Levels

On the daily chart, Ethereum has struggled to sustain momentum above the $3,447 resistance zone, halting its recent rally. The price has retraced to the $3,000 mark, corresponding with the 38.2% Fibonacci retracement.

Ethereum holds steady at $3,125, eyeing $3,188 resistance. Key support lies at $2,770 (61.8% Fib). Breakout above $3,447 could target $4,000+. #ETH #Crypto pic.twitter.com/5Cr3LEhYqb

— Arslan Ali (@forex_arslan) November 16, 2024

Technical analysis suggests that Ethereum could undergo a deeper correction, with key support levels at $2,899 (50% Fibonacci) and $2,770 (61.8% Fibonacci).

The $2,770 level holds particular significance, as it previously acted as a triple-top resistance and has now transformed into a major support zone.

A successful rebound from this level could reignite bullish momentum, allowing Ethereum to target higher resistance zones.

Ethereum May Hit $4000 Before End of Year, Bullish Momentum Predictions image 1

Technical Indicators:

  • RSI: The Relative Strength Index (RSI) sits at 62, indicating bullish sentiment but nearing overbought conditions, which could slow upward momentum.
  • 50-Day EMA: Positioned at $3,029, the 50-day Exponential Moving Average acts as immediate support, suggesting stability above this level.

The Pectra Upgrade: A Game-Changer for Ethereum?

Ethereum’s bullish outlook is further bolstered by the upcoming Pectra Upgrade, expected to enhance scalability, security, and usability. AstroCryptoGuru , a prominent analyst, forecasts Ethereum reaching $4,000 due to the upgrade’s transformative impact.

I continue to slowly add #Ethereum
Price Target $4000

"The Pectra upgrade is expected to be the largest in Ethereum's history in terms of the number of Ethereum Improvement Proposals (EIPs) it includes.
The Pectra upgrade is expected to improve Ethereum's security, scalability,… pic.twitter.com/ENCfiGiaWP

— Crypto Damus (@AstroCryptoGuru) November 13, 2024

Key Features of the Pectra Upgrade:

  • Scalability Boost: Improved transaction capacity and potentially reduced gas fees.
  • Enhanced Security: Strengthened safeguards to protect against network vulnerabilities.
  • Developer Growth: Likely to attract more developers and institutional users, increasing adoption.

AstroCryptoGuru tweeted:
“The Pectra upgrade could drive Ethereum demand, setting the stage for a $4,000 price target.”

The upgrade aims to resolve Ethereum’s network congestion issues and reduce costs, making it more accessible to users and developers. These improvements are expected to solidify Ethereum’s position as a leader in the blockchain space.

Outlook: Can Ethereum Reach $4,000?

Ethereum’s near-term trajectory depends on its ability to hold key support levels and break critical resistance zones. If ETH drops to $2,770, this level is expected to act as a robust support, potentially triggering a strong rebound.

On the upside, a sustained breakout above $3,188 could see Ethereum testing $3,447 and $3,633. A bullish rally beyond these levels would set the stage for $4,127 and, eventually, the highly anticipated $4,000 milestone.

Key Insights:

  • Support Levels: $2,770 serves as a critical support zone, bolstered by the 61.8% Fibonacci retracement.
  • Resistance Zones: Ethereum must break $3,188 and $3,447 to target $4,000.
  • Catalyst: The Pectra Upgrade is expected to enhance Ethereum’s adoption and performance, fueling long-term price growth.

Ethereum’s momentum is boosting confidence in blockchain, driving interest in projects like Flockerz, a meme coin revolutionizing community-driven investments.

Flockerz Presale Nears $2M: Last Hours Before Price Hike

Flockerz ($FLOCK) is revolutionizing meme coins with its vote-to-earn model, empowering holders through its Flocktopia DAO.

The presale has raised $1,964,015 out of a $2,131,271 target, with just over 1 day and few hours remaining before the price rises to $0.0060289.

Ethereum May Hit $4000 Before End of Year, Bullish Momentum Predictions image 2

Key Highlights:

  • High Staking Rewards: Up to 7,888% APY for long-term holders.
  • Decentralized Governance: Holders shape the project’s future.
  • Final Opportunity: Buy $FLOCK now at the current rate.

Join one of Web3’s most dynamic projects before the price increases. Buy with ETH, BNB, USDT, or a bank card via the official website.

Visit the Flockerz Presale Website .

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Trending News Price Predictions Recommended Articles
Price Analysis Cardano Joins Top 10 Cryptos – Will ADA Challenge Solana Next? 2024-11-15 12:33:32 , by Simon Chandler
Industry Talk XRP Keeps Climbing With $7 Billion in Volume – How Soon Until It Hits a New High? 2024-11-15 20:48:57 , by Hassan Shittu
Industry Talk Best Crypto to Buy Now November 15 – Brett, Hedera, XRP 2024-11-15 17:23:57 , by Trent Alan
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Mars Weekly | CARDS market cap surpasses $650 million, reaching a record high; probability of a 50 basis point Fed rate cut in September is 6.6%

Ethereum Foundation has released an end-to-end privacy roadmap, focusing on three main areas: privacy writing, reading, and proof, and plans to launch the experimental L2 PlasmaFold. CARDS market cap hits a record high, and pump.fun's live stream numbers have surpassed Rumble. The Shibarium cross-chain bridge suffered an attack, resulting in a loss of $2.4 million. Summary generated by Mars AI. The accuracy and completeness of this summary generated by the Mars AI model are still in the iterative update stage.

MarsBit2025/09/14 20:20
Mars Weekly | CARDS market cap surpasses $650 million, reaching a record high; probability of a 50 basis point Fed rate cut in September is 6.6%