ETH, the second-largest cryptocurrency by market cap, has recently hit a monumental milestone by surpassing $4,000 in value. This sudden surge has left many investors and analysts wondering just how high ETH could go in the future.
Bitcoin also surpassed $71,800 for the first time, and other altcoins are also seeing a resurgence in March 2024. However, ETH’s success is taking the spotlight as it continues to break records and surpass all expectations.
As we found on CoinMarketCap, Ethereum is currently trading at $4,029.69, boasting a market capitalization of $479 billion. This significant milestone is supported by an 80% surge in trading volumes to $23.4 billion, indicating strong upward momentum.
How High Will ETH Go in 2024?
On November 16, 2021, Ethereum achieved a new record high of $4,891. However, the ETH Coin, the second-largest cryptocurrency, is currently only 18% below its previous peak. Investors are closely watching for potential price movements.
According to our technical analysis, the Ethereum Coin can reach a maximum price level of $9,441.98, with an average trading value of $8,676.42 by the end of 2024. However, if the crypto market experiences any bearish environment, the value of the ETH Coin may decrease to $7,825.79 by 2024.
With Ethereum (ETH) showing strong signs of recovery, early technical indicators are suggesting a potential repetition of historical patterns in this market cycle. Should Bitcoin maintain its position above $71,500, ETH and other alternative cryptocurrencies might exhibit a positive trend in the upcoming days.
However, as we all know, the cryptocurrency market is highly volatile and unpredictable. Therefore, it’s important to keep an eye on market trends and updates to make informed investment decisions.
Also Read: Shiba Inu (SHIB) Adoption Skyrockets by 2,000% in March: Is an All-Time High Near?
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
