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29 March 2024
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Ethereum Price Forecast: ETH will reach $10K


As the cryptocurrency market decline began, Ethereum prices dropped from an all-time high of $4,850 and hit a low of $880.

When prices dropped below the psychological price point of $1,000, many investors feared that ETH prices would touch even lower notes.

However, prices instantly moved above 1K. Today, the price of Ethereum has increased by more than 10% as the cryptocurrency market turns green.

Does this mean that the price of ETH has reached its lowest level and prices are now rising from this point? Will Ethereum reach $10,000 from here? In this Ethereum price prediction article, we try to analyze this. Let’s take a closer look.

Ethereum Price Forecast – ETH price is back on track

At the time of writing this, the price of ETH is at $1,214.88. In the last seven days, the price has increased by almost +13.6%. We already know that the ETH network has noticed a tremendous increase in transaction volume since a reduction in transaction fees.

Prices on the Ethereum network have dropped by nearly 90% since November 2021, and the average price per transaction is less than $6.

Additionally, Vitalik shared an update on the status of Ethereum expansions. Many people expect the first step to move towards Ethereum 2.0 (aka merger) to take place soon.

In fact, there were successful tests on the test server, and many developers anticipated that the mainnet merge would be straightforward. This gave the community a lot of hope.

Many cryptocurrency enthusiasts are worried about Ethereum hitting a price below $600.

Every time prices touched the lower support line, prices bounced back. On the other hand, every time ETH prices reached the higher trend line, prices tended to fall and decrease again.

Now that prices are up more than 20%, we should anticipate a pullback. We can see that prices may drop to $1,116.

However, if the market momentum continues positively, we can predict that prices will touch the $1400 mark first and then the $2000 mark.

Ethereum Price Forecast – Will the $10,000 Ethereum mark happen soon?

There is no doubt that the price of Ethereum can hit the 10K mark. The question remains “when” for now.

In fact, many other analysts expect Ethereum to reach 5K or even 10K in the medium to long term. But for now, ETH must first touch the $4,000 mark.

Looking at Figure 2, we can see how ETH operated to build a restored uptrend after reaching its all-time high towards the low of around $800.

Since then, prices have created a new uptrend. We expect the price to first touch the low of the channel and then revert to 4K in late July 2022.

We recommend waiting for further adjustments and buying ETH at support levels. Of course, sufficient stop-loss levels should also be taken into account, that way you can limit your losses in case the entire cryptocurrency market suffers from bad fundamentals.

Noticing the above charts, we can certainly anticipate that Ethereum touching 10K will take a bit of time. There are numerous milestones that Ethereum prices need to complete before reaching such a high valuation. These technical milestones are as follows:

  • USD 4,000
  • USD 5,000
  • USD 7,500
  • USD 10,000

For now, we wait for Ethereum to touch its first milestone again, ensuring that the bull swoops in towards the next one.

If the cryptocurrency market as a whole doesn’t touch another strong run, the chances of Ethereum touching 10K will start to wane.

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