Even though the SEC approved ETH-based ETFs this year, Ethereum (ETH) has had trouble gaining traction. The ETH ETFs did not receive the same level of excitement as the Bitcoin (BTC) ETFs, which helped push the price of BTC to a new all-time high earlier this year.
ETH is down 1.2% in the daily charts, 7% in the weekly charts, and 8% in the 14-day charts. However, it has maintained some gains in the monthly and yearly charts, rallying 0.7% and 29.3%, respectively.
While ETH may have had a rough year in 2024, the asset might be on its way to a new all-time high.
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Analyst Predicts Ethereum May Hit $10,000
According to prominent cryptocurrency analyst Ali Martinez, ETH’s movements mimic the S&P 500. The analyst anticipates the current dip to be the last one before the asset’s price triples and hits $10,000. Hitting $10,000 from current price levels will entail a rally of about 311%. Reaching $10,000 will also mean a new all-time high price point for the second-largest crypto project by market cap.
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CoinCodex analysts do not anticipate ETH’s breakout anytime soon. The platform predicts ETH will trade at around the $2,500 level for most of November, hitting $2,516.27 on Nov. 30, 2024.
Changelly analysts also do not anticipate that Ethereum (ETH) will soon breach the $10,000 mark. The platform predicts ETH will hit $10,123.50 in March 2028, about four and a half years from now.
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Telegaon analysts also predict ETH to breach the $10,000 in 2028. The platform predicts ETH will trade at a potential maximum price of $10,562.86 in 2028.
Ethereum (ETH) may rally after the US Presidential election. Many analysts have predicted that the crypto markets will rally if Donald Trump gains power. However, how ETH’s movements play out remains to be seen.