Ethereum

2024

when

Spot

<p>The post <a href="https://coinpedia.org/news/ethereum-price-prediction-is-a-breakout-in-2024-still-possible/" rel="noopener noreferrer nofollow">Ethereum Price Prediction: Is a Breakout in 2024 Still Possible?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The strength of <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noopener noreferrer nofollow">Ethereum’s price</a> momentum has weakened considerably. In the last 30 days, it has experienced a drop of at least 5.4%. A few analysts have already expressed their doubts about Ethereum’s ability to hit a new all-time high this year. Have Ethereum investors lost their faith? Let’s see what analysts have to say!&nbsp;</p>
<h2 class="wp-block-heading" id="h-ethereum-s-underperformance-compared-to-tech-stocks-nbsp">Ethereum’s Underperformance Compared to Tech Stocks&nbsp;</h2>
<p>Nick Forster, a crypto analyst, openly challenged the potential of Ethereum to make a big upward move this year, and its ability to compete against the top tech stocks, including Nvidia and Meta, which provided massive returns to their investors compared to Ethereum earlier year.&nbsp;</p>
<p>Since January, Ethereum has achieved nothing more than a 0.98% gain.&nbsp;</p>
<figure class="wp-block-image"><img decoding="async" width="1600" height="809" src="https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-132.png" alt="" class="wp-image-347797" srcset="https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-132.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-132-300x152.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-132-1024x518.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-132-768x388.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-132-1536x777.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-132-150x76.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure>
<p>Forster pointed out that the approval of Ethereum Spot ETFs could not give the digital asset as much momentum as expected.&nbsp;</p>
<h2 class="wp-block-heading" id="h-the-potential-for-an-ether-breakout-what-experts-think">The Potential for an Ether Breakout: What Experts Think&nbsp;</h2>
<p>Forster gave just 10 percent probability for such a breakout. He mentioned three important conditions for such a breakout to happen: the victory of Trump in the 2024 presidential election, the implementation of aggressive rate cuts by the US Federal Reserve, and a sudden rise in global financial liquidity.&nbsp;</p>
<h2 class="wp-block-heading" id="h-what-other-experts-think-about-the-possibility-of-an-ether-rally-nbsp">What Other Experts Think About The Possibility of An Ether Rally&nbsp;</h2>
<p>Not all experts have accepted what Forster opined. Some have expressed their difference of opinion openly. Titan of Crypto sounded extremely optimistic when he expressed his opinion about the future of Ethereum. He asserted that the market would witness an upward move soon. He referenced the observations he made using the Relative Strength Index as a justification for his optimistic position.&nbsp;</p>
<figure class="wp-block-image"><img decoding="async" width="1600" height="1030" src="https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-133.png" alt="" class="wp-image-347798" srcset="https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-133.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-133-300x193.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-133-1024x659.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-133-768x494.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-133-1536x989.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/09/06122955/image-133-150x97.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure>
<p>Yoddha, another analyst with an optimistic outlook on Ether’s future, made bold claims, as he forecast a five-figure growth for Ethereum.&nbsp;&nbsp;&nbsp;</p>
<p>In conclusion, right now, there is not much clarity about the future of Ethereum. Though some experts are optimistic, the existence of opinions like the one shared by Forster openly questions this optimistic thinking. Only time will tell how the market will evolve.&nbsp;</p>
<p>Also Read: <a href="https://coinpedia.org/news/why-crypto-stocks-are-crashing-what-to-expect-next/" target="_blank" rel="noopener noreferrer nofollow">Why Crypto &amp; Stocks Are Crashing? What to Expect Next?</a></p>

Ethereum Price Prediction: Is a Breakout in 2024 Still Possible?

Table of Contents

CoinPedia News

Other articles published on Sep 6, 2024

Nansen CEO Alex Svanevik divested his last Lido (LDO)

SunPump and OKX Wallet Partner to Expand TRON Memecoin Trading with Energy Subsidies

Microsoft Teams market share soars 31%, boosted by AI

Agora-Backed AUSD Stablecoin is Live on Sui

Whales Intensify XRP Transactions

Russia's Bitcoin mining industry reaches $3 billion

Join our free newsletter for daily crypto updates!