Will ETH, BTC Register New Highs This Year?

As the volatile 2023 concludes, the Ethereum market price recovers remarkably, forming an ascending triangle pattern in the weekly chart. Buyers are attempting a bullish breakout fueled by the recent October rally of 2023. If buyers manage to cross the Ethereum market value above $2200, the bull run continuation can exponentially increase in 2024. With potential Spot ETF approvals and the Bitcoin Halving effect on altcoins, the price of Ethereum could reach $3825.

The Ethereum price is expected to reach a potential high of $2800 in January 2024, with a peak of $26,575.21 by the end of 2030. As Bitcoin surges past the $40K threshold to approach $45K, Ethereum, the foremost altcoin, experiences a significant boost in value. The upward price trajectory gathers pace, exhibiting no indications of slowing down.

Ethereum’s price action reveals a bullish breakout, surpassing $2200 and targeting the $2400 resistance. Buyer enthusiasm grows, reflecting a potential bullish trend for 2024. Ethereum’s price movement reflects resilience to cross above $2500 and energizes a trend to reach $3000. However, the question remains: Is it too late to buy Ethereum? Or Will Ethereum go up?

The ETH price expectation for January 2024 shows an impressive rally, with a bullish trend in motion and a rising channel pattern in the daily chart. Intraday trading volume is on a recovering trend, supporting the breakout phase leading to a rise in demand. A remarkable jump of 16.64% in the last eight days approaches the overhead resistance at $2400.

If the ETH price sustains the bullish momentum, a bullish trend can cross the $2400 mark, driving a new breakout rally, and reaching $2800 by the end of January 2024. Conversely, downside risk can lead to a sharp downfall and a plunge to $1800.