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.
Tags Bitcoin Ethereum halving market sentiment
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