{"id":20180,"date":"2024-06-17T14:12:28","date_gmt":"2024-06-17T14:12:28","guid":{"rendered":"https:\/\/buycrypt.com\/blog\/?p=20180"},"modified":"2026-07-14T15:51:45","modified_gmt":"2026-07-14T15:51:45","slug":"eth-at-5000-still-on-the-menu-for-2024-analyst","status":"publish","type":"post","link":"https:\/\/buycrypt.com\/blog\/en\/eth-at-5000-still-on-the-menu-for-2024-analyst\/","title":{"rendered":"ETH at $5,000 Still on the Menu for 2024: Analyst"},"content":{"rendered":"<p><em><strong>Check out why ETH\u2019s price may tap fresh peaks later this year.<\/strong><\/em><\/p>\n<ul>\n<li>Despite a recent price decline, analysts expect Ethereum to reach $5,000 by the end of 2024, driven by strong support at $3,500.<\/li>\n<li>Key metrics like a low RSI and increased self-custody movements suggest a potential rally for ETH.<\/li>\n<\/ul>\n<h2>New ATH Incoming?<\/h2>\n<p>Ethereum (ETH), just like many other leading cryptocurrencies, witnessed a severe correction at the start of June, which interrupted its bullish path. Currently, it trades at a little over $3,500 (per CoinGecko\u2019s data), representing a 7% decline on a two-week scale.<\/p>\n<p>Nonetheless, some industry participants remain optimistic about its future, speculating that a new all-time high price could be reached before the end of 2024. One example is the X user Jelle, who claimed that ETH has \u201csuccessfully turned\u201d the $3.5K mark into support. Based on this, the analyst expects a rally toward the coveted level of $5,000 sometime this year.<\/p>\n<p>Ali Martinez chipped in, too, claiming that whales have purchased over 700,000 ETH in the last three weeks, equaling a staggering $2.48 billion (at current rates). Such a move reduces the available supply of Ethereum on exchanges and could lead to a price rally (assuming demand stays the same or rises).<\/p>\n<p>Another analyst who recently predicted a bright future for the second-largest cryptocurrency in terms of market capitalization is Wolf. The X user argued that it has been in a bullish mode since the beginning of the year. They forecasted enhanced volatility in the following months and an eventual bull run to as high as $5,000 at the end of Q3 2024.<\/p>\n<h2>What are Indicators Signaling?<\/h2>\n<p>Important on-chain metrics, such as the Relative Strength Index (RSI) and ETH\u2019s exchange netflow, also hint that the asset\u2019s valuation could take off soon.<\/p>\n<p>The RSI, a technical analysis tool that measures the change and speed of price movements, has not dropped below a ratio of 70 since May 23. Anything above that level signals that ETH is overbought and could be headed for correction.<\/p>\n<p>For their part, Ethereum exchange inflows have significantly surpassed inflows in the past month (during most days). The shift from centralized entities toward self-custody methods is viewed as bullish since it decreases the immediate selling pressure.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.shortpixel.ai\/spai\/w_1532+q_lossless+ret_img+to_webp\/https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/06\/ETH-Exchange-Netflow.png\" alt=\"ETH Exchange Netflow\" \/><\/p>\n<p>Source: www.cryptopotato.com<\/p>\n<p><!-- related-seo --><\/p>\n<div class=\"related-seo\">\n<h3>Related articles<\/h3>\n<ul>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/ethereum-price-analysis-is-3-7k-realistic-for-eth-or-is-a-correction-to-3k-coming\/\">Ethereum Price Analysis: Is $3.7K Realistic for ETH or is a Correction to $3K Coming?<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/ethereum-price-analysis-bullish-breakout-toward-4k-more-likely-for-eth\/\">Ethereum Price Analysis: Bullish Breakout Toward $4K More Likely for ETH<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/after-surging-by-25-to-multi-week-highs-where-is-eth-heading-next-ethereum-price-analysis\/\">After Surging by 25% to Multi-Week Highs, Where Is ETH Heading Next? (Ethereum Price Analysis)<\/a><\/li>\n<\/ul>\n<\/div>\n<p><!-- \/related-seo --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts predict Ethereum may hit $5000 by the end of 2024 despite recent price dips.<\/p>\n","protected":false},"author":1,"featured_media":20203,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"ETH Price $5000 Still Possible in 2024: Analyst Forecast","rank_math_description":"Discover why analysts expect ETH to reach $5000 in 2024. Read the detailed forecast and key factors behind Ethereum's potential rally.","rank_math_focus_keyword":"ETH price 5000 dollars","_forpost_external_id":"","_seorun_article_id":"","footnotes":""},"categories":[369],"tags":[11800,6378,2893,2743,4730],"class_list":["post-20180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-cryptocurrency","tag-eth","tag-ethereum","tag-forecast","tag-price","resize-featured-image"],"lang":"en","translations":{"en":20180,"uk":20181,"ru":20182},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/20180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/comments?post=20180"}],"version-history":[{"count":3,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/20180\/revisions"}],"predecessor-version":[{"id":47663,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/20180\/revisions\/47663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media\/20203"}],"wp:attachment":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media?parent=20180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/categories?post=20180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/tags?post=20180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}