Ethereum Could Be Prepping for a Big Weekend
Ethereum (ETH) gained 0.58% today, slowing down from its week of 15.92% growth.
However, Ethereum may simply be dipping before it builds up steam for an impressive weekend boost. The crypto token climbed from $2,920 on February 23rd to today’s price of $3,420 (ETH/USD). That massive increase may look to be coming to an end, but the overall crypto market is still up. There is reason to expect a bullish weekend.
Looking over at Bitcoin (BTC), the leading crypto coin started to drop today, actually posting a decrease over a 24-hour period before it turned around. Now, Bitcoin is showing a 1.41% gain over the previous day. What looked like a price correction is turning into a pit stop on an extended bullish run.
Ethereum may be pulling a similar move, slowing slightly before shooting up over the next few days. Trade volume is down at the moment and momentum is slowing, but this coin has been outperforming Bitcoin recently and could do so again.
Price Prediction for Ethereum
We expect Ethereum to keep moving upward, climbing past $3,550 this weekend and getting closer to the $4,000 level that is very possible this year. It is likely that Ethereum will achieve an all new record high in 2024? With the market moving robustly and Ethereum showing plenty of promise already, it is certainly possible.
We suspect 2024 may be a year for new records for a number of cryptos, including Bitcoin. As each major coin passes their old milestones, that lifts the market and helps other coins gain more consumer interest.
The bulls may not be done with Ethereum, but if they do start to pull out, we expect Ethereum to stay above the $3,000 level. It is important that ETH retain its recent gains if it is going to catch sight of its all-time record this year.
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