Ethereum Price Prediction: ETH Could Reach $5,400 This Year

In an unexpected twist, Ethereum’s price prediction suggests a potential surge to $5,400. This prediction leverages the Mayer Multiple oscillator, as per the Crypto Quant platform. 

An analyst from Crypto Quant reveals the significance of monitoring, analyzing, and following the data for short-term price predictions. While this year holds promise, Ethereum (ETH) needs to surpass its previous all-time high, which is not easy.

In addition, a recent analysis from CNF shows that Ethereum ETF prices indicate that market analysts see Ethereum playing a significant role in the 2024 crypto market rally. This optimism is driven by the historical trends and Ethereum’s recent performance. 

Despite the institutional traders’ cautious approach, Ethereum’s bullish trend is expected to persist, potentially resulting in a 22% increase in its price. 

Moreover, this increase is supported by the anticipated fundamental enhancements from the Dencun upgrade, which could elevate the ETH/BTC ratio to levels seen in the 2021 bull market. According to analysts from Bitfinex, this development could push Ethereum’s price to approximately $5,900, based on the current BTC market price. 

Meanwhile, recent revisions made to the Ethereum Foundation’s website suggest increased attention from the US Securities and Exchange Commission (SEC). This nonprofit organization, responsible for Ethereum’s governance and development, witnessed the removal of phrases suggesting confidential investigations from its website on February 26.

As per freelance Ethereum developer Pablo Pettinari, “The Ethereum Foundation (Stiftung Ethereum) has never been contacted by any agency in a manner necessitating nondisclosure. Stiftung Ethereum will openly reveal any government agency inquiries beyond regular business dealings.”

Despite the regulatory scrutiny, Ethereum’s price has seen a downturn. As of this writing, ETH is trading at $3,435.34, showing a 2.95% in the last 24 hours. Its 24-hour trading volume also decreased by 38.53% to $19.52 billion.