CoinVoice has recently learned that according to Cointelegraph, ETH is about to break through the psychological level of $3,000, but analysts warn that there may be more downside before the breakthrough.
Technical analyst Mikybull said, “According to the daily chart, ETH’s inverse “head and shoulders” reversal price pattern has a short-term price target of $3,000.” Technical analysts use the head and shoulders pattern as a signal that forms at the end of a downtrend, marking a bullish price reversal. Other analysts predict that Ethereum’s all-time high could occur in the first quarter of 2025.
Cryptocurrency trader Daink shared his technical analysis that Ethereum price could reach $4,000 by the end of the year, writing in an Oct. 17 post: “A new all-time high will come in Q1 2025, but for now I think it will be $4,000.”
Anonymous cryptocurrency analyst Ignas said that Ethereum's price weakness may be due to Ethereum losing ground in the first layer (L1) blockchain innovation battle. [Original link]
