Ether $ETH has risen almost 10% over the week. ETH has once again approached its monthly high of $3,447.6, but has not been able to surpass it yet. It is worth noting that the overall dynamics over the past seven days have been close to zero, and the final growth was driven by one trading session on Thursday, November 21, when the cryptocurrency surged by 9.34%.
Source: tradingview.com
Although the dynamics were positive, a number of analytical platforms report mixed data on on-chain indicators. For example, IntoTheBlock noted that new addresses on Ethereum remain below the levels of the previous bullish trend, which is likely explained by the growing popularity of second-layer solutions like Base: Despite the ambiguous indicators, artificial intelligence believes in the growth of Ether by the end of the year. ChatGPT-4o predicts that by the end of 2024, ETH will be priced between $3,800 and $4,200. Among the main reasons for growth, the neural network cites strong growth of the ecosystem and widespread acceptance of the cryptocurrency. At the same time, a possible slowdown is noted around the $3,500 level.
From a technical analysis perspective, Ether continues to experience a bullish trend. This is supported by indicators: the price is above the 50-day moving average.
