The price of *Ethereum (ETH)* has been volatile, currently trading at $2,486.43. October 2024 may see the price trend carry on with its volatile pattern.
If negative market conditions continue, ETH may hit a potential bottom of $2,300 based on recent performance and volume trends.
But if investor mood improves, ETH’s price may level off at roughly $2,582 on average. Positive changes in the cryptocurrency market might push ETH up to a peak of $2,900 this month. Investors ought to keep an eye on important levels of support and resistance, particularly around $2,600.
Bouncing from the psychological barrier of $1,000 in November 2022, Ethereum’s uptrend continues despite the recent pullback to $2150.
Despite the Ethereum ETFs witnessing massive outflows, the bulls gradually take over trend control as the broader market recovers.
Furthermore, with the whales making a comeback for Ethereum, as a smart whale buys 5000 ETH, the altcoin will likely bounce back.
Hence, by the end of 2024, the Ethereum price could reach the $5,000 mark if inflows remain positive and BTC hits $100,000.
On the flip side, the $2150 is expected to hold off supply surges ahead in 2024, making an average of $3525.