Price Analysis View Non-AMP

Bitcoin Above $72,000-Here’s When Ethereum Price May Make it to $4000

Published by
Sahana Vibhute

Why is Ethereum’s price not surging? Will ever ETH price ever reach $3000 this quarter?  

Ethereum traders seem to be seeking an answer to the above as the Ethereum price is constantly failing to rise above $2,800. Now that the BTC price is approaching its highs, the second-largest token was expected to follow the trend as it usually did. Unfortunately, the price remains stuck within a range with fewer possibilities of breathing above the resistance. 

The current trade setup suggests the trader’s attention has shifted away from the token as the bulls are failing to clear the resistance regardless of a substantial increase in the volume. One of the major reasons for the sluggish trend is the drop in spot trading activity. As per the recent update, Ethereum recently experienced a notable transformation, with over $750 million worth of ETH withdrawn from the major exchanges in just a week. 

This trend suggests that many investors are opting for long-term holding rather than selling their assets. Having said that, here’s what to expect from the ETH price for the rest of 2024.

The weekly chart of the ETH price suggests the token is consolidating heavily within a narrow range, along the support of the rising parallel channel. Besides, when the price appears to be heading towards the end of the consolidation, the Ichimoku cloud has flipped into a bearish trend. This may send bearish waves across the markets but the MACD suggests a drop in selling pressure. Moreover, the levels are heading towards a bullish crossover, hence suggesting an extension of a consolidated phase. 

The Ethereum price, which formed a new ATH along with Bitcoin in 2021 and also in early 2024, appears to have failed to gain the required momentum. However, the liquidity flow from Bitcoin usually flows into ETH and hence the token is believed to demonstrate huge moves only after the star crypto marks new highs.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

XRP Lawsuit End When? Expert Says SEC Dropped Appeal, 60-Day Delay Could Follow Ripple

It’s now been 20 days since Judge Analisa Torres denied both Ripple and the SEC’s…

June 5, 2025

XRP Price Prediction: Bearish Pattern, Bigger Picture and Key Levels Revealed

The price of XRP has been stuck in a tricky situation lately. While the long-term…

June 5, 2025

Dogecoin (DOGE) Price Analysis and Short-term Targets

The wider altcoin market, led by Dogecoin (DOGE), recorded a mild retrace in the last…

June 5, 2025

Coinbase to List PancakeSwap ($CAKE): Will This Trigger a Bullish Price Surge?

Coinbase Global Inc. (NASDAQ: COIN) announced plans to list PancakeSwap ($CAKE) in the near future.…

June 5, 2025

Treasure Global Announces $100M Digital Asset Treasury Strategy to Invest in Bitcoin and Ethereum

Treasure Global Inc. (NASDAQ: TGL), a United States-based tech company focused on developing consumer intelligence…

June 5, 2025

Bitcoin Breakthrough: JPMorgan to Offer Crypto Services Despite Jamie Dimon’s Past Criticism

JPMorgan Chase & Co. (NYSE: JPM), a top-tier financial institution with a sprawling global presence,…

June 5, 2025