The best Ethereum price predictions as ETH rises 8% in the last 24 hours

TL;DR

Ethereum hit $2.8K for the first time in three months, with analysts predicting continued upward momentum. Key metrics, including MACD and moving averages, flash buy signals for ETH, but elevated RSI suggests a possible near-term correction. ETH finally joins the party

Ethereum (ETH) has lagged behind other leading cryptocurrencies in terms of gains in recent months. Bitcoin, for example, is up more than 20% in the past 90 days, while ETH is only up 8% in the same period.

However, the cryptocurrency saw a remarkable resurgence in the past 24 hours, with its price breaking above $2,800 for the first time since August. This led many analysts to speculate that it has finally entered a bullish mode that could take it to new highs in the foreseeable future.

ETH price, Source: CoinGecko

Popular X user Michael van de Poppe claimed that ETH has experienced a “massive bounce” and predicted that it could create a higher low and then “continue the upward momentum.”

Another individual who chimed in was user X Wolf. He believes the community is “not mentally prepared” for the bombshell that ETH could witness in the coming months. The analyst suggested that the price of the asset could explode to $8,000-$13,000 before the end of next year.

Ali Martinez also focused on Ethereum, setting a target of a new all-time high above $6,000. According to him, the represented brand could arrive in the first half of 2025.

What do the metrics suggest?

Many major indicators are currently showing buy signal for ETH. Examples include the MACD (moving average convergence divergence) level, the exponential moving average (on a 10-day scale), the simple moving average (10 days), the volume-weighted moving average, and the hull moving average.

On the contrary, there is a metric that indicates a possible correction. This is the relative strength index (RSI), which measures the speed and change of price movements. The momentum oscillator ranges from 0 to 100, with readings above 70 suggesting the asset is in overbought territory and could be headed for a pullback. Conversely, anything below 30 indicates a potential buying opportunity.

Currently, ETH’s RSI is sitting at almost 80.

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