CandleFocus AI predicts Ethereum price for year-end
2024-10-31
Author: Content Editor
Despite criticism for underperforming compared to its competitors, Ethereum is forecasted to end the year on a bullish note, reaching a potential high of $4,000 according to an AI tool. Factors such as an improved regulatory environment and network upgrades support this potential momentum. However, if Ethereum faces challenges like inflationary pressure, regulatory crackdowns, and increased competition, it could drop into the $1,800-$2,200 range. Ethereum's co-founder, Vitalik Buterin, hinted at elements that could be bullish for its future, focusing on bringing the Ethereum Virtual Machine to a stable state. Ethereum's price remains well-positioned above its moving averages, and for sustained upward movement, it needs to hold above $2,500 for a target towards $3,000.
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