CandleFocus Ethereum (ETH) $6,000 Price Goal Falls Off the Table
2024-10-18
Author: Content Editor
The prediction of Ethereum's price reaching $6,000 has been tempered as the cryptocurrency has struggled to keep pace with Bitcoin. The Pi Cycle Top indicator, which historically predicts peak prices, suggests that ETH may struggle to surpass $5,699 in the near term. Investor interest in Ethereum appears to be dwindling compared to Bitcoin, as evidenced by strong inflows into Bitcoin ETFs and a negative shift in the Coinbase Premium Index. Ethereum's price pattern resembles previous declines in May and November 2021, with the potential for a further decrease if the $2,455 support is not held. However, if interest in Ethereum increases, the price could potentially rise to $3,814 in the mid to long-term.
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