- Ethereum as a 'Contrarian Bet'
- ETH Price Predictions Until 2025
- Price Support Levels and Possible Risks
Since the beginning of 2024, Ether has struggled to maintain a consistent upward momentum. Is Ethereum poised to be an unexpected contender this year, or should we brace for further declines?
Ethereum as a 'Contrarian Bet'
According to Bitwise Asset Management’s chief investment officer, Matt Hougan, Ethereum could become an unexpected favorite by 2025. Hougan pointed out that ETH has been struggling, especially after hitting a 42-month low against Bitcoin on September 16. While he remains optimistic about Ethereum, he noted that price action may remain sluggish through the end of the year. Quote: {"quote":"From my seat, none of Ethereum’s challenges seem existential, and its opportunities are brimming. I suspect the market may reevaluate Ethereum as we get closer to the November elections and any regulatory clarity that emerges. For now, it looks like a potential contrarian bet through the end of the year.", "author": "Matt Hougan"}
ETH Price Predictions Until 2025
According to pseudonymous crypto trader GGG, Ether could see more downside in the shorter term. He noted in his post: ‘I think we are in a similar spot on $ETH as on the left box. Bear market rally then nuke lower is my guess for now.’ Meanwhile, the debut of the first Ethereum ETFs in July had little positive impact, with net negative flows and ETH price down nearly 30% since. Quote: {"quote":"ETH 2021 vs ETH 2024. Same triple bottom? Looks pretty similar so far.", "author": "Crypto Bullet"}
Price Support Levels and Possible Risks
On the 3-day chart, Ether’s price is retesting its 700-day accumulation range, which acts as significant support around $2,200, noted crypto trader Inmortal. Maintaining price above this level may be crucial for further upside. According to CoinGlass data, a potential Ether price decline below $2,200 would trigger over $1 billion worth of leveraged short liquidations across all exchanges.
To gain more upside momentum, Ether’s price needs to remain above key support levels. Analysts note that the further development will depend on the overall crypto market condition and Bitcoin's behavior in the coming months.
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