Ethereum Predicted to Reach $68,000 in 2024, Says Top Notch Analyst

In a recent set of tweets, renowned trader and technical analysis expert EliZ¥ (@eliz883) shared some sharp insights on the future of Ethereum (ETH), which currently holds the second spot in the cryptocurrency market by capitalization.

EliZ¥, who boasts an impressive following for his timely and accurate crypto predictions, made a bold forecast for Ethereum’s price in 2024. According to his technical analysis, he is “100% sure” that Ethereum will skyrocket to $68,000 by 2024. The current price of Ethereum hovers around $2,000, marking a potential growth of more than 3,000% if EliZ¥’s prediction comes to fruition.

As for the current moment, Ethereum is standing at a critical point, according to the famous Twitter analyst. He highlighted that Ethereum was trading at the same price it was exactly two years ago during the last bull market. EliZ¥ stressed the importance of the “red flip box,” a major support/resistance level for ETH. The expert noted a bearish trend on the 3-day chart but mentioned he is looking for a long position only if Ethereum breaches above $2,050.

Trade on US-Banned Exchanges With No KYC 🤫

Tired of missing hot new listings because your favorite exchange is banned in the US? 🇺🇸

With RocketXchange you can finally trade on Kucoin, ByBit and more without registration or KYC! 🙌

Simply connect your wallet to access every coin. No VPN needed.

Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.

Take your trading to the next level with:

  • Instant access to banned CEXs 🚫
  • No KYC required 🙅‍♂️
  • Trade on your terms – no registration required
  • Maintain full custody – tokens stay in your wallet
  • Access liquidity across leading DEXs and CEXs
  • Bridge assets quickly between any blockchain

Escape CEX limits today with RocketXchange!

Show more +

In addition to the price analysis, EliZ¥ also drew attention to Ethereum’s network health. The analyst pointed out that 20% of Ethereum’s total supply is now staked. This figure has almost tripled since the start of 2023, indicating significant investor confidence in Ethereum’s long-term potential.

The staking mechanism is a core feature of Ethereum 2.0, the network’s much-anticipated upgrade. By staking their coins, Ethereum holders contribute to the security of the network and earn rewards in return.

Ethereum’s future seems increasingly tied to the success of this upgrade, which aims to increase the network’s scalability and security while lowering its environmental impact. If successful, Ethereum 2.0 could potentially boost the demand for ETH and, consequently, its price.

While EliZ¥’s prediction might seem overly optimistic to some, it’s worth noting that the crypto market has a history of volatile swings and exponential growth. As always, investors should exercise caution and do their due diligence when investing in cryptocurrencies.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Tags:

Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

We will be happy to hear your thoughts

Leave a reply

CaptainAltcoin
Logo