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On October 18, COINOTAG reported insights from Cointelegraph regarding Ethereum’s market trajectory. Analysts are anticipating a rebound above the significant $3,000 psychological threshold, yet some caution that further decline might occur prior to any breakout. Technical analyst Mikybull noted that the reverse “head and shoulders” pattern on Ethereum’s daily chart suggests a target price of $3,000, a classic indicator of a bullish reversal following a bearish trend.
Other industry experts forecast that Ethereum may achieve a new all-time high in early 2025. Crypto trader Daink provided a bullish perspective, projecting Ethereum’s value could hit $4,000 before year-end, stating that while a peak might be on the horizon, the immediate target is $4,000.
However, not all analysts share this optimism. Justin Bennet indicated potential bearish signals, mentioning that the one-hour chart may suggest a pullback to around $2,400, with possible support at $2,485 if key levels breach. Additionally, Ethereum’s current relative strength index (RSI) of 59 hints at a possible price retracement, reflecting a careful analysis that tracks momentum shifts in the cryptocurrency market.
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