Ethereum (ETH) Price to Reach $10,000 by the End of 2024? Analyst Weighs In

Declining MVRV ratio, negative exchange netflow, and potential approval of a spot Ethereum ETF in the US could drive ETH’s value higher.The cryptocurrency market has experienced a significant uptrend in the past few days, with numerous digital assets rising to multi-week highs. Although not witnessing such a substantial increase, Ethereum is also among the notable gainers.

Its price surpassed the $3,000 mark, representing a 4% increase on a daily scale. Numerous analysts believe this could be the starting point of a bull run that can take place in the near future.recently that ETH is on its way to reaching a higher timeframe support level. “The good times are there in a few weeks’ time,” he assumed.that ETH has started breaking the “falling wedge consolidation” on a 12-hour timeframe.

Another factor is ETH’s exchange netflow, which has been predominantly negative in the past month .Last but not least, ETH’s price may head north in case of the approval of a spot Ethereum ETF in the United States.

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