While the majority of the cryptocurrency market exhibits upward momentum, Ethereum (ETH) leads the way among rising assets. Additionally, artificial intelligence (AI) platforms predict further upside and progress for the largest altcoin by market cap in 2024.
In fact, ETH is up almost 10% in the last 24 hours after falling over 11% on the weekly chart. Advanced artificial intelligence prediction algorithms predict that Ethereum will recover further by the end of this year.
What Awaits the Ethereum Price in 2024
Specifically, one of these AI algorithms, based on historical ETH trends, technical analysis (TA) indicators, chart patterns, and related developments, predicts that Ethereum will reach a price of $4,778.17 by December 31, 2024, an increase of 35.09% from its current values. he pointed out.
Meanwhile, machine learning prediction platform CoinPriceForecast pegs the ETH price at $6,770 (+91%) by the end of 2024. The Ethereum price prediction expects it to reach $8,308 by mid-year 2025 and end the year at a slightly lower $7,479.
Elsewhere, the fourth iteration of OpenAI invention ChatGPT, called GPT-4, has set Ethereum price forecast 2024 targets at $3,500 to $4,000, possibly “possible if the market experiences increased bullish sentiment and positive regulatory developments.”
“Spot Ethereum [borsa yatırım fonunun (ETF)] Its potential approval could play a significant role in ETH reaching and possibly surpassing the $4,000 milestone.” he stated.
Meanwhile, the latest Anthropic AI model Claude 3 Opus offered a conservative forecast that sees the price of Ethereum between $3,800 and $4,200, and an optimistic forecast at a price range of $4,500 to $5,000 or perhaps even higher.
Currently, ETH is trading at $3,537.21. There was an increase of 9.47% in the last 24 hours. An accumulated loss of 11.16% was observed in the previous seven days. According to the latest data on March 21, a gain of 21.93% was achieved on the monthly chart.
Why is ETH Price Rising?
So why is Ethereum rising? The latest price increase coincides with Solana (SOL) co-founder Anatoly Yakovenko expressing his support for Ethereum at a time when the SEC is intensifying its investigations into the classification of ETH came.
If the state is against ethereum then I am against the state
— toly 🇺🇸 (@aeyakovenko) March 21, 2024
Additionally, ETH may still be feeling the positive impact of the recent Dencun upgrade, which went live on March 13. This update aimed to improve Ethereum’s performance. This has caused increasing optimism within the Ethereum community.
Additionally, analyst CryptoJelleNL recently predicted that Ethereum will remain the second-largest asset as long as it maintains a critical area above $3,500. crypto- It is worth noting that he emphasized that the asset has the potential to rise to $5,000 “soon enough.” As the analyst explained in an X post on March 21, such commentary could increase investors’ and traders’ confidence in Ethereum, thereby supporting the price.
All things considered, Ethereum may indeed continue to increase its price as AI platforms predict. But things in this industry can sometimes change on a whim. Therefore, doing one’s own research and following Ethereum news is critical before investing a significant amount of money.
