Dmitry Noskov, a renowned cryptocurrency analyst from the Europe-based trading platform StormGain, has recently shed light on his predictions for Ethereum (ETH) and revealed where the digital asset should be by the end of the year.
Noskov’s predictions were fueled by the current growth of the cryptocurrency market due to the upcoming Bitcoin halving in 2024. He emphasized that market growth will continue to increase by the end of the year, and Ethereum is expected to grow alongside it.
“We can say that the cryptocurrency market is currently riding a wave of growth that could continue until the end of the year. The target for Ethereum before the new year could be between $1800 and $1900. It may also break the psychological barrier of $2000,” said Noskov.
Noskov’s recent Ethereum forecasts can also be attributed to the excitement and propaganda within the cryptocurrency community and the associated positive developments, such as the possible approval of a Spot Bitcoin Exchange Traded Fund (ETF).
“The positive developments surrounding the potential approval of a Bitcoin Spot Exchange Traded Fund (ETF) have fueled the rise of other cryptocurrencies, including ETH,” explained Noskov.
Dmitry Noskov is not the only one to share his price predictions for Ethereum by the end of the year. Several other analysts have also expressed their optimism about how Ethereum is expected to end the year.
In July, financial platform Finder surveyed 32 fintech and cryptocurrency analysts to provide their end-of-year price predictions for Ethereum. According to details shared with Finbold, the experts expect the digital asset to finish the year at $2451, representing a price increase of over 30% compared to the current price of Ethereum.
The future forecasts for Ethereum are even more promising. Specifically, the experts predict that ETH will reach $5845 by the end of 2025.
One of the financial experts, Mitesh Shah, Chief Executive Officer and Founder of Omnia, provided his end-of-year predictions for Ethereum, which seemed to be in line with the consensus forecasts of the panel. Shah is also convinced that the digital asset is the outstanding second choice for both institutional and retail investors.
Ethereum is currently trading at $1797 in the daily chart. It has recently gained momentum and is slowly approaching the resistance mark of $1850. The digital asset is expected to rise once it surpasses the $1850 resistance mark.
Overall, the predictions for Ethereum’s price movement by the end of the year are optimistic, with the cryptocurrency expected to experience significant growth. As the market continues to evolve and developments such as the Bitcoin halving and potential ETF approval unfold, Ethereum’s value and market position will be closely watched by investors and analysts alike.
[Image Source: Seeklogo, Chart from Tradingview.com]
