Is Ethereum (ETH) on the Verge of a “Big Breakout”? (Analysts Weigh In)

Summary

• ethereum (eth) fell below $2,400 but could stage a rebound, with predictions ranging from a short-term surge of $3,000 to a new high of $6,000 sometime in 2025.
• Metrics such as Net Exchange Flow and RSI point to lower selling pressure and potential buying opportunities for the asset.

What could be next?

Despite failing to reach a new all-time high, ethereum (eth) had a positive start to 2024, with a price surpassing $4,000 in mid-March. However, it experienced increased volatility in the following months, eventually settling at the current $2,400 (according to CoinGecko data), representing a 5% drop on a weekly basis.

The asset has been the subject of numerous price predictions recently, with some industry participants predicting a bullish move in the near future. The Cryptomist (an x user with over 130,000 followers) x.com/Thecryptomist/status/1831180755902283954″ target=”_blank” rel=”noopener” data-wpel-link=”external”>reclaimed that eth could drop to $2,330 before heading towards a “big breakout” towards $3,000. Recall that the price fell below that level earlier today (September 4), hitting a local low of around $2,318.

x user Yoddha also x.com/CryptoYoddha/status/1831261004698894766″ target=”_blank” rel=”noopener” data-wpel-link=”external”>imagined Good days are ahead for the bulls, arguing that “eth is cooking up something big right now.” The analyst believes that the token’s price has fallen into a “strong demand” zone, which could be crucial for a potential incoming bounce.

Mags was even more optimistic, x.com/thescalpingpro/status/1830870847571030472″ target=”_blank” rel=”noopener” data-wpel-link=”external”>seer eth will jump to a new ATH of almost $6,000 in 2025. In his opinion, the prediction could come true if the price stays above a major ascending/sloping trend line or, in other words, does not fall below $2,300.

What do the metrics suggest?

ethereum Exchange network flow It also indicates that the token's valuation could rise soon. Over the past month, outflows have predominantly occurred eth/chart/exchange-flows/exchange-netflow-total?exchange=all_exchange&window=DAY&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=column” target=”_blank” rel=”noopener” data-wpel-link=”external”>surpassed tickets, with two important Red candles observed towards the end of August.

This It signals a shift away from centralized exchanges towards self-custody methods and could be seen as a bullish signal as it reduces immediate selling pressure.

The next indicator we will look at is the Relative Strength Index (RSI). It is a momentum oscillator used to measure the magnitude of recent price changes to assess overbought or oversold conditions. The RSI ranges from 0 to 100, with readings below 30 suggesting that the asset could be oversold and a potential buying opportunity.

The ratio fell below that area in late August and is currently eth” target=”_blank” rel=”noopener” data-wpel-link=”external”>standing around 36.

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