Published: 2024-08-23
Status:
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Ethereum's price peak in March 2024 is contended to be the highest price for ETHUSD for the remainder of 2024.
"And I would contend it could easily be the top for the rest of the year."
Pending
Ethereum is predicted to drop to approximately $1,500 (60% from weekly close top) or as low as $1,200 (70% from wick top) in 2024, following historical patterns.
"But a 60% drop would actually take it down to around 1,500. If it dropped, say 70% from the wick... a 70% drop gets you all the way down to around $1,200."
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The predicted significant drop for ETHUSD is expected between late September and November 2024, based on 2016 and 2019 market cycles.
"if actually it follows 2016 and 2019, it won't happen until late September into October, November time frame."
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Ethereum is predicted to experience a price decline during October, November, and December 2024.
"But I'm suggesting that there still would be a scenario where it then goes down October, November, December."
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Ethereum is predicted to end 2024 at the lower logarithmic regression trend line, following historical patterns from 2016 and 2019.
"They both ended the year with ETH at the lower logarithmic regression trend line. That's where they ended the year."
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Ethereum is predicted not to reach new all-time highs until 2025, specifically suggesting a full year wait after the March 2024 rally.
"it's possible that ETH does go to new all-time highs, but it might not happen until next year. In fact... you have to wait a full year after that March 2024 rally before you actually see another high."
Pending
Ethereum is predicted to rally towards the bull market support band (around $3,000 to $3,200) by mid-September 2024, but will likely be rejected at or below $3,000 this year, then sell off into year-end, followed by a significant bounce in 2025.
"my guess is that if ETH were to get a rally, I would guess that it wouldn't go much higher than 3K. I would guess it would get rejected by the bull market support band this year and go above the bull market sport band again next year."
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The ETH/BTC ratio is predicted to find its bottom at or above 0.04 by the end of December 2024, with a possibility of going lower than 0.04 before that time, but unlikely to go lower if it doesn't by year-end.
"if it doesn't go below 004 before the end of the year, then that's my my guess is that's the bottom. I still think there's a good case that it could go lower than 004. And but if again, if it doesn't happen by the end of December, then it's probably not going to happen."
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The predicted price bounce for Ethereum in 2025 will be more impressive if its price drops lower by the end of 2024.
"So the lower it goes, the more impressive the 2025 bounce is what I would say."
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The author's Q4 2024 Ethereum price prediction will be invalidated if ETH aggressively rallies in October 2024; it will be supported if ETH fades after the September 2024 Fed rate cut.
"If ETH continues to aggressively go up in October, then I think my view would be wrong. And if it fades after the rate cut arrives, then I think there's more evidence to suggest that my view could be correct."
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The Federal Reserve is predicted to cut interest rates by at least 25 basis points at their September 18th, 2024 meeting.
"Well, the next Fed meeting, September 18th, and they're likely going to cut interest rates by at least 25 basis points. My guess is they're going to cut 25 basis points."
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