Ethereum Price Prediction: Could $ETH Hit $10,000 in 2024?Despite recent fluctuations, it has not yet hit a new all-time high in terms of price or market cap.

In early August, Ethereum, along with the wider crypto market, saw a significant downturn, driven by fears of a potential U.S. recession and escalating global geopolitical tensions. Its price fell from just below $3,500 to approximately $2,400 at the time of writing.

Currently, Ethereum is in bearish territory, trading beneath both the short-term 50-day simple moving average (SMA) at $2,662 and the long-term 200-day SMA at $3,148, suggesting the possibility of further selling pressure.

In the last 30 days, Ethereum’s price has declined by 6.52%, while its 24-hour trading volume has decreased by 44%, now standing at $7.1 billion. This article delves into Ethereum’s price prediction, analyzing whether $ETH could potentially reach $10,000 in 2024.