Prominent cryptocurrency analyst Dmitry Noskov from the European-based trading platform StormGain has recently shed light on his predictions concerning Ethereum (ETH) and has revealed where the digital asset ought to be by the end of the year.
Dmitry Noskov On Ethereum (ETH) Price Movement
The crypto analyst predictions were fueled by the current growth of the cryptocurrency market due to the forthcoming Bitcoin halving in 2024. He highlighted that the market growth will continue to grow till the end of the year, and Ethereum is set to grow with it.
“We can say that the cryptocurrency market is now on a wave of growth, which may continue until the end of the year. The target for Ethereum before the new year may be $1800-$1900. It can also break the psychological level of $2,000,” Noskov stated.
Dmitry’s recent ETH predictions can also be traced back to the excitement and propaganda from the cryptocurrency community and the positive development encompassing a potential approval of Spot Bitcoin exchange-traded fund (ETF).
“The positive developments around the potential approval of a Bitcoin (BTC) spot exchange-traded fund (ETF) have boosted other cryptocurrencies, including ETH,” Noskov stated.
Dmitry Noskov is not the only one who has shared projections on the price of Ethereum by the end of the year. Several other analysts have also shed light on their optimism about how Ethereum is expected to finish the year.
In July, finance platform Finder sought 32 fintech and cryptocurrency analysts for them to offer their year-end price predictions for Ethereum. From the details shared with Finbold, the experts believe that the digital asset will finish the year at $2,451, presenting over 30% price surge from the current price of Ethereum.
The future predictions for Ethereum were much more promising. Specifically, the experts predict that ETH will reach $5,845 by the end of 2025.
One of the finance experts Mitesh Shah, Chief Executive Officer and founder of Omnia gave his end-of-year predictions for Ethereum, which appeared to be in check with the panel’s consensus projections. Shah also believes that the digital asset is the exceptional second choice of investment for institutional and ordinary investors alike.
“Ethereum remains the standout second choice investment for both the retail and institutional investors alike. Following the successful upgrade to proof of stake, akin to “changing a jet plane engine, mid-flight,” ETH has become more efficient and deflationary, to mention a few,” Shah stated.
Lately, the cryptocurrency has garnered momentum, slowly heading toward the $1850 resistance level. The digital asset is set to go higher if it crosses the $1850 resistance level. Ethereum is currently sitting at approximately $1797 as of the time of writing.
Featured image from Seeklogo, chart by Tradingview.com