---
title: "Ethereum (ETH) Price to Reach $10,000 by the End of 2024? Analyst Weighs In"
url: https://diffcoin.com/ethereum-eth-price-to-reach-10000-by-the-end-of-2024-analyst-weighs-in/
description: "$4,500 or a new ATH of $10,000: what does the future hold for ETH?"
published: 2024-05-16
updated: 2024-05-16
author: "Mila"
site: "Diffcoin"
---

# Ethereum (ETH) Price to Reach $10,000 by the End of 2024? Analyst Weighs In

**TL;DR**

- Ethereum’s price recently surpassed $3,000, with analysts predicting further significant gains.
- Declining MVRV ratio, negative exchange netflow, and potential approval of a spot Ethereum ETF in the US could drive ETH’s value higher.

## Is ETH Gearing up for an ATH?

The cryptocurrency market has experienced a significant uptrend in the past few days, with numerous digital assets rising to multi-week highs. Although not witnessing such a substantial increase, Ethereum (ETH) is also among the notable gainers.

Its price surpassed the $3,000 mark, representing a 4% increase on a daily scale. Numerous analysts believe this could be the starting point of a bull run that can take place in the near future.

The X user Michael van de Poppe is among the optimists. He [claimed](https://twitter.com/CryptoMichNL/status/1790629434707284219) recently that ETH is on its way to reaching a higher timeframe support level. “The good times are there in a few weeks’ time,” he assumed.

CryptoYoddha was even more bullish, [envisioning](https://twitter.com/CryptoYoddha/status/1790111597559492645) a price explosion toward the $10,000 milestone by the end of the year.

Last but not least, World of Charts [argued](https://twitter.com/WorldOfCharts1/status/1790900118876533182) that ETH has started breaking the “falling wedge consolidation” on a 12-hour timeframe. “Trend is already up and expecting continuation towards $4500 in coming weeks,” the analyst forecasted.

## Observing Some Important Factors

One element signaling that ETH’s value could be on the verge of a rally is the Market Value to Realized Value (MVRV). It helps to identify if the asset is overvalued or undervalued. A high ratio suggests a market top, while a low one may indicate a good buying opportunity. The MVRV has been on a significant downfall since mid-March.

Another factor is ETH’s exchange netflow, which has been predominantly negative in the past month (according to CryptoQuant’s data). Shifting from centralized platforms towards self-custody methods is considered bullish since it reduces the immediate selling pressure.

Last but not least, ETH’s price may head north in case of the approval of a spot Ethereum ETF in the United States. However, such a green light may also lead to the same immediate “sell-the-news” event witnessed after the BTC ETF approvals in January.

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