Analysts published a forecast of the Ethereum cryptocurrency value at the end of 2024

According to the Ethereum Rainbow Chart, the price of Ethereum could rise significantly by the end of 2024, depending on market conditions and investor sentiment. ETH is currently in the Steady zone, which indicates neutral market sentiment.

The Rainbow Chart uses a logarithmic growth curve to show investor sentiment at different price levels. If ETH falls below $ 1037 by the end of December, it could indicate the end of the current bull market and the approach of a crypto winter.

On the other hand, trading above $ 8,930.22 would mean that Ethereum is entering a bubble zone, with a steady rise above $ 12,791 almost guaranteed to lead to a major correction.

The forecast shows that the most stable price for Ethereum by the end of 2024 will be between $.915 and $ 4210, which is called the «HODL» zone. A price in the range of $ 4210 — $ 6124 is also considered relatively stable, but investors should be careful.

The best time to buy Ethereum, according to analysts, will be if the price is in the range of $ 1442 — $ 2039, which is designated as the «Accumulate» zone. Prices as low as $ 2915 are also considered relatively cheap.

Currently, ETH is up 32.34% since the beginning of the year, despite short-term fluctuations. Up-to-date Ethereum Rainbow Chart data helps investors navigate difficult market conditions and make informed decisions about buying or selling cryptocurrencies.