Cryptocurrency experts predict Ethereum growth to $ 3000

QCP Capital analysts predict a possible jump in the price of Ethereum ETH $2,897.52 Bridged Ether (StarkGate) 7.66% Market capitalization $0.24 billion VOL. 24 hours $2.13 billion to $ 3000. According to the results of the week of October 14−20, the value of Ethereum increased by 11%, which exceeds the growth rate of Bitcoin BTC $75,877.97 Bitcoin -0.04% Market capitalization $1.5 trillion VOL. 24 hours $3.38 billion by 9.6%. However, in general, within a month, the leading altcoin shows slightly lower results, gaining 4% against 8% for bitcoin.

According to experts, Ethereum has a high chance of overcoming resistance at $ 2800 and reaching $ 3000. For bitcoin, this scenario involves breaking through the $ 70,000 mark, which may attract increased attention from retail investors and, as a result, trigger further growth.

One of the factors that could affect this development is the upcoming US presidential election, which is two weeks away. Market participants also note the confidence of the stock market and the excessive number of purchases in the options market. These conditions may contribute to the continuation of the cryptocurrency rally in the absence of serious negative factors.

Analysts expect prices to consolidate at current levels with possible attempts at further growth. An important point will be the publication of the index of business activity in the US manufacturing sector on October 24, where the market will be looking for signals of the Federal Reserve’s readiness to cut rates.