Prominent cryptocurrency analyst Dmitry Noskov of European trading platform StormGain recently shed light on his Ethereum (ETH) predictions and revealed where the digital asset should be by the end of the year.
Dmitry Noskov on Ethereum (ETH) price movement
The crypto analysts’ predictions were driven by the current growth of the cryptocurrency market due to the upcoming Bitcoin halving in 2024. He highlighted that the market growth will continue to grow until the end of the year, and Ethereum is expected to grow with it.
“We can say that the cryptocurrency market is now on a wave of growth, which could continue until the end of the year. The target for Ethereum before the new year could be between $1,800 and $1,900. It could also surpass the psychological level of $2,000,” Noskov said.
Dmitry’s recent ETH predictions can also be attributed to the excitement and hype in the cryptocurrency community and the positive development encompassing a possible approval of the Spot Bitcoin exchange-traded fund (ETF).
“Positive developments around the possible approval of a Bitcoin (BTC) exchange-traded fund (ETF) have boosted other cryptocurrencies, including ETH,” Noskov said.
Dmitry Noskov is not the only one who has shared projections for the price of Ethereum until 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, financial platform Finder approached 32 fintech and cryptocurrency analysts to offer their price predictions for Ethereum at the end of the year. From the details shared with Finbold, experts believe that the digital asset will end the year at $2,451, showing a price increase of over 30% over the current Ethereum price.
Future predictions for Ethereum were much more promising. Specifically, experts predict that ETH will reach $5,845 by the end of 2025.
One of the finance experts, Mitesh Shah, CEO and founder of Omnia, gave his year-end predictions for Ethereum, which seemed to be in line with the panel’s consensus projections. Shah also believes that the digital asset is the second exceptional investment option for institutional and ordinary investors.
“Ethereum remains the leading second-choice investment for both retail and institutional investors. After the successful proof-of-stake upgrade, similar to “changing the engine of a jet plane mid-flight,” ETH has become more efficient and deflationary, to name a few,” Shah said.
Lately, the cryptocurrency has been gaining momentum, slowly approaching the $1,850 resistance level. The digital asset is expected to rise if it breaks the $1,850 resistance level. Ethereum is currently at approximately $1,797 at the time of writing.