Research and analytics company Fundstrat stubbornly believes that the Ethereum price will rise to $5500 by 2025.
On October 7th, the price of ETH plummeted, falling more than 10%. The coin is currently valued at $4337, and Fundstrat managing director Mark Newton believes that kriptovalyuta The price will fall even further, reaching the support barrier at $4200. The asset’s price will then bounce off the barrier and rise until it reaches a new all-time high of $5500.
Ethereum price direction according to Newton’s forecast
«I’m not concerned about the cryptocurrency weakness we’ve seen over the past few days. I expect Ethereum to bottom out within a day or two before resuming its upward trend,» Mark noted.
However, analyst Benjamin Cowen is more skeptical. He believes the correction in the ETH market will drag on for several weeks. However, he also predicts an inevitable start to a bullish trend and a renewed peak amid favorable macroeconomic factors and economic problems in the US.
Ethereum’s upcoming price surge will be driven by constructive technical design and the expectation of increased liquidity due to the US federal government’s easing monetary policy, Cowen concluded.