On-chain data and several crypto analysts suggest that Ethereum price could target the $5,400 level at some point in 2024.
Ether (ETH) price could reach the $5,400 mark in 2024, according to a technical price indicator used by traders to assess whether a cryptocurrency is overbought or oversold.
Ether could surpass $5,400 in the high-risk scenario based on the Mayer multiple oscillator, which is a ratio based on comparing Ether’s current price with its 200-day moving average (MA). The analysis was shared by CryptoQuant-verified author binhdangg, in a March 21 X post.
Ether price could reach the upper band of the indicator, but that could be much higher than $5,400, Bitfinex analysts told Cointelegraph:
