{"id":473043,"date":"2024-01-18T10:17:32","date_gmt":"2024-01-18T10:17:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=473043"},"modified":"2024-01-18T10:17:32","modified_gmt":"2024-01-18T10:17:32","slug":"ethereum-price-prediction-qcp-capital-says-eth-to-outperform-bitcoin-on-etf-narrative-as-investors-flock-to-this-ai-platform-to-find-the-next-30x-crypto","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ethereum-price-prediction-qcp-capital-says-eth-to-outperform-bitcoin-on-etf-narrative-as-investors-flock-to-this-ai-platform-to-find-the-next-30x-crypto","title":{"rendered":"Ethereum Price Prediction: QCP Capital Says ETH To Outperform Bitcoin On ETF Narrative As Investors Flock To This AI Platform To Find The Next 30X Crypto"},"content":{"rendered":"

The Ethereum price <\/span>dropped<\/span><\/a> more than 1% over the past 24 hours to trade at $4,528.33 as of 10:50 pm EST.<\/span><\/p>\n

But QCP Capital see better times ahead. <\/span>“We expect Ether to continue outperforming Bitcoin over the medium term as the narrative rotates to potential ETH spot ETF approvals,” it said in its latest Market Update<\/a> report. <\/span><\/p>\n

QCP Capital supported its prediction by highlighting that the ETH\/BTC exchange rate has risen from 0.05 to 0.06 in the past week, and added that spot ETH ETFs could be approved “from May.”<\/span><\/p>\n

Talk about the possibility of regulatory approval for spot ETH ETFs gained momentum following comments from BlackRock CEO Larry Fink in an interview with <\/span>CNBC<\/span><\/a> last week. <\/span><\/p>\n

“I see value in having an Ethereum ETF,” he said. “As I mentioned, these are just stepping stones towards tokenization.”<\/span><\/p>\n

The Ethereum Price Falls Out Of Positive Channel<\/span><\/h2>\n

\"TradingView<\/p>\n

4-hour chart for ETH\/USDT (Source: <\/span>TradingView<\/span><\/a>)<\/span><\/p>\n

The <\/span>Ethereum<\/span><\/a> price broke below a positive price channel that had formed on its charts in the last 2 weeks, and continues to trade outside of this channel. As a result, the leading altcoin is exposed to the risk of potentially falling to $2,440 in the next 24 hours. Continued sell pressure could then pull the Ethereum price to as low as $2,295 in the short term.<\/span><\/p>\n

This bearish thesis may be invalidated if <\/span>ETH<\/span><\/a> is able to close a 4-hour candle within the positive price channel in the next 12 hours. The Ethereum price may then begin to climb to the $2,685 resistance level. Bulls may then choose to boost the crypto’s price above this threshold, which will give it the foundation needed to potentially rise to $2,840 in the following few days.<\/span><\/p>\n

ETH Is Still At The Mercy Of Sellers<\/span><\/h2>\n

ETH may not rise in the upcoming hours as technical indicators on its 4-hour chart support a short-term bearish outlook. The Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest that bulls are currently overpowered by bears.<\/span><\/p>\n

In the last 24 hours, the MACD line crossed below the MACD Signal line. This is a major bearish technical flag, and signals a continuation of <\/span>ETH’s<\/span><\/a> negative trend. The slope of the MACD Histogram is also negative, which is a sign that the altcoin’s bearish momentum shows no signs of slowing down yet.<\/span><\/p>\n

In addition to this, the RSI line broke below its Simple Moving Average (SMA) line during the last day of trading. Traders generally identify this as a signal that sellers have gained an advantage against buyers. As a result, it may be easier for bears to drag the Ethereum price down in the next 24 hours than it will be for bulls to elevate it during the same period.<\/span><\/p>\n

With the Ethereum price at risk of dropping lower in the short term, investors may want to make use of <\/span>Launchpad XYZ<\/span><\/a> to manage their ETH trading positions.<\/span><\/p>\n

Boosting Trade Performance Through AI<\/span><\/h2>\n
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Join the revolution! 🔥#Web3<\/a> #Crypto<\/a> #AI<\/a> #Blockchain<\/a> pic.twitter.com\/sYKgswo0YH<\/a><\/p>\n

— Launchpad.xyz (@launchpadlpx) January 17, 2024<\/a><\/p><\/blockquote>\n