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Analysts at the British multinational bank, Standard Chartered, expected that Ethereum (ETH) price It will likely rise to $10,000 in response to the expected political changes that are set to occur after the crisis The upcoming presidential elections in the United States (US)..
Standard Chartered Bank expects the price of Ethereum to reach $10,000
In a research note to the President Standard Chartered According to cryptocurrency researcher Jeffrey Kendrick, Ethereum could see a spike to $10,000 if… Donald TrumpThe former US president wins the upcoming elections.
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Delve into the potential The impact of the Trump administration On the future of the digital asset industry, Kendrick He predicts Both Ethereum and Solana (SOL) will significantly outperform Bitcoin (BTC), reaching all-time highs. The report assumes that changes in a country’s political system tend to be significant Influencing the trajectory of leading digital assets over time.
Based on this observation, Kendrick predicts Solana significantly outperforms Ethereum under the Trump regime. While Ethereum will see significant growth and possibly maintain its position as the top altcoin with the largest market cap, a Trump win could change the market dynamics, which could lead to higher gains and adoption for its rival Solana.
On a different level, if the current US Vice President Kamala Harris After winning the upcoming election, the Kendrick Report predicts that the price of Ethereum will rise to $7,000, which represents a 30% or $3,000 drop from the expected target of $10,000 under the Trump administration. However, under Harris’ leadership, Ethereum will consolidate its position as the leading altcoin, It will likely outperform Bitcoin And we solved the gains.
It is important to note that Standard Chartered Bank has cut its previous forecast for Ethereum by approximately 50%, underscoring the market’s volatility and unpredictability. in Previous reportthe multinational bank expects the price of Ethereum to reach $14,000 by 2025, driven by the approval of… Ethereum ETFs.
Although Spot Ethereum ETFs have received the aforementioned approval and are now trading, the price of Ethereum is still well below $3,000. However, the results US presidential elections Scheduled for November 5, it could have a more bullish impact on Ethereum, potentially leading to a massive rally to new highs.
ETH faces a drop to $1,600 if key support fails
While market experts provide optimistic forecasts for the price of Ethereum, prominent cryptocurrency analyst, Ali Martinez, took a more bearish stance, predicting a significant decline for this altcoin if it fails to maintain its price. Critical support level.
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In X (formerly Twitter) mail On Monday, Martinez revealed that if Ethereum can stay above the $2,300 support threshold, it will be possible. Price can breakout To all-time highs of $6,000. On the other hand, if the top altcoin fails to maintain this level, it could lead to a significant drop to the next support level at $1,600.
As of the time of writing, Ethereum price is trading at $2,432, and a drop to $1,600 would represent a massive 34.21% decline for the cryptocurrency.
Featured image created with Dall.E, chart from Tradingview.com