Ethereum Price Prediction: QCP Capital says ETH will surpass Bitcoin in ETF narrative as investors flock to this AI platform to find the next 30X cryptocurrency.

Ethereum price fell It is up more than 1% in the last 24 hours, trading at $4,528.33 as of 10:50 PM ET.

But QCP Capital sees better times ahead. “We expect Ethereum to continue to outperform Bitcoin in the medium term as we return to the approval of a potential ETH spot ETF,” he said in his latest market update report.

QCP Capital backed up its predictions by highlighting that the ETH/BTC exchange rate rose from 0.05 to 0.06 last week, adding that a spot ETH ETF could be approved ‘starting in May’.

Discussions about possible regulatory approval for a spot ETH ETF gained momentum following an interview with BlackRock CEO Larry Fink. CNBC last week.

“I see value in holding an Ethereum ETF,” he said. “As I said, this is just a stepping stone towards tokenization.”

Ethereum price has broken out of the positive channel.

ETH/USDT 4-hour chart (Source: TradingView)

that much Ethereum The price has fallen below the positive price channel that has formed on the chart over the past two weeks and continues to trade outside of this channel. As a result, the leading altcoin is exposed to the risk of a possible decline to $2,440 in the next 24 hours. Continued selling pressure could push Ethereum price as low as $2,295 in the near term.

This bearish thesis may be invalidated if: ETH You can close the 4-hour candle within the positive price channel within the next 12 hours. Afterwards, the Ethereum price may begin to rise towards the $2,685 resistance level. Bulls could choose to push the price of the cryptocurrency above this threshold, which would provide the foundation needed for a potential rally to $2,840 in the coming days.

ETH is still at the mercy of sellers

ETH may not rise in the coming hours as technical indicators on the 4-hour chart support a near-term bearish outlook. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) suggest that the bulls are currently outperforming the bears.

In the last 24 hours, the MACD line has crossed below the MACD signal line. This is a major bearish technical signal, and one that continues. ETH Negative trend. The slope of the MACD histogram is also negative, which signals that the altcoin’s bearish momentum shows no signs of slowing down yet.

Moreover, the RSI line broke below the simple moving average (SMA) line on the last day of trading. Traders typically identify this as a sign that sellers have gained an advantage over buyers. As a result, it may be easier for bears to drive the Ethereum price lower over the next 24 hours than for bulls to push higher over the same period.

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