As the Bitcoin price sustains above $43,000, the Ethereum price is also on the verge of marking new yearly highs close to $2400.

The rise in the volume of non-exchange addresses, which has hit an ATH of 54.6 million compared to the 150 biggest exchange addresses, marking a 5-year low at 9.3 million, suggests the whales are probably losing sell-off power. As retail traders are getting stronger with this move, a fine rise in the price is expected in the coming days. A popular analyst, Michael van de Poppe, believes that the ETH price could soar and reach $3000 somewhere in Q1 of 2024.

Ethereum starts to rally against $BTC.In the period prior to the Bitcoin halving, 3-8 months before, it's the best period to allocate towards altcoins.Right now, we might be seeing the exact same on $ETH, which means that Ethereum is ready for $3,000+ in Q1.

Collectively, Ethereum’s price has displayed extreme bullish momentum since the start of the month, and hence, a bullish close for the year could be on the horizon. Meanwhile, market sentiments have also turned bullish, substantiating the bullish claim and supporting the price target above $3000 in the first few weeks of 2024.

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