Analysts of the British international bank Standard Chartered predicted that Ethereum (ETH) price could potentially raise to $10,000 in response to anticipated policy changes expected to occur after: upcoming presidential elections in the United States (USA)..

Standard Chartered predicts Ethereum will reach $10,000

In the manager’s research note Standard charter cryptocurrency research, Geoffrey Kendrick, Ethereum could experience a dramatic surge to $10,000 if Donald Trumpformer US president will win the upcoming elections.

Delving into potential influence of the Trump administration on the future of the digital asset industry, Kendrick predicts that both Ethereum and Solana (SOL) will significantly outperform Bitcoin (BTC) to fresh all-time highs. The report shows that changes in a country’s political regime usually have a significant impact impact on the trajectory of leading digital assets overtime.

Based on this observation, Kendrick expects Solana far outperforms Ethereum under Trump. While Ethereum will see significant growth and likely maintain its position as the top altcoin with the largest market capitalization, a Trump victory could change market dynamics, potentially driving even greater gains and adoption for its competitor, Solana.

On the other hand, if current US Vice President Kamala Harris wins the upcoming election, Kendrick’s report predicts Ethereum could surge to $7,000, down 30% or $3,000 from its projected target of $10,000 under Trump. However, under Harris’ leadership, Ethereum will strengthen its position as the leading altcoin, potentially surpassing Bitcoin and Solana in profits.

It should be noted that Standard Chartered lowered its previous forecast for Ethereum by almost 50%, highlighting the market’s volatility and unpredictability. In earlier reportinternational bank predicted that Ethereum could reach $14,000 by 2025, thanks to approval by Spot Ethereum ETFs.

Although Spot Ethereum ETFs have received said approval and are currently trading, Ethereum’s price remains well below $3,000. Results nonetheless US presidential elections scheduled for November 5, could have a more bullish impact on Ethereum, potentially triggering a massive rally towards fresh highs.

ETH will fall to $1,600 if key support fails

While market experts offer sanguine Ethereum price predictions, prominent cryptocurrency analyst Ali Martinez has taken a more bearish stance, predicting a significant drop in the altcoin’s price if it fails to maintain key level of support.

WX (formerly Twitter) post on Monday, Martinez revealed that if Ethereum can stay above the $2,300 support threshold, then the price may rise to fresh all-time highs of $6,000. On the other hand, if the top altcoin fails to maintain this level, it could result in a massive drop to the next support at $1,600.

At the time of writing, Ethereum is trading at $2,432 and a drop to $1,600 would see the cryptocurrency drop a massive 34.21%.

Featured image created with Dall.E, chart from Tradingview.com