Ethereum Price Prediction: ETH Poised for 50% Climb?

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The Ethereum marketplace situation is uncertain as the token trades between bullish and bearish lines. Investors may be concerned with ETH dips at some point.

Notably, Ethereum is still far from its highs of mid-July, where it traded within the $2,000 mark. But according to its price action, there’s progress in the recovery battle. Hence, à possible 50% climb could be expected in the short or long term.

ETH Price Action

Today, Ethereum’s price has mostly stayed the same. As of 7:26 am EST, it’s at $1,846, representing a drop of 0.1% on the last day. Over the past week, Ethereum’s price has increased by 1%. However, it’s down by 5% in the previous month.

Even though the market has disappointed recently, Ethereum has stayed above the $1,800 support level. This suggests that it won’t drop significantly more from here. Meanwhile, the daily chart reveals more information on the asset’s potential move.

ETH/USD Daily Chart

Ethereum’s recent performance remains uncertain and inconsistent. The altcoin has not experienced significant declines in the past few weeks but has not shown substantial signs of a strong recovery.

According to the chart, ETH/USDT pair is trading above its 200-Day Simple Moving Average (SMA), indicating a relatively positive trend.

As it approaches the 50-day SMA, a potential short-term uptrend might be on the horizon. The crossover of these two SMAs could signal increased bullish momentum, potentially driving the price higher.

Traders and investors are likely monitoring this development closely, seeking confirmation of a sustained upward movement. A break out of the 50-Day SMA, the ETH/USDT market may target the potential resistance level at $2,139.75.

However, if the bulls fail to sustain the momentum and the price drop below the SMA indicator, the market will likely target the $1,636 support zone. The Moving Average Convergence Divergence positioned above the signal line suggests a bullish momentum in Ethereum’s price movement.

The positive MACD implies that upward pressure could persist in the near term. However, the Relative Strength Index (RSI) at 48 indicates a relatively balanced situation between buying and selling pressures, potentially preventing an extreme price surge or drop.

Considering these indicators, it’s plausible to expect Ethereum’s price to continue its moderate upward trajectory, possibly encountering minor fluctuations due to the RSI’s middle-ground reading.

Traders should remain vigilant and assess how the RSI develops alongside price movements to gauge whether the bullish trend will consolidate or face resistance.

Meanwhile, as always, the cryptocurrency market is highly volatile, so traders are advised to consider other analyzing tools before deciding.

Factors That Might Trigger ETH Rally

The belief in Ethereum’s potential for a significant price rally is valid. However, it’s important to note that prominent investors’ current behavior raises concerns. Despite the potential for an upswing, more prominent investors favor selling over buying the altcoin.

This sentiment is highlighted by recent alerts from Whale Alerts, which track significant transactions involving substantial amounts of ETH.

🚨 🚨 19,109 #ETH (35,336,854 USD) transferred from unknown wallet to #Coinbase https://t.co/BVyXp1Y8U3

— Whale Alert (@whale_alert) August 14, 2023

As a result, these investor actions might impact the immediate price trajectory of ETH, potentially delaying the anticipated substantial rally until a shift in investor sentiment or market dynamics occurs.

Furthermore, Ethereum attracts more prominent adoption than many competing platforms. Just last week, it was revealed that PayPal intends to introduce its stablecoin built on the Ethereum network.

Given these circumstances, it’s time until ETH experiences an upswing. The alternative coin is anticipated to rebound to $1,900 within the coming weeks.

There’s also a possibility of it reaching $2,000 within a couple of months and surpassing $2,500 by year-end.

Launchpad XYZ Presale Continues

The presale for Launchpad XYZ, an exciting platform focused on Web3 analytics, has achieved a milestone by surpassing the $1 million mark in funding.

This accomplishment has captured the interest of investors looking for a project that can revolutionize the crypto landscape.

Launchpad XYZ functions as a comprehensive gateway, providing crypto traders, investors, and users with various tools to improve effectiveness and profitability within Web3.

The Launchpad XYZ team is committed to simplifying Web3 technology and promoting its adoption by offering essential resources and tools.

The founders have integrated distinct elements such as a trading terminal, trading edge, Launchpad Quotient, and an A.I. search to bring this vision to life.

$LPX Presale Exceeds Expectations Amidst Market Uncertainties

The ongoing presale for Launchpad XYZ has achieved a significant milestone, surpassing $1.28 million today. Each unit of $LPX is being sold for $0.0445. The presale phase of Launchpad XYZ might come to an end once it reaches the fundraising goal of $1.55 million.

The increasing interest and participation in the presale suggest the potential for notable profits after investing. This is due to the presumption that the project’s token value could experience massive growth upon its launch on cryptocurrency exchanges.

To position yourself as an early investor and potentially reap favorable profits, visit the project’s website and link your cryptocurrency wallet. Interested investors can use BNB, ETH, USDT, or fiat currency through bank cards to grab the $LPX tokens.