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Ethereum aims to become a global network for DApps (decentralized applications) that will allow users across the globe to write and launch software without censorship, fraud, and downtime. Its cryptocurrency, Ether (ETH), facilitates the execution of distributed smart contracts and operations on the platform with other cryptos.
Most times, the price trends of cryptocurrencies can hint at their potential performances when monitored. Ethereum’s platform facilitates its operations using the ETH cryptocurrency. Thus, it’s prone to volatility and can be influenced by certain factors controlling the market’s bullish and bearish sentiments.
Ethereum (ETH) Past and Present Trend
As one of the leading cryptocurrencies in the crypto space, ETH has faced several rallies, volatility, and price fluctuation since joining the market. As of October 17, 2021, ETH traded at $3,845 before hitting $4,891 (its all-time high) on November 16, 2021. This value is far greater than the all-time low record of the cryptocurrency – $0.4209 7 years ago (October 21, 2015).
ETH has dropped 61.81% from its all-time high and is striving to reach the $2K price mark. As of January 31, 2023, ETH reached $1,567 compared to its opening price of $1,196 at the beginning of January.
By February 2, the crypto’s bullish trend got it to $1,641 amid several pullbacks, which caused the $1,634 price drop on February 28.
Throughout March, ETH faced bearish pressure amid some recovery attempts, which got the price to $1,793 at the end of the month. Ethereum began April with a bullish momentum, hitting $1,909 in 6 days (April 6, 2023) before returning to its $1.8k mark.
As of today, March 8, 2023, ETH is up to $1,896, with a 3.23% price increase at the time of writing.
Ethereum (ETH) Price Prediction Based on Technical Indicators
Ethereum has made a dramatic recoil from its losses in the past few days. As of today, March 8, 2023, the value of ETH’s Relative Strength Index (RSI) is 56.79. This value indicates the neutrality of the cryptocurrency’s price. Furthermore, the sideways movement of the RSI reflects the bullish trend on the daily chart.
Its Moving Average Convergence/Divergence (MACD) has gone under the signal with a bold BAR on the Histogram. This indicates a possible bearish outcome in the coming days. Moreover, ETH trades between its 50-Day and 200-Day SMA (Simple Moving Average), indicating a short-term bearish sentiment for the weeks ahead.
The support levels of ETH are $1,793, $1,810, and $1,832, with resistance levels of $1,872, $1,889, and $1,912. Looking at ETH’s price today, Ethereum is trading above its $1,889 resistance level. It may rally above its highest resistance level if the bulls emerge stronger.
Experts’ Long and Short-Term ETH Price Prediction
The predictions from several crypto experts, whether bullish or bearish, serve as hints for future price actions of the assets. For ETH, here are some Ethereum (ETH) Price Predictions for 2023 to 2030.
Changelly Ethereum (ETH) Price Prediction
According to Changelly, Ethereum (ETH) may hit the $2k mark by the end of March if the bulls maintain their uptrend in the market. Also, by the end of 2023, it’s likely to reach a maximum of $2,824, a minimum of $2,493, and an average of $2,568.
By 2024, the experts expect the asset to reach a maximum price of $4,306, a minimum of $3,751, and an average of $3,880. By 2025, ETH will reach a maximum of $6,701, a minimum of $5,281, and a trading average of $5,475. The analysts further predict that the maximum price of Ethereum by 2026, 2027, 2028, 2029, and 2030 will reach at least $9,295, $13,360, $20,238, $29,501, and $42,385, respectively.
The asset’s minimum prices during these years will be around $7,604, $11,505, $17,149, $23,751, and $35,974, respectively. These prices will come with averages of $7,878, $11,899, $17,625, $24,632, and $37,205, respectively.
Coinpedia Ethereum (ETH) Price Prediction
Coinpedia believes that ETH will end 2023 with a maximum of $2,304, an average of $1,913, and a minimum of $1,522. 2024 will have $2,939, $2,522, and $2,106 as its maximum, average, and minimum prices, respectively.
As Ethereum becomes more user-friendly, it could scale up to a $4,616 maximum price, a $3,703 average, and a minimum price of $2,789 in 2025.
By 2026, ETH is expected to record a $6,610 maximum price and $26,575 by 2030.
Factors That Might Affect Ethereum (ETH) Price
The following are some factors that might affect the price of ETH.
Crypto Regulations
Strict crypto regulations can affect the sentiment of the crypto market, causing price drops in cryptocurrencies. Regulatory bodies like SEC’s enforcement actions against the market can impact cryptos.
ETH is subject to all crypto regulatory policies. If these regulators tail on Ethereum in the future, there might be a drastic price decline in ETH.
Market Sentiments
The price of cryptocurrencies is often influenced by the market’s sentiments. If the positive hype overpowers the fear, there would be a high number of BUY in the market. However, if fear prevails, many investors will sell off their assets to be on the safe side. This can have a huge impact on the price of ETH.
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