Ethereum (ETH) Price Prediction: Is The Rally Over?

Ethereum has dipped slightly today on the price chart, trading at $1,972 below the $2000 price mark. ETH had an impressive rally last week before the bears seized control of the market leading to a general decline. 

ETH traded at $1,200 on January 1, 2023, and moved to $1,417 by January 12. The bulls rallied, driving it to $1,550 by January 14 before it tested the $1,700 price level on February 20. March ushered in a decline as it traded at 1,500 between March 3 and March 8. 

However, ETH returned to $1,792 on March 17. It reclaimed the $1,800 price level by March 31 and peaked at $2,012 on April 13. Ethereum dipped again on April 19, declining to $1,900. 

Will we see a further decline?

Ethereum Price Prediction With Technical Indicators  

ETH is volatile today despite forming a green candle on the charts. The bears are forcing it below the $2,000 price level. Ethereum’s Moving Average Convergence/Divergence (MACD) has dropped below its signal line, expressing a bearish sentiment. 

The Relative Strength Index is at 54.60 in the neutral positions. However, the indicator points upwards, suggesting that the bulls are still active in the market and can trigger a rally soon.

But ETH has stayed above its 50-day and 200-day Simple Moving Averages (SMA), a bullish signal for the asset. 

ETH Support And Resistance Levels

ETH support levels are $1,005.3, $1,150.6, $1,369.9, $1,742, and $1859.6. Also, its resistance levels are $2,058.7 and $2114.8. 

It is currently trading at the $1,974 price level. Ethereum will likely remain at the $1,900 price level for the next few days before the bulls recover to send it above $2,000.

Ethereum Price Prediction By Experts

Experts have compiled Ethereum price predictions for the short and long-term based on technical and fundamental analysis. 

Ethereum Price Prediction By Changelly

Changelly, tip ETH to trade at a minimum of $2,747, an average of $2,851, and a maximum of $3,158 in 2023. By 2025, they predict a minimum of $6,230, an average of $6,441, and a maximum of $7,361. 

In 2030, ETH prices may stand at a minimum of $8,922, a maximum of $10,710, and an average of $9,180. 

Ethereum Price Prediction By Bitnation

Bitnation, forecasts Ethereum to trade at a minimum of $2,364, an average of $2,956, and a maximum of $3,547 in 2023. 

By 2025, they predict a minimum of $6,306, an average of $6,897, and a maximum of $7,488. In 2030, the expected minimum price is $18,130, the average price, is $18,721, and the maximum price is $19,312. 

Ethereum Price prediction By CoinPedia

CoinPedia predicts ETH will trade at a minimum of $1,522, an average of $1,913, and a maximum of $2,304 in 2023. By 2025, they predict a minimum of $2,789, an average of $3,703, and a maximum of $4,616.

 By 2030, the expected ETH minimum price is $20,647, an average price of $23,611, and a maximum of $26,575.

Factors Influencing Ethereum’s Price 

Several factors can influence the price of a crypto asset. These factors include inflation, the laws of supply and demand, and macroeconomic factors such as global recession and wars. A combination of these factors can affect the price of an asset. 

Also, crypto regulations and adoption are other vital areas that affect price movement. Others are the latest news and trends on the Ethereum network.

Ethereum Shanghai Upgrade Goes Live

The long-awaited Ethereum Shanghai Upgrade went live on April 12, 2023. This upgrade allows some validators to withdraw staked ETH and introduces features that improve stake unlocking. Also, the upgrade will significantly slash gas fees which is a concern on the network.

Etherscan reveals that only 170,000 ETH of the 18.1 million staked tokens on the Beacon Chain will be accessible in the first week. Also, a withdrawal queue permits only 115,220 withdrawal requests daily.  However, Glassnode states that contrary to expectations, the upgrade will not have a pronounced impact on Ethereum’s price. They reveal that only 22% of the ETH tokens staked realized profit.

Ethereum Alternatives

DeeLance (DLANCE)

DeeLance is the first blockchain-enabled job marketplace that links quality employees with reliable freelancers. The freelance niche has grown remarkably, with most popular sites overcrowded with fake accounts and bots.

DeeLance represents a breath of fresh air in this overcrowded niche providing employers with quality workers. Also, it protects freelancers with its escrow feature, ensuring that payments are on schedule. 

Additionally, the platform charges low fees for freelancers and employers to render their services. There is no withdrawal threshold, making it easy for freelancers to process payments.

The platform’s token, DLANCE, powers all activities and is currently on presale. Each token is worth $0,029, with a price increase in three days. 

The DLANCE token has its launch price fixed at $0.053, which implies that early investors will automatically earn rewards. Over $300,000 has gone into the project, reflecting investors’ belief in its potential.