Ethereum (ETH) Price Prediction 2023 — Will ETH Hit $2500 Soon?
Bullish ETH price prediction 2023 is $1805.26 to $2109.79.
Ethereum (ETH) price might also reach $2500 soon.
Bearish ETH price prediction for 2023 is $1291.26.
In Ethereum (ETH) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about ETH to analyze the future movement of the cryptocurrency.
Ethereum (ETH) Current Market Status
Current Price
24 – Hour Trading Volume
$33,752,880,169
24 – Hour Price Change
0.8% down
Circulating Supply
120,455,399
All – Time High
$4,878.26 (On November 10, 2021)
ETH Current Market Status
(Source: CoinGecko)
What is Ethereum (ETH)?
Ethereum (ETH), known as Ether, is the native cryptocurrency of Ethereum. Ethereum is an open-source blockchain platform that revolutionized the blockchain and DeFi sector by the introduction of smart contracts. This second-generation blockchain was launched in 2015. Its native crypto coin, ether (ETH) was launched through an initial coin offering (ICO) in August 2014. The entire Ethereum network is fueled by Ether (ETH).
The blueprint of the Ethereum network was first released in its whitepaper in 2013 by Ethereum Co-founder Vitalik Buterin. Since its launch, the blockchain-based software platform functions as a potential launchpad for several other crypto tokens, DeFi protocols, and numerous decentralized applications (dApps). Thus, Ethereum is regarded as the “world computer.”
The smart contracts are coded programs that execute autonomously with pre-defined conditions on Ethereum. These smart contracts are deployed and executed via the Ethereum Vending Machine (EVM).
Ethereum will transition to the Proof-of-Stake (PoS) consensus through The Merge upgrade. Initially, the Ethereum network was built on the high energy-intensive proof-of-work (PoW) since its launch. From 2020, the Ethereum developers have begun preparing for the PoW to PoS transition. The Merge upgrade is set for September 15. After this transition, the Ether (ETH) which was an inflationary token will convert into a deflationary token.
Ethereum (ETH) Price Prediction 2023
Ethereum (ETH) holds the 2nd position on CoinGecko right now. ETH price prediction 2023 is explained below with a daily time frame.
The above chart of Ethereum (ETH) laid out a broadening wedge. The broadening wedge is created by a battle between the bulls and the bears. The bulls are trying to push the price up, while the bears are trying to push the price down.The gap between the upper and lower trend lines grows quickly as the price moves sideways. That creates the “broadening” part of the name for this formation.
Many traders enter the market too early and end up losing money. Keep in mind that if you trade with the trend, you risk being on the wrong side of a rally or sell-off.It is created by drawing two diverging trend lines that connect a series of price peaks and troughs.The formation is considered complete when the price breaks outside the megaphone shape. The trend is usually sideways within the expanding wedge pattern.
Currently, Ethereum (ETH) is in the range of $1,664.13. If the pattern continues, the price of ETH might reach the resistance levels of $1788.47 and $2042.65. If the trend reverses, then the price of ETH may fall to $1407.03.
Ethereum (ETH) Support and Resistance Levels
The chart below shows the support and resistance levels of Ethereum (ETH).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Ethereum (ETH).
Resistance Level 1$1805.26Resistance Level 2$2109.79Support Level 1$1483.23Support Level 2$1291.26ETH Resistance & Support Level
The charts show that Ethereum (ETH) has performed a bullish trend over the past month. If this trend continues, ETH might run along with the bulls overtaking its resistance level at $2109.79.
Accordingly, if the investors turn against crypto, the price of Ethereum (ETH) might plummet to almost $1291.26, a bearish signal.
Ethereum (ETH) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Ethereum (ETH) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of ETH lies below the cutoff line, indicating strong participants in the current trend.
Also, the Moving Average (MA) of Ethereum (ETH) is shown in the chart above. Notably, Ethereum’s (ETH) price lies above 50 MA (short-term), so it is in an uptrend. Currently, ETH has entered a bullish state. Therefore, there is a possibility of a reversal trend of ETH at any time.
Meanwhile, the relative strength index (RSI) of the ETH is 61.81. This means that Ethereum (ETH) is nearly in an overbought state. However, this means a major price reversal of ETH may occur in the upcoming days. So, traders need to trade carefully.
Ethereum (ETH) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Ethereum (ETH). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Ethereum (ETH). Currently, the ADX of ETH lies in the range of 18.68 and thus, it indicates a weak trend.
The above chart also represents the Relative Volatility Index (RVI) of Ethereum (ETH). RVI measures the constant deviation of price changes over a period of time. The RVI of ETH lies at 50, indicating high volatility. In fact, the RSI of Ethereum (ETH) is at 61.81 thus confirming a potential sell signal.
Comparison of ETH with BTC
The below chart shows the price comparison between Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of ETH is similar to BTC. This indicates that when the price of BTC increases or decreases, the price of ETH also increases or decreases respectively.
Ethereum (ETH) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Ethereum (ETH) between 2024 and 2030.
Ethereum (ETH) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Ethereum (ETH) might probably attain $2700 by 2024.
Ethereum (ETH) Price Prediction 2025
With several upgrades in the network, Ethereum (ETH) might enter a bullish trajectory. If the coin grabs the attention of major investors, ETH might rally to hit $3000 by 2025.
Ethereum (ETH) Price Prediction 2026
If Ethereum (ETH) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, ETH would rally to hit $3200.
Ethereum (ETH) Price Prediction 2027
If Ethereum (ETH) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, ETH would rally to hit $3500.
Ethereum (ETH) Price Prediction 2028
If Ethereum (ETH) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, ETH would rally to hit $3900.
Ethereum (ETH) Price Prediction 2029
Ethereum (ETH) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, ETH would hit $4200 in 2029.
Ethereum (ETH) Price Prediction 2030
If investors flock in and continue to place their bets on Ethereum (ETH), it would witness major spikes. ETH might hit $4500 by 2030.
Conclusion
With continuous improvements in the Ethereum network, we can say that 2023 is a good year for ETH. For this reason, the bullish price prediction of Ethereum (ETH) in 2023 is $2109.79. On the other hand, the bearish price prediction of Ethereum (ETH) for 2023 is $1291.26.
Furthermore, with the advancements and upgrades to the Ethereum ecosystem, the performance of ETH would help to reach above its current all-time high (ATH) of $4,878.26 very soon. But, it might also reach $2500 if the investors believe that ETH is a good investment in 2023.
FAQ
Ethereum or Ether (ETH) is the native cryptocurrency of Ethereum. Ethereum is a second-generation blockchain platform that launched in 2015. Ether (ETH) was launched in 2014.
Ethereum (ETH) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, KuCoin, Kraken, Bitfinex, and Bitstamp.
With the ongoing developments and The Merge upgrade in the Ethereum network, Ethereum (ETH) has a high possibility of reaching its ATH soon.
On November 10, 2021, Ethereum (ETH) reached its new all-time high (ATH) of $4878.26.
Ethereum (ETH) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Ethereum in the past few months, ETH is considered a good investment in 2023.
Ethereum (ETH) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Ethereum (ETH) will hit $2500 soon.
Ethereum (ETH) price is expected to reach $2700 by 2024.
Ethereum (ETH) price is expected to reach $3000 by 2025.
Ethereum (ETH) price is expected to reach $3200 by 2026.
Ethereum (ETH) price is expected to reach $3500 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Filed under: Bitcoin - @ March 16, 2023 1:10 pm