In late 2017, Ethereum began a rapid and dramatic rise in price, reaching an all-time high of $1,419.47 on January 4th, 2018. An answer to Bitcoin’s security issues, Ethereum catapulted into the spotlight and reached a market cap of $137.6 billion. This made Ethereum the second most valuable cryptocurrency and made its creator, Vitalik Buterin, worth $400 million.
Ethereum has been growing at an astounding rate for the past several months. At the moment it is trading around $85 a coin with a total market cap of $8.4 billion. The Ethereum network is growing by the hour with new ICO’s and Dapps being built on top of it. Ethereum has been one of the biggest stories of 2017 and could potentially be one of the biggest stories of 2018. It is hard to predict whether ethereum will keep growing at its rapid pace, but here is why ethereum could be a great investment option.
Summary of the situation
- Ethereum price predictions show that the crypto asset is on its way to hitting the $3,000 mark.
- A decisive close above the $2,700 mark would allow Ethereum to continue its upward trend.
- Key technical indicators suggest that Ethereum is on the eve of a short sale wave.
- Sustained buying pressure will boost Ethereum’s value and refute the impending bearish narrative.
Ethereum is currently experiencing a price recovery after the recent market collapse. Although the crypto asset is currently experiencing a sideways price movement, it has managed to break through its ceiling by setting a new ATH. While this is good news for Ethereum owners and investors, the sudden jump in price may be a bit of a setback.
Ethereum Price Forecast: Price Overview
Among the top 10 crypto-currencies on the market, Ethereum continues to lead the positive price action this week. The smart contract crypto-currency has lost value twice in the past week, settling just above the $2,000 support line. Fortunately for the coin, the bulls resumed their run this week and saw the coin climb towards the coveted $3,000 again. The $2,000 support line has played a crucial role in the meteoric rise of Ethereum. The recent surge has seen crypto assets rise above $2,700, narrowly missing the $2,800 mark.
At the time of writing, Ethereum is trading at $2,762 and fighting hard to reach the $3,000 mark. While trading dominated sideways according to the relative strength index, the bulls seem to want ether to end the day above the $2,800 level. The RSI indicator is currently at 63 after Ethereum entered overbought territory. Entering overbought territory is a good thing for Ethereum, as it shows that it currently enjoys investor confidence.
Ethereum price movement in the last 24 hours
On the 24-hour chart, Ether 2’s price movement shows critical technical formations that indicate a downtrend awaits the crypto asset. The Momentum Reversal Indicator (MRI) and a candlestick with a rotating top are painting a bearish picture. Both technical indicators suggest that Ethereum’s bullish momentum has been exhausted, indicating a price correction. Since the Momentum Reversal indicator on the 24-hour chart is showing a red 1-loop, this suggests that Ethereum could experience a 1-4 candle correction in the near future. Moreover, a gyroscopic candle moving below Ethereum’s opening price predicts a price reversal in the near future.
At the time of writing, the value of Ethereum is rising, but the number of daily active addresses seems to be declining. Since April 21, the number of active addresses has dropped by about 7%, from 700,000 to 660,000. This draws a bearish scenario for Ethereum.
Ethereum 4-hour chart
According to the 4-hour chart of the crypto asset, the moving average convergence indicator (MACD) shows that Ethereum is gradually moving towards a downtrend. This can be seen by the blue MACD line that continues below the signal line. If the situation does not change, Ethereum is likely to face increased bullish and selling pressure, which will undoubtedly push it towards the $2700 level.
While key technical indicators outline a bearish scenario, bulls should consider the possibility that Ethereum resists these indicators and focus on continuing the bullish momentum. If Ethereum manages to break above $2,800, it will negate the reported bearish outlook and continue its upward run. Investors should expect the pioneering smart contract token to reach $2,900 if that happens.
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Frequently Asked Questions
What will ethereum be worth in 2030?
ethereum coin price is currently $1.47 per coin, which puts its total market cap at about $40 billion. What will it be worth in 2030? This is a question that isn’t easy to answer. That’s because ethereum’s value is both correlated to its platform usage, as well as the worldwide market for cryptocurrencies. On the one hand, if more people start using ethereum for smart contracts and decentralized applications, or it is adopted by more popular platforms, its value will increase. On the other hand, if there is a sudden drop in cryptocurrency interest or a worldwide recession, the demand for ethereum could decline, causing its price to drop as well. The world of cryptocurrency is all about one question: will it ever be worth something? And while many people may have different ideas of what can be done with blockchain technology, the one thing everyone can agree on is that the price of Ethereum will probably go up. And how high will it go? Well, that’s where it gets tricky. Some people think it will hit $100,000 per coin by the end of 2021. Others are predicting hundreds of thousands of dollars per coin in 2030—or perhaps even millions.
Will ethereum reach 1000 again?
At this time of writing Ethereum has hit 1000 USD per ETH after a long bear period. I am sure that everyone is wondering if ethereum will be able to reach this price again. If we look at our time-line we might be able to make a prediction on this. It is important to note that this post is not based on financial advice, only on speculation, so don’t invest more than you can afford to lose and make sure you have basic knowledge of what the investments are about. How can we predict the price of ethereum? Can we use traditional financial metrics like price-to-earnings ratio, price-to-sales ratio, discounted cash flow analysis, and so on? There is also the option of using technical analysis of the charts. But there are other models, like the network value to transactions ratios for bitcoin, or NVT for cryptocurrency in general, which is specific to the blockchain space because of the way blockchain works.
What will ethereum Classic be worth in 2020?
Ethereum Classic is looking extremely bullish right now. The market is going up. The market cap is going up, etc. When will Ethereum Classic (ETC) reach the price that I am predicting it to reach? Here’s my answer: it should reach the price of $0.0016 in 2020. Day by day I am watching ETC’s price increasing. It’s price is rising. It is because of the hard fork that happened in the ethereum blockchain. I think when the market is going up, it is a good time to invest in cryptocurrecny. Bitcoin is the undisputed king of cryptocurrencies, but the king can be toppled. Ethereum Classic is a new contender for the throne, also known as Ethereum, which has been around since 2015. It is the original blockchain that still runs Ethereum and it has much more potential than Ethereum. In the next few years, Ethereum Classic is going to become one of the top cryptocurrencies in the world. Ethereum is just a starting point for new cryptocurrencies and it is a platform for building them. Ethereum Classic is going to become a new cryptocurrency platform because it is more decentralized, more affordable and has lower fees than Ethereum. Ethereum Classic’s token, ETC, is going to be the future of digital currency and there will be some very important announcements in
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