In this Ethereum (ETH) price prediction 2024, 2025-2030, we will analyze the price patterns of ETH by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Ethereum (ETH) Current Market Status/h2
ETH Current Market Status (Source: CoinMarketCap)h2 What is Ethereum (ETH)/h2
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.
h2 Ethereum 24H Technicals/h2
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(Source: TradingView)
h2 Ethereum (ETH) Price Prediction 2024/h2
Ethereum (ETH) ranks 2nd on CoinMarketCap in terms of its market capitalization. The overview of the Ethereum price prediction for 2024 is explained below with a daily time frame.
In the above chart, Ethereum (ETH) laid out an ascending channel pattern. An ascending channel is the price action contained between upward-sloping parallel lines. Higher highs and higher lows characterize this price pattern. An ascending channel is used to show an uptrend in a security’s price. Ascending channels are short-term bullish in that a stock moves higher within an ascending channel, but these patterns often form within longer-term downtrends as continuation patterns.
At the time of analysis, the price of Ethereum (ETH) was recorded at $3,770.93. If the pattern trend continues, then the price of ETH might reach the resistance levels of $3734.35, and $6167.80. If the trend reverses, then the price of ETH may fall to the support of $2271.93, and $1540.71.
h2 Ethereum (ETH) Resistance and Support Levels/h2
The chart given below elucidates the possible resistance and support levels of Ethereum (ETH) in 2024.
ETH/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Ethereum (ETH) for 2024.
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (ETH) are shown in the chart below.
ETH/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Ethereum (ETH) market in 2024.
In the below chart, we analyze the strength and volatility of Ethereum (ETH) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
ETH/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Ethereum (ETH).
h2 Comparison of ETH with BTC/h2
Let us now compare the price movements of Ethereum (ETH) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of ETH is similar to that of BTC. That is, when the price of BTC increases or decreases, the price of ETH also increases or decreases respectively.
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Ethereum (ETH) between 2025, 2026, 2027, 2028, 2029, and 2030.
h2 Conclusion/h2
If Ethereum (ETH) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Ethereum (ETH) price prediction for 2024 is $5835.81. Comparatively, if unfavorable sentiment is triggered, the bearish Ethereum (ETH) price prediction for 2024 is $2721.19.
If the market momentum and investors’ sentiment positively elevate, then Ethereum (ETH) might hit $6000. Furthermore, with future upgrades and advancements in the Ethereum ecosystem, ETH might surpass its current all-time high (ATH) of $4891.70. and mark its new ATH.
This content was originally published by our partners at The News Crypto .
Written By:
The News Crypto
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