Ethereum Price Analysis $3,000 | The move in Ethereum this past weekend was nothing short of a phenomenon. In what was a massive upwards reversal, the cryptocurrency jumped by over 400% in a short period of time. Coupled with the fact that there were rumours of an impending fork, this has marked a massive turnaround for the third largest coin by market cap.
We’ve recently been following Ethereum (ETH) in depth, after seeing the explosion of interest in the cryptocurrency last year. The problem, however, is that the price of ETH has been stuck in a rut. On some days the price of ETH can see huge gains, on others (like Monday, February 20, 2018) it can see huge losses.
The Ethereum price is climbing back to the top ranks of cryptocurrencies by market cap, even though its price has been fluctuating a lot the past couple of weeks.. Read more about bitcoin price and let us know what you think.Summary of the situation
- Ethereum price analysis shows the probability of ETH returning to the $3,000 mark.
- With the bullish camp exhausted, the short-term technical indicators are turning bearish.
- A decisive close below $2,000 could kill any bullish outlook.
- A strong close above $3,000 would open the door for further uptrends.
The price of Ethereum is still in limbo as market participants react to relatively strong U.S. inflation data released this week and amid increased competition. At the time of writing, Ethereum stands at around $2,472, down about 15% from this month’s high.
Ethereum Price Analysis: Price Overview
Ethereum’s price movement lacks the volume to register a significant price rally at the time of writing, so it is currently consolidated. However, news of the Salvadoran government’s adoption of bitcoin could lead to a rally in cryptocurrency and the general market over the weekend. As before, Ethereum’s price movement tends to follow that of Bitcoin, although it shows less volatility in its oscillations. For example, when bitcoin rose 13%, Ethereum rose only 13%. This indicates a disinterest in the predictions of altcoin pioneers. Nevertheless, the ETH price is currently above the 50% Fibo retracement level at $2.20. If Ethereum falls to this level, investors should expect further upside momentum. In some cases, however, this price decline could be delayed, causing the crypto asset to fall to a swing low of $2,270.
Ethereum price movement in the last 24 hours
Source: TradingView According to the 24-hour chart, Ethereum seems to be struggling to form a support line at $2400 to push the price towards $3000. This can be partially attributed to the converging resistance formed by the 50 and 100 simple moving averages, which prevents bulls from extending Ethereum’s rise. A downward price movement seems to be the easiest path for Ethereum at the moment, despite the $2,400 support line. This trend makes crypto assets vulnerable to significant losses. According to key technical indicators, Ethereum is expecting a short downtrend before rebounding. For example, the Relative Strength Index on the chart is currently in negative territory. As for the moving average convergence divergence, the technical indicator is currently pointing down and bypassing the signal line.
Ethereum 4-hour chart
Source: TradingView On the 4-hour chart, the MACD indicator appears indecisive, indicating that it prefers a sideways trade. Nevertheless, the indicator is currently in negative territory, which means that the bears are in charge. Traders should keep an eye on the direction of the MACD indicator in the coming hours. It should be noted that a further price decline is possible if the divergence below the signal line gets stronger. Lower support areas seem to be expected around $2,000 and $1,700 respectively.
We expect Ethereum’s uptrend to continue after the weekend, even if it drops to the 62% Fibo retracement or the next resistance barrier. These amounts are $2,177 and $2,077, respectively. The expected rally from the above support levels will likely propel Ethereum to highs at $2,553 and $2,850. If the overall market situation improves over the weekend, the Ethereum price rally could continue and take the crypto asset towards the highs of the $2,910 area. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The price of Ethereum has been climbing steadily since the beginning of 2017. The cryptocurrency surpassed the $300 mark for the first time in mid-February and has been steadily rising ever since. After the sharp rise in early March, Ethereum investors saw a drop in the price of the cryptocurrency, but the currency was quickly back on track as the week began.. Read more about litecoin price and let us know what you think.
Frequently Asked Questions
What will ethereum be worth in 2030?
With the recent surge in interest in Ethereum, the popularity of altcoins like Ripple and Bitcoin Cash, and the problems surrounding Bitcoin, there has been increased interest in a new blockchain platform with a focus on decentralization and privacy. This platform is named Ethereum, and it has become the de-facto platform for smart contracts, where users can create their own contracts and programs from scratch. Ethereum prices have been on a roller-coaster ride for the past three years, but in recent months, the cryptocurrency has shown signs of stabilization. Vitalik Buterin, the founder of Ethereum, has had a lot to say about the future of the network. Some have even gone so far as to predict that ethereum will become the world’s dominant cryptocurrency and that it will soon surpass bitcoin in price.
What is ethereum worth in 2022?
Ethereum is a blockchain-based distributed computing platform and software that enables the development of decentralized applications on the Ethereum Virtual Machine. It’s a hugely popular cryptocurrency, part of the largest virtual currency market by total value. Ethereum’s price has risen by over 2,000% since its inception in January 2017. Ethereum’s current price is at around $400, and may continue to rise in the near future. Bitcoin and Ethereum are both platforms that run on the same currency: blockchain. Blockchain is a decentralized system where every transaction is permanent and practically impossible to change. But, the way in which they solve different issues is very different. Bitcoin is one of the first of such systems. It was created in 2009 and its original purpose was to serve as a payment system. Ethereum (Ether) on the other hand, was built with the aim of running smart contracts. These contracts function more like applications than a payment system.
Will ethereum reach 1000 again?
For the first time after a long time, I’m going to create a blog post about Ethereum. Sorry about that. I was busy with other things for a long time and was not able to write about Ethereum, so let’s start this blog post. I will talk about Ethereum’s price prediction. I will tell you that how much will Ethereum price be in the future. So, I think you will enjoy this article, so let’s start. Ethereum $3,000 and IOTA $1,000. These cryptocurrencies are skyrocketing right now, with Ethereum going from $850 to over $3,000 and IOTA from $0.3 to $1. IOTA was created by the IOTA Foundation, which is based in Germany. IOTA is a crypto with its own built-in tangle algorithm, which is supposed to make transactions faster and cheaper. In the crypto world there are two main definition for IOTA: one is a ‘platform’ for developers, which is called the “IOTA Ecosystem,” the other one it is the ‘cryptocurrency’ by itself, and is called “IOTA.”
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