Ethereum Price Prediction 2023-2032
Is it a fact that “The Merge did not change anything for holders/users.”? Crypto prices are unlikely to see a major recovery without new or returning investors bringing cash back into the market. Unless retail investors enter the market, Ethereum won’t strongly blast above its all-time high (ATH). Maybe something like Coinbase, NFT marketplace, or other factors can spark interest from retail investors. There are also many wealthy individuals holding large amounts of Ethereum.
How much is Ethereum worth?
As of now, the price of Ethereum is $1,636.18, with a 24-hour trading volume of $4,919,104,882. Ethereum is down 0.95% in the last 24 hours. It currently holds the #2 ranking on CoinMarketCap, with a market cap of $196,736,858,200. The circulating supply of Ethereum is 120,241,847 ETH coins, and the maximum supply is not available.
Ethereum price analysis: ETH slip to $1,636 after a bearish takeover
- Ethereum price analysis shows a bearish trend.
- ETH forms a descending triangle as selling pressure mounts.
- The resistance level for the token is strong at $1,659.
On October 4th, Ethereum price analysis indicated a negative sentiment as the token lost significant ground, slipping to $1,636. This bearish trend comes after a sharp rally that took ETH above the $1,700 mark in the past week. However, strong selling pressure has taken over and is causing a downward pull on the token’s price. The descending triangle formed by ETH’s price chart indicates the current market sentiment.
Ethereum price analysis daily chart: ETH fails to breach resistance at the $1,700 level.
The daily chart for ETH shows that bears have been continuously pushing to break through the support level of $1,600. However, they have failed to breach this resistance and push the token further downwards. ETH faced rejection at the $1,700 level as it was unable to break through this resistance. Currently, ETH is trading at $1,636, down by 0.95% at the time of writing.
The volatility is low with Bollinger bands converging, indicating consolidation in the market. The upper Bollinger bands are at $1,705, and the lower Bollinger bands are seen at $1,555, suggesting that ETH could remain range-bound for some time. The relative strength index (RSI) is currently at 48.84, indicating a bearish market in the near term.
Ethereum price analysis: Bull struggles to push ETH above $1,700
The 4-hour Ethereum price analysis also shows a negative trend as ETH suffered a significant loss in the past few hours. The selling pressure has reduced the coin’s worth, but there are still active bulls trying to raise the price. However, the sellers have become more powerful and will likely keep the price at the lower level for some time.
Ethereum Recent News/Opinions
CME Launches Ethereum Futures ETFs with Modest Initial Trading Activity
The Chicago Mercantile Exchange (CME) has introduced Ethereum Futures Exchange-Traded Funds (ETFs), but the initial trading activity has been relatively subdued. This cautious start for the new financial instrument might be attributed to investor caution, regulatory considerations, and the volatile nature of the cryptocurrency market. However, as investors become more familiar with these ETFs and gain confidence in their utility, trading volumes are likely to increase.
Ethereum Price Predictions 2023-2032
Price Predictions by Cryptopolitan
In 2023, the minimum price of Ethereum is predicted to be $2,048.41, with an average price of $2,139.84 and a maximum price of $2,335.71. The price is expected to continue growing in the following years, with a significant increase in 2025, reaching a maximum price of $5,124.95. By 2032, Ethereum is projected to have a maximum price of $66,610.42.
Ethereum Price Prediction by Wallet Investor
Wallet Investor predicts that Ethereum is a bad long-term investment. They forecast that Ethereum will be worth $677.212 in five years, which represents a devaluation of 98.6%.
Ethereum Price Prediction by CryptoPredictions
CryptoPredictions predicts that Ethereum will have a maximum trading price of $1,853.037, a minimum trading price of $1,260.065, and an average trading price of $1,482.430 in the future.
Ethereum Price Prediction by Digital Coin Price
Digital Coin Price is bullish on Ethereum and predicts that its maximum price will be $3,474 by the end of 2023. By 2026, Ethereum is projected to reach a maximum price of $7,167, and by 2029, it could reach a maximum price of $11,851.
Ethereum Price Prediction by CoinCodex
CoinCodex predicts that Ethereum will have a maximum price of $1,676 within a year.
Ethereum Price History
Ethereum’s price history shows that it was worth significantly less in 2022 than in late 2021, although still higher than its all-time low. Ethereum’s price surged in 2021 due to various factors including the sale of NFTs and developments in the decentralized finance (DeFi) sector. However, Ethereum is facing scalability challenges due to high transaction fees and the energy-intensive proof-of-work (PoW) consensus mechanism.
More on the Ethereum Network
Ethereum Milestones
Ethereum has reached several milestones in its history, including the successful implementation of the London hard fork, which introduced the EIP-1559 upgrade to reduce transaction fees and make the network more efficient. The recent merge with the Beacon Chain marked a transition from proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism. The next major upgrade planned on the Ethereum mainnet is sharding, which aims to address scalability issues.
The Merge and Sharding
The Merge refers to the joining of the original execution layer of Ethereum with its new proof-of-stake consensus layer, the Beacon Chain. The Merge eliminated the need for energy-intensive mining and enabled the network to be secured using staked Ethereum. Sharding, on the other hand, is the next major upgrade planned for the Ethereum mainnet and aims to improve scalability by distributing the burden of data storage and computation across multiple shards or chains.
ETH’s Fundamental Analysis
ETH is the native cryptocurrency of the Ethereum network and is used to pay for transaction fees and computational services. It also serves as a medium of exchange in the Ethereum ecosystem, enabling users to transfer value and interact with smart contracts. The introduction of smart contracts on the Ethereum network revolutionized the way agreements are made and executed. Ethereum has also been at the forefront of the decentralized finance (DeFi) movement, allowing for the creation of various financial products and services.
Ethereum Mining
Ethereum uses a proof-of-work (PoW) consensus mechanism, similar to Bitcoin, where miners validate transactions and secure the network. Miners are rewarded with newly created ETH for their computational work. However, Ethereum is in the process of transitioning to a proof-of-stake (PoS) consensus mechanism, where
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