Ethereum Price Prediction: ETH Price Down 15% Since August, Hints at Upcoming Bearishness, Here’s Why!

Key Takeaways

• The recent pullback appears to have offered the bulls an opportunity to enter, as the descending trend appears to have stabilized. 
• Regardless of the short-term price action, the long-term projections flash bearish signals as there are selling pressures across the board in the Ethereum price.
• The volume remains close to the lower range, while the technicals remain somewhat in favor of bears today.

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Ethereum Overview as of September 22, 2023

Ethereum Price	$1,595
24 Price Change	-0.8%
7D Price Change	-2.2%
Market Cap	$191 billion
Circulating Supply	120.22 million
Trading Volume (24-Hour)	$4.73 billion
ATH	$4,891.70
Fear-Greed Index	43 (Fear)
Sentiment	Bearish
Volatility	1.58%
Green Days	15/30 (50%)

Ethereum Technical Analysis

Bullish	10%
Bearish	90%

Caption: ETH/USD | Source: TradingView

• The Ethereum token price has been trading along the lower trend line since the beginning of the year, while the recent pullback compelled the token to lose its bullish streak.
• ETH price is currently trading below the $1700 level and is also stuck in a bearish descending triangle (marked in blue). This is a pretty worrisome situation for the altcoin king of the crypto market.
• ETH price is currently trading at the lower end of the descending triangle pattern and is on the verge of a breakdown. A breakdown from this level can be pretty catastrophic for Ethereum price for the rest of 2023, as the next level of support for the token is placed around $1500, which is a psychological level and also roughly coincides with the S2 of the Fibonacci pivot level.
• The 50-day and 200-day exponential moving averages underwent a bearish death cross early in September 2023, which can be expected to add in further selling pressure into the market.
• On the upside, the ETH token’s price would need to breach the $1700 mark to regain any sign of bullishness going forward. Thus, the potential remains pretty equal on either side, with ETH prices trading roughly around $1600 as of writing this article. ETH price has an estimated $100 margin on either side of the CMP.
• Bitcoin and Ethereum prices had started off 2023 on a decently positive note, with both gaining similar amounts in percentage terms – but more than halfway through 2023 – we see that while Bitcoin has managed to maintain its strength, Ethereum has lost a significant portion of its gains. ETH price is down 25% from YTD highs of $2100 (achieved in April 2023) to tethering around $1600. 

Read More: Bitcoin Price Prediction

ETH Price Prediction 2023-2030

Year	Minimum Price / Maximum Price
2023	$2150 to $2380
2024	$6150 to $7200

Ethereum Price Prediction September 2023

The broader crypto market has been consolidating within a range between $1 trillion to $1.08 trillion over the last couple of weeks. Thus, this consolidation can be expected to hold for the time being. And Ethereum’s price action has been undoubtedly weak in the same timeframe. Ethereum’s moderately bearish trend can also be expected to continue for the remaining week of September 2023, as there would be a few triggers to create a new upsurge. 

Ethereum can be expected to hover between the $1700 resistance level and the $1500 support level on the chart, and even now, is exactly in the middle of it at around $1600 as of writing this article. Minor movements within this range can be largely disregarded, and unless we see a breakout in either direction, there’s little to set the ball rolling for ETH price. 

Ethereum Price Prediction October 2023

Entering the final quarter historically sparks bullish sentiment, often linked to traders’ increased optimism. While a slight rise in buying pressure is expected, prevailing bearish momentum might retain influence. The month’s outset is likely to witness a phase of consolidation, with the price trading within a narrow region.

In the latter half of the month, a promising pattern emerges as the price surges beyond its confined range, establishing a consistent pattern of higher highs and lows. This shift could embolden bullish players to counter the bearish trend effectively. As the month draws to a close, Ethereum’s valuation could range approximately between $1921 and $1945. 

Ethereum Price Prediction November 2023

A surge of momentum is anticipated in the crypto markets as Q4 progresses. Ethereum’s bullish trend could intensify, propelling prices upward. By mid-month, the price is predicted to approach the $1970 range. In the latter half of the month, Ethereum’s value is expected to experience a substantial upswing, potentially surpassing the $2000 mark. 

This could attract profit-taking bears aiming to exert downward pressure. Yet, a resilient rebound is likely, leading to a month-end closure in the vicinity of $2100 to $2150. As Q4 unfolds, the crypto landscape may witness an exciting interplay of forces, driving Ethereum’s trajectory towards higher values.

Ethereum Price Prediction December 2023

Approaching the year-end, anticipation centers around heightened volatility potentially liberating Ethereum’s price from bearish constraints. Growing bullish dominance might elevate it beyond the $2100 threshold, forming a robust foundation for a substantial upward push toward ambitious targets.

In the lead-up to year-end, Ethereum seems to harness potent bullish momentum. Initial projections indicate a spike surpassing $2200, followed by bullish determination propelling it closer to $2500. While bears might aim to exert downward pressure, the trade’s conclusion could witness Ethereum holding firm around the $2450 to $2525 range.

Ethereum Price Prediction 2024

The bullish conclusion of 2023 could lay the foundation for the second-largest crypto’s robust surge at the outset of 2024. A remarkable price spike might elevate it significantly, surpassing the $2800 mark. Despite this, the ascent could be constrained below $2900, possibly leading to a decline of around $2750 by H1’s end.

As mid-Q3 unfolds, a vigorous rebound could set the stage for an enduring upward trend. Sustaining its climb, Ethereum’s trajectory could culminate in a strong late-year bull run, potentially breaching its current all-time high. Consequently, the year’s closure could position Ethereum’s value between approximately $6500 and $7200, showcasing the crypto’s promising journey through 2024.

Ethereum Price Prediction 2025

Ethereum’s price has demonstrated a robust upward trajectory in 2024. A bullish year-end may lay a solid foundation for further upward movement towards ambitious targets. Bolstered by strong bullish momentum, the bears might remain subdued until a new yearly high is established.

Entering the year’s second half, the upswing could intensify, potentially propelling prices to surpass the significant $10,000 milestone and reach a new all-time high. However, bearish activity could increase as these levels are breached, prompting a modest pullback. As the year concludes, this pullback might evolve into a more pronounced downtrend, potentially closing the year’s trade within the range of $4800 to $5200. Ethereum’s dynamic journey in 2024 highlights its resilience and potential for notable price movements.

Ethereum Price Prediction 2026

2025 saw a descending trend that persisted, potentially evolving into a bear market by the first half’s close. A significant drop of over 50% in ETH price might have occurred as bearish dominance grew.

In the latter half, bearish momentum could have intensified, accelerating the bear market. This might lead to a substantial decline of 75% to 80% from peak values. As the year concludes, Ethereum could trade in the range of $3200 to $3500, wrapping up 2026 on a bearish trajectory. The year’s dynamics underscore the challenges of a prolonged downturn, influencing Ethereum’s valuation and market sentiment.

Ethereum Price Prediction 2027

Emerging from severe bearish pressures, traders may anticipate a significant recovery at the year’s commencement. However, the descending trend could persist, with the bear market potentially bottoming out in Q2. This might lead to a robust rebound, stalling the downward trajectory.

Ethereum’s price might stabilize within a defined range in the latter half of the year. A period of sustained consolidation could precede a bullish breakout. This shift may fuel a healthy upward trend, culminating in a year-end valuation likely between $3500 and $3800. The year’s narrative highlights Ethereum’s resilience, as market forces shape its trajectory, pivoting from bearish struggles to a potential bullish resurgence.

Ethereum Price Prediction 2028

Commencing the year, Ethereum’s price could soar with a pronounced upward momentum, facilitated by a robust recovery phase. This resurgence may extend through the month, aiming to reclaim lost ground. By the first half’s conclusion, Ethereum might regain its position above $4000, forming a strong foundation for a subsequent healthy upward surge.

The latter half could witness a consistent pattern of ascending highs and lows, reflecting remarkable bullish vigor. This upward momentum may persist, maintaining an elevated trajectory until the year’s end. As the year concludes, Ethereum’s price may range between $5800 and $6000, emphasizing its potential for sustained growth and market resilience.

Ethereum Price Prediction 2029

Anticipated for 2029, a robust recovery phase is poised to ignite Ethereum’s trajectory, enabling bullish dominance to flourish. Throughout the initial half, a gradual ascent may propel prices beyond $700. The potential for bears to intervene could be diminished by prevailing bullish control.

In the latter part, the projected upswing gains momentum, possibly evolving into an impactful bull run. This surge might drive prices close to previous highs. While a minor pullback could occur in pursuit of the $10,000 milestone, the year’s closure could see Ethereum trading between $8500 to $9800

Ethereum Price Prediction 2030

In the early days of 2030, Ethereum’s price could reclaim its position above $10,000, establishing a robust upward trend. The bulls might confidently drive an ascent, propelling the price toward a new all-time high (ATH) above $12,000, potentially representing a pinnacle within the ongoing bull market. However, subsequent to reaching this peak, a significant pullback might ensue.

As the year progresses, the descending trend could persist, testing lower support levels. Initially dropping below $10,000, the Ethereum price might stabilize for a period. Nonetheless, during Q3, this downward momentum could intensify, ultimately leading to a bearish year-end close within the range of $9200 to $9500. Ethereum’s journey in 2030 reflects the dynamic interplay of market forces, encompassing both bullish surges and bearish adjustments.

Additional Read: Solana Price Prediction

Will the Ethereum Price Rise Again in 2023?

Ethereum’s consistent resilience has contributed to its enduring reputation, with expectations of continued price consolidation in the foreseeable future. Notably, the price has demonstrated a pattern of robust recovery following each encounter with bearish pressure, showcasing the bullish forces’ potency. As a result, confidence in a sustained healthy upward trajectory for the remainder of 2023 prevails, with optimistic prospects for attaining the envisaged targets. Ethereum’s ability to weather challenges and rebound underscores its enduring strength in the market landscape.

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Values as of September 22, 2023. 

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