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            Ethereum Price Prediction 2023: Bullish Flags Flutter Up-ETH Price Heading To $1800

            February 9, 2023
            Ethereum Price Prediction

            Table of Contents

            • Key Takeaways:
            • Ethereum Price History
            • Ethereum Technical Analysis
            • Overview of Ethereum On-chain Analysis:
            • Ethereum Development Activity
            • Ethereum MVRV/NVT Ratio
            • Ethereum Supply on Exchanges/ Top Addresses
            • Ethereum Price Prediction for 2023
            • Ethereum Price Prediction for 2024 
            • Ethereum PRICE PREDICTION 2025-2030
            • Should you invest in Ethereum in 2023? 
            • FAQs
            • What will Ethereum be worth in 2023?
            • What will be the price of 1 Ethereum in 2030?
            • Will Ethereum ever hit $10K?
            • Is Ethereum a safe investment?

            Key Takeaways:

            • Ethereum price is maintaining a stagnant trend by hovering within a narrow range but poised to display a larger price action in the coming days
            • The bulls are currently accumulating and hence the impending price action could be largely bullish as the buying pressure is slowly mounting up
            • The drop in the supply on exchanges and top addresses indicate the retail traders may revoke a fine upswing by intensifying the volatility soon
            Price  $1671.55
            24H Price Change  +1.73%
            7D Price Change +6.11%
            MarketCap  $204.53 billion
            Circulating Supply 122.37 million
            Trading Volume  $8.37 billion
            ATH $4,891.70
            ATL $0.4209

            Additional Read: Bitcoin Price Prediction

            Ethereum Price History

            • Ethereum price was originally visualized in 2013 and a whitepaper was published in 2014 by Vitalik Buterin. Later, Anthony Di Iorio, Charles Hoskinson, Mihai Alisie, Amir Chetrit, Joseph Lubin, Gavin Wood & Jeffery Wilcke joined. 
            • The first Ethereum transaction was carried out on August 2015 but remained under $1 for the major part of 2015 but spiked heavily in 2016 and crossed $10 marginally
            • By 2017, ETH price soared beyond $100, and by the end of the year ignited a bull run to mark the highs at $1270 in the first few weeks of 2018
            • This was followed by an acute bearish trend that prevails until the last quarter of 2020 where-in the crypto market witnessed another bull run, 3 times the previous one
            • The ETH price surged iconically and marked a new ATH at around $4815, following which the bear market slashed the price below $1000 in 2022
            • Presently, the price appears to have gained significant momentum since the beginning of 2023 and hence is believed maintain a firm upswing thereafter

            Ethereum Technical Analysis

            Ethereum Price Predictions 2023

            Source: Tradingview

            • The Ethereum price is following the multi-year trend line which is acting as a strong base and holds the price each time it hits the bottom
            • After the dreadful fall from over $3000 to close to $1000 in 2022, the price has been flowing within an ascending triangle
            • The price attempted to break the consolidation a couple of times before but failed. However, the price is trading very close to the resistance and displaying possibilities of a bullish breakout in the coming days
            • The MACD is bullish, displaying a heavy accumulation of bullish pressure that may keep up the rally, and also the levels are closer to entering the positive zone which may validate a bullish divergence

            Overview of Ethereum On-chain Analysis:

            Ethereum Development Activity

            Ethereum Price Predictions 2023

            Source: Santiment

            The development activity is recorded on the GitHub repositories which are public and easy to access. The rise in the development activity signifies that the team behind the project is quite serious about building the project and loading it with new features in the coming times. The market participants become bullish on crypto over a long time as the fundamentals become robust.

            The development activity of Ethereum has been on the rise, indicating the team working to deliver new features. Moreover, the much-awaited Shanghai upgrade is fast approaching and a couple of testnets are set to be released soon. Therefore, the price is set to explode very soon.

            Ethereum MVRV/NVT Ratio

            Ethereum Price Predictions 2023

            Source: Santiment

            The MVRV is a ratio of the market capitalization of the token to its realized cap that determines the fair value of the token. If the current value is above the fair value, then the token is overvalued, else undervalued. Besides, the NVT is a comparison between the market cap of the token to its transaction volume. A high NVT indicates that the investors are pricing the token at a premium and a drop indicates they are pricing at a discount. 

            Presently, the MVRV ratio is rising beyond the average ranges, indicating the current price is above the fair value, hence tends to drop as it is overvalued. Besides the NVT ratio is dropping which indicates that the transaction volume is growing more than the market capitalization while the traders are bullish and optimistic.

            Ethereum Supply on Exchanges/ Top Addresses

            Ethereum Price Predictions 2023

            Source: Santiment

            The supply on the exchanges is the number of tokens present in the wallets held by the exchanges and the supply on top addresses which can be called Whale addresses has bottomed. This indicates that both the reserves are drying which may be a bullish indicator for the ETH price in the coming days. 

            The supply on exchanges drops when the market participants no longer have the intention of selling or swapping the token and holding them in their cold wallets. Meanwhile, a drop in the supply of top addresses indicates a rise in the transaction volume of the retail traders which may enhance the volatility, impacting the price positively.

            Read More: Predictions For Future Of Crypto & Blockchain In 2023

            Ethereum Price Prediction for 2023

            Ethereum price fell from above $3000 to as low as below $1000 in 2022, validating a bearish trend. However, the first fortnight of 2023 was pretty bullish as the ETH price marked highs at $1697 but failed to hit $1700. Although the prices have been on a bearish trend since then, the current trade setup indicates the price is due for a notable upswing. 

            The ETH price is believed to spark a notable upswing in March 2023 and rise beyond crucial levels at $1750 and close the Q1 trade around $1800. Further, the price may rise beyond $2000 and invite the bears to extract their profits. By the end of H1 2023, the price could hover around $1950 to $2050. The H2, 2024 could be more bullish with the prices inflating notably but the bears may also maintain equal dominance. Therefore, the price may end the H2 trade around $2200 to $2400.

            Ethereum Price Prediction for 2024 

            The bullish sentiments may be carried forward and the price may maintain significant strength since the beginning of 2024. A notable upswing may uplift the price beyond $2500 in the first few weeks of 2024 while the bear may remain aloof. By the end of Q1 2024, the ETH prices may have attained levels around $2550 and by the end of H1 2022, these levels may rise beyond $2700.

            With a notable upswing, the bull run could be validated as the price remains largely inflated for the rest of the year. During Q3, the price may gain immense bullish momentum and continue to rise to high levels close to $3000. Further, by the end of the year 2024, the ETH price is believed to rise beyond $3300 and an extended bullish wave may rise above $3500 too.

            Ethereum PRICE PREDICTION 2025-2030

            The bullish wave may hover during the first few months of 2025 but the bears may hinder the rally in the mid of the year. The descending consolidation may prevail throughout 2026 and mark the bottom by the end of the year. The year 2027 may remain largely consolidated within a very narrow trend, attempting to spark a rebound. However, after undergoing immense compression, the upswing may begin in 2028 and prevail until the end. 

            The upswing may be a minor step towards the impending bull run that may begin in 2029, rising the price beyond $5500 and marking the highs somewhere around $7000 or $7500.Moving ahead, the price may even reach the milestone of $10,000 in 2030 and soon fall into a deep bearish well.

            Should you invest in Ethereum in 2023? 

            Ethereum price has been considered one of the stable cryptos which eliminate massive price variation. It is the second-largest crypto that withstood multiple bullish and bearish actions since its inception and hence can be considered a profitable investment. However, before any investment, a deep knowledge of the project and an in-depth observation of the market trends is imperative to manage the risks accordingly.

            FAQs

            What will Ethereum be worth in 2023?

            Ethereum price may hover between $2200 to $2400 by the end of 2023 which may further rise to $2600 too.

            What will be the price of 1 Ethereum in 2030?

            The Ethereum price may surpass the pivotal levels at $8500 and reach $9000 in 2030

            Will Ethereum ever hit $10K?

            The Ethereum price is believed to maintain a notable upswing and reach the milestone of $10,000 in the near future

            Is Ethereum a safe investment?

            Ethereum is the second largest crypto and hence can be considered as a safe investment provided if the trader carries a good knowledge of the project and trading patterns

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