- The Ethereum price closed the previous day’s trade at $1326.51 with a market capitalization of $157.58 billion and a circulating supply of 122.4 million ETH
- The ETH price continues to form constant lower highs & lows, being stuck within a descending trend & awaiting for the revival of bulls
Ethereum (ETH) PRICE & Technical Analysis
|ETH Price Prediction for Today||$1298.44|
|14 Day RSI||32.24|
|Fear and Greed Index||20 (Extreme Fear)|
|Green Days||14/30 (47%)|
Ethereum Technical Analysis for the Week
Ethereum price after undergoing pre-Merge rally, dropped heavily falling prey to ‘Sell the news. The bearish action dragged the price too low as $1221.51, where-in the bulls jumped in to uplift the price above $1300. Currently, the price continues to trade within a bearish influence as the bulls still appear to be uncertain about the upcoming rally.
On the brighter side, the buying pressure continues to mount leaving less space for the bears to swell. Additionally, the RSI maintains a firm upswing despite the price appearing significantly shaky. Also, the MACD flashes bullish signals that may pave way for a notable upswing. The Ethereum price is trading at $1334.37 at the moment and is expected to rise beyond $1400 by the end of the week.
Additional Read: Ethereum Technical Analysis
Ethereum Technical Analysis at a Glance
The ETH price after the gigantic fall from $3600 in May has been largely restricted below $2000 for quite a long time. While multiple events, majorly the Ethereum Merge failed to induce bullish momentum, the price is expected to continue a sideway trend for some more time ahead. Therefore, maintaining a descending consolidation, the ETH price may eventually reach the last point of defence very soon.
|Short Term||The ETH price is attempting very hard to keep up the bullish trend while a drop in momentum drags the price lower|
|Mid-Term||The token appears to have reached the lower support and gearing up to ignite a strong upswing|
|Long-Term||The buying volume has dried up significantly and hence the bears may take over the rally soon|
Will ETH Price Reach $1700 Today?
Ethereum’s price dropped hard soon after the Merge but after managing the trembled situation, the price rebounded well. After marking the daily highs at around $1355, the ETH price is expected to undergo a minor correction soon. As the buying volume has eased, the bears could drag the price close to $1315, while maintaining the lower support at $1300.
In the next couple of hours, the trade set-up may remain bearish as the crypto may mark the daily lows. As the day’s close approaches, the token may rise in its volatility and eventually rebound finely. The Ethereum price may trade in between $1328 to $1350 by the end of the day, while a bullish push may uplift the price beyond $1380.
Will ETH Price Reach $2000 by the End of the Month?
Ethereum has been stuck up within a deep bearish trend since the mid of September that dragged the price from $1780 to as low as $1221. While the crypto has ignited a rebound, the flip is yet to be validated as the possibilities of a significant drop continue to haunt the rally. Moreover, the extended bearish pressure is likely to drag the price below $1300 too.
In the next couple of days, the ETH price is expected to continue to follow a descending consolidation and mark the bottoms at around $1220 initially. If the token fails to sustain, it may further drop hard to test $1000, failing to which the second largest crypto may be stuck up for a long time. Therefore, the Ethereum price prediction by the month is around $1205 to $1156.
Ethereum Price Prediction: Price Trend Comparison with Cardano(ADA)
- Ethereum & Cardano, both underwent a major network upgrade in the past 10 days.
- Ethereum underwent a transition from PoW to PoS, while Cardano deployed Vasil Hard Fork successfully
- The ADA/USDT price dropped from +15.03% to mark lows at -2.69% and currently trading at around +1.74%
- While ETH/USDT dropped heavily from +12.30% and plunged hard to reach the lows at -20.40% and currently trading at -15.96%
Ethereum Price Prediction: 2022, 2023, 2024, 2025
Ethereum is known for its slow yet stable rally compared to the other top cryptos in the market. The token which is currently bearish is expected to coil up fast by squashing the bearish pressure in the coming days. With a notable bullish close for 2022, ETH price may pave way for a decent bounce in 2023 and thereafter maintain a decent upswing.
|Year||ETH Price Forecast|
|2022||$1650 to $1987|
|2023||$2700 to $3967|
|2024||$4200 to $5600|
|2025||$5200 to $5800|
Ethereum News Today
- Ethereum funding rates which had fallen Mega-negative just before the Merge, have been stabalizing of-let
- Github has unbanned Toronado Cash’s repositories following an appeal from one of Ethereum’s Core Developer Preston Van Loon.
OFAC has stated: “U.S. persons would not be prohibited by U.S. sanctions regulations from copying the open-source code and making it available online for others to view”
— prestonvanloon.eth (@preston_vanloon) September 13, 2022