Ethereum price prediction: Ethereum reaches $2,950, prepares to break $3,000

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Change is the only constant in life, and cryptocurrency is no different. The past seven days have been a roller coaster ride for the Ethereum price, but things are looking up. The price has recovered from the latest selloff, and it is now on a slow but steady climb back towards its all-time high.

After crossing the $2,000 mark for the first time, Ethereum price continued to rise, reaching $2,450. Ether price is currently consolidating gains. There is a crucial bullish trend line forming with support at $2,400 on the hourly chart of ETH/USD. (The Chief Analyst at eToro)

Summary of the situation

  • ETH is trading near its $3,000 goal.
  • The next installment is $2,800.
  • The ETH/USD exchange rate has fallen back to the $2,900 level in recent hours.

The Ethereum price forecast for today is bullish, as the market moved up overnight and set a new high at $2,950. Currently, there is a slight downturn as the market prepares to build a base from which to begin recovery. Therefore, we expect Ethereum to reach the $3,000 target in the next 24 hours.

Crypto-currency heat map. Source: Coin360

The cryptocurrency market has moved with mixed results over the past 24 hours. Bitcoin is down 2%, pulling back from the gains it has made in recent days. Meanwhile, Ethereum continues to slowly approach the $3,000 mark with a small gain of 1.35%. The results were mixed for the rest of the altcoins, ranging from a 10% increase for Huobi Token (HT) and Maker (MKR) to a nearly 10% drop for DigiByte (DGB).

ETH/USD opened at $2,948 after another strong bullish close yesterday pushed the market above $2,800. Over the past few hours, ETH/USD began to give back some of its previous gains as the market looks for a base from which to make a final push towards the long-awaited $3,000 target.

Ethereum price movement in the last 24 hours

The price of ETH/USD traded in a range of $2,812 – $2,955, indicating good volatility. Trading volume over the past 24 hours was $28.2 billion, down 8%. The total market capitalization is $333 billion, representing a market dominance of 15.21%.

ETH/USD 4-Hour Chart – The ETH is currently in a slight pullback before a final push towards $3,000

On the 4-hour chart, we can see that the ETH/USD has experienced a pullback in the last few hours, trying to build a base from which it can push towards the $3,000 level.

ETH/USD 4-hour chart. Source: TradingView

Ethereum price prediction: Ethereum reaches $2,950, prepares to break $3,000

Ethereum’s overall price performance continues to show a very strong upward trend. After an unsuccessful bullish move at the beginning of the month, the ETH/USD tested support around $2,000-2,200 several times until the 25th. A higher low was reached in April.

From a low of around $2,200, Ethereum began its rally before breaking through the previous all-time high of $2,646. In the following days, Ethereum’s price movement slowed down, but continued to reach new all-time highs. In late April, the $2,800 level served as strong resistance, leading to a slight consolidation. At the beginning of 1. However, in March, the ETH/USD exchange rate broke through the resistance level and continued to rise.

In the next 24 hours, Ethereum moved closer to the $2,950 mark. Then the ETH/USD began to pull back and prepare for another push higher. It is likely that the previous resistance at $2,800 will be retested as support from which a final push can be made towards the $3,000 main price target, discussed in our previous Ethereum price forecast.

Once the $3,000 price target is reached, we expect a larger multi-day pullback as the current uptrend wave has likely lost most of its momentum after a total gain of about 40%.

Ethereum Price Forecast: Supplement

The price outlook for Ethereum is bullish, as the market has continued to move higher in recent days. After peaking around $2,950 last night, ETH is now pulling back from part of the uptrend, which should lead to a final surge towards the $3,000 in the next 24 hours.

In anticipation of Ethereum’s price rise, don’t forget to read our guides on mining Ethereum, Litecoin and Bitcoin.

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.

This source has been very much helpful in doing our research. Read more about ethereum $100,000 and let us know what you think.

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