ETH Ethereum Price Prediction and Forecast: Why is Ethereum Falling?

ETH Ethereum Price Prediction and Forecast: Why is Ethereum Falling?
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For the next 24 hours Price of Ethereum is predicted to be in range of $ 3072 and $ 3391 as per the latest ETH Ethereum Price Prediction and Forecast

3 Analysts

Ethereum Price Prediction Daily: Current Prices

The current price of Ethereum is $3,034.97 which is 8.85% lower than 24 hours ago.

24 Hours Low: $ 3158.17 24 Hours High: $ 3455.34.

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Ethereum Price Prediction Daily: Technicals

$ 3069 (S3)
$ 3218 (R1)
$ 3073 (S3)
$ 3524 (R1)
$ 3073 (S3)
$ 3431 (R1)

ETH Ethereum Price Prediction and Forecast: ETHEREUM CRASH WARNING


Ethereum Price Prediction and Forecast: Will Ethereum Crash?

Ethereum which was almost $4000 a week back is now below $3500. The exchange rate of Ethereum did show some sign of recovery, but it again plunged, and right now it is just above $3400.

What is concerning for Ethereum is declining support and being unable to breach the resistance. Ethereum has a new support price which is just above $3057 indicating the crypto can go below $3000 if it fails to breach the current resistance.

JPMorgan global market strategist recently said that the fair value of Ethereum is around $1500 as the Ethereum network is less attractive.

“We look at the hashrate and the number of unique addresses to try to understand the value for ethereum. We’re struggling to go above $1,500.”

Ethereum: Planning for Q4

ETH Ethereum Price Prediction and Forecast: Will Ethereum go below $3000?

The crypto market which looked healthy last week has suddenly become sluggish with major coins losing big market share. Ethereum which is trading close to $3200 saw $75 million being wiped from its market cap. Ethereum has failed to recover and in the last 24 hours, it has lost over 7% of its value.

The current support for Ethereum as per 3 major platforms is less than $3000 while the resistance is $3400. Judging the current situation Ethereum may not be able to break the resistance but it is likely for it to go below the $3000 mark.

However, as observed in the recent crypto market, the rise in the price of Bitcoin has boosted the price of the rest of the coins. Therefore, Bitcoin which is trading below $45,000 makes recovery, we may see Ethereum again trading closing to $4000.

ETH Ethereum Price Prediction and Forecast: Why was Ethereum Rising and Will it Reach $5000?

Recently the head of the US Securities and Exchange Commission warned that crypto executives have to heed regulations if they want to be around in the coming years. Despite this warning, the major cryptos, especially Bitcoin and Ethereum have seen a surge in the price. Ethereum has risen around 40% to more than $3,900. The reason for the surge in price can be attributed to several events unfolding in recent days:

  1. One of the main reasons for the surge in Ethereum is the rising demand of DeFi and NFTs. As the demand of DeFi and NFTs rises, Ethereum is instrumental in both and with the upcoming upgarde the Ethereum see more surge in price. Added to it, Facebook executive David Marcus last month told Bloomberg that the social network could provide support for NFTs on its digital wallet, known as Novi.
  2. Other reason for surge in Ehthereum is the much anticipated upcoming upgrade. Ethereum is shifting to energy efficient PoS (proof-of-stake) mechanism from an energy-intensive PoW (proof-of-work) model. With this Ethereum’s climate impact is expected to be reduced and is expected to encourage more funds to invest in Ethereum.

ETH Ethereum Price Prediction and Forecast: Cathy Woods Positive about Ethereum Rise

Cathie Wood, the chief executive of Ark Invest puts her confidence behind Ethereum. She said that her confidence in Ethereum has gone up dramatically. She said,

“I’m fascinated with what’s going on in DeFi, which is collapsing the cost of the infrastructure for financial services in a way that I know that the traditional financial industry does not appreciate right now.”

 “Our confidence in ethereum has gone up dramatically as we’ve seen the beginning of this transition from proof-of-work to proof-of-stake.”

On the other hand, Elizabeth Warren took aim at high Ethereum network fees that she says could wipe out small investors. She said,

“In the face of these high, unpredictable fees, small investors could easily get jammed and wiped out entirely.”

ETH Ethereum Price Prediction and Forecast: Ranking among the Cryptocurrencies

Using the stats of total volume sold and purchased, Coindesk ranks the Cryptocurrencies. A list of the 20 Best Cryptocurrencies is created and the list is updated quarterly. The list is based on dollar volume and other data from third-party cryptocurrency exchanges. For last quarter Bitcoin was top of the list. Ethereum on the other hand was able to maintain its 2nd position in the list.

Among all the cryptocurrencies, Ethereum dominates 19.51% of the market. Since its creation in 2013, the prices have risen to almost $4000 as of September 2021.

Ethereum Price Prediction and Forecast: What Changed for Ethereum Since July?

Ethereum and Bitcoin were on the verge of dropping in mid-July. However, the following cryptocurrency companies managed to swing the situation and changed the dynamics of the market. Since that period, the market for Ethereum has been very steady and also in the favour of the bulls. At the end of August, the market saw a 93% rally high in Ethereum and a 76% rally in Bitcoin.

The rally started hitting lows in July during the time of the “The B Word” seminar. Ark’s Cathie Wood, Tesla’s (TSLA) – Elon Musk, and Square’s (SQ) – Jack Dorsey were invited as the speakers at the conference. It will be safe to say that the aforementioned trio precisely saved Bitcoin and other cryptocurrencies, at least for now.

With Bitcoin still seeming to struggle with the $50,000 level, Ethereum shows the potential to grow further in the market. As of today, Ethereum is reportedly hitting its highest rally since May. Investors might think of going big for Ethereum.

Since the conference in July, Ethereum roistered a bullish run. Ethereum rallied in a total of 16 of 18 sessions after the mentioned conference. Ethereum experienced only 0.22% in July despite the decline that day. The following decline handed buyers a mega opportunity to buy more shares. However, Ethereum was seen struggling recently with the $3,300 level and the 61.8% retracement which was near $3,355.

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