Ethereum (ETH) Price Prediction 2023-2030: Will ETH Price Hit $2500 Soon?

• Bullish Ethereum (ETH) price prediction ranges from $1070 to $2900.
• The analyst predicted ETH to hit $2500 and the token traverses the path as predicted.
• The ETH bearish market price prediction for 2023 is $973.

Ethereum blockchain has remained relevant after it entered the crypto and blockchain space. The native token of the Ethereum blockchain is called Ether, denoted with ETH. It uses the Solidify programming language to ensure that activities in its network are efficient and secured. It supports the development of decentralized applications (DApps). In the past 30 days, Ethereum (ETH) has gained 44%, according to CoinGecko data.

Ethereum investors are bullish on the coin since it has had a return on investment (ROI) of 3984 times in the past 7 years. The recent crypto winter in the first half of 2022 led to a dip in the price of ETH after it attained an all-time high (ATH) price of $4891.90 in November 2021. However, Ethereum whales confidence in the project remains bullish with recent developments.

If you are interested in the future of Ethereum (ETH) and want to know the price analysis and price prediction of ETH for 2023, 2024, 2025, 2026, up to 2030, keep reading this Coin Edition article.

Ethereum (ETH) Market Overview

What is Ethereum (ETH)?

Ethereum (ETH) was launched in July 2015 by co-founders Vitalik Buterin, Gavin Wood, Charles Hoskinson, and others. Investors can carry out transactions within the blockchain by paying fees with the Ether (ETH) used to reward Ethereum miners for keeping the blockchain active.

The number of transactions per second (TPS) within the Ethereum blockchain is 30. Ethereum developers are committed to ensuring that Ethereum 2.0 is released soon. This will solve the scalability challenge in the Ethereum blockchain. Once Ethereum 2.0 is released, the transaction per second will be over 10,000. 

The launch of the Ethereum blockchain has enabled creators to earn online and empowers users to interact with over 1000 decentralized applications (Dapps) developed on the Ethereum blockchain. Developers can also build on the blockchain, while users can send and receive ETH from anyone worldwide.

The decentralized nature of the Ethereum blockchain has enabled its users to create accounts without being censored to send, receive, borrow, lend or stream funds from anywhere there is an internet connection. There are over 200 million unique Ethereum addresses presently.

Analysts’ Views On Ethereum

A bitcoin and Ethereum investor, Lark Davis tweeted that he believes that Ethereum will go as high as $10,000 in the next bull run.

Also there is another tweet by an analyst showing that a comprehensive analysis of Ethereum market trends reveals a recurring pattern of similar developments, reminiscent of the 2017 altcoin market rally.

A crypto trader also tweeted that the current technical indicators suggest the possibility of either an upward continuation or the formation of a double bottom pattern prior to the next bullish impulse move.

Although most of the analysts are believing that the bull run will start soon, there is a swing trader with over 700k followers tweeted that the bear run isn’t over yet.

Ethereum (ETH) Current Market Status

The total Ethereum (ETH) supply is infinite, while the circulating supply is 120,457,776 ETH coins. At the time of writing, ETH is trading for $1,921.63, representing a 24-hour increase of 3.45%. The trading volume of Ethereum in the past 24 hours is $9,340,247,636 representing a 43.27% increase.

Some top cryptocurrency exchanges for trading Ethereum (ETH) are Binance, Coinbase, Kucoin, Gate.io, Kraken, Bitfinex, Gemini, and others.

Now that you know what Ethereum is and its current market status, we shall discuss the price analysis of Ethereum (ETH) for 2023.

Ethereum (ETH) Price Analysis 2023

Currently, ETH is ranked in the 2nd position on CoinMarketCap. Will developments and upgrades within the Ethereum blockchain lead to a rise in the price of Ethereum (ETH)? We shall see this in this Coin Edition price analysis 2023 article.

Ethereum (ETH) Price Analysis – Keltner Channel

The Keltner channel is a technical indicator introduced by American grain trader, Chester W. Keltner to gauge the volatility of the market. For this purpose, it has three bands; the Upper band, Middle band (EMA), and lower band. 

The upper band is calculated by adding twice the Average True Range (ATR) to the EMA (middle band), while the lower band is calculated by subtracting twice the ATR from the EMA.

The chart above shows a red rectangle that denotes the expansion and contraction of the Keltner channels. When the bands widen it means that there is going to be more volatility. Or in other words, the prices could drastically drop or increase. 

Additionally, when the price of a cryptocurrency continuously touches the upper or lower band and thereafter touches the opposite band, (which is, say a cryptocurrency continuously touches the upper band and finally touches the lower band, then we could determine that the bullish trend has faded. This applies vice versa as well). This behavior could be seen inside the grey rectangle. 

Currently, ETH is testing the upper band. Since ETH has been testing the upper band for quite some time, we might expect the trend to reverse in the future. There is also the possibility of ETH transitioning into the second half of the Keltner Channel. However, since the Keltner channels are titled upwards, we could expect the prices to increase further.

Ethereum (ETH) Price Analysis- Bollinger Bands 

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). Moreover, the upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. 

The Empirical law also known as the three-sigma rule or the 68-95-99.7 rule states that almost all observed data for a normal distribution will fall within three standard deviations. As such for the normal distribution data set, 68% of data will fall within 1 standard deviation of the mean, while 95% of data for the normal distribution will fall within 2 standard deviations of the mean and 99.7% of data will fall within 3 standard deviations of the mean. 

Hence, when this is applied to the price of ETH, we could expect the coin to abide within the Bollinger bands 95% of the time. 

Moreover, the sections highlighted by red rectangles show how the bands expand and contract. When the bands widen, we could expect more volatility, and when the bands contract, it denotes less volatility. Currently, the bands are expanding, hence, ETH could be awaiting a major fluctuation in prices. 

Moreover, ETH has touched the upper Bollinger Band as such we can say that the coin/token is overbought. It means that many are buying the coin and hence the prices have increased. As such the market could correct the prices and the prices may decrease in the future. Scalpers and day traders should be on the lookout to enter the market in the nick of time to make the most of the opportunity. 

Notably, the Bollinger Band behaves very closely with the Keltner channel. For instance, if you were to use both the Bollinger bands and Keltner channel indicators for a cryptocurrency in unison, you would see that almost most of the time both indicators overlap. However, the only difference between with Bollinger band and the Keltner channel is that the Bollinger bands use Standard Deviation while the Keltner channel uses Average True Range for calculating its bands which are the top and bottom limits. 

Ethereum (ETH) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price, within a selected time frame. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA it is considered bullish and if it’s below the SMA then it is bearish. When considering the red rectangle section on the left of the chart below we can see that when the RSI line is above the Signal. As such ETH is Bullish or gaining value but the second red rectangle shows that the RSI is below the signal. Hence, as per the RSI, it is bearish although the ETH looks like it is consolidating.

To gauge the strength of a cryptocurrency, the RSI compares the gains of the securities against the losses it made in the past. This ratio of gains and losses is then deducted from the 100. 

If the answer is less than 30, then we call that the price of the security is in the oversold region. This means that many are selling the security in the market, and as such the security is undervalued.  Moreover, as per the Supply-demand curve theory, the price is supposed to drop when there is an increase in supply. 

If the answer is more than 70 then the security is overbought as many are buying. Since many want to buy the security the demand increases which intuitively increases the prices.

Additionally, the RSI could be used to determine how strong a trend is. For instance, when a cryptocurrency is bullish or reaching higher highs, then the RSI line also should be making higher highs in unison. If not it means that although the cryptocurrency is on a bullish trend it is losing value and hence a trend reversal could be lurking around the corner.

However, the RSI could also give false alarms for breakouts. Although we may expect, the prices to retrace if it goes to the oversold or overbought region, the prices also can stay in the oversold or overbought region for an extended period. As such, traders should be wary of it and let the market saturate before making vital decisions.

Ethereum (ETH) Price Prediction – Moving Averages

The Exponential Moving averages are quite similar to the simple moving averages (SMA). However, the SMA smoothens down all values whereas the Exponential Moving Average gives more weightage to the current prices.  As such, the MA equation has a greater reference to the present prices which is required in the volatile industry of crypto.

Whenever the price of cryptocurrency is above the 50-day or 200-day MA, or above both we may say that the coin is bullish (red highlighted section). Contrastingly, if the token is below the 50-day or 200-day, or below both, then we could call it bearish (the green highlighted triangle).  

When looking at the green highlighted triangle in the above chart, we can see that ETH broke the 50-day MA. Nonetheless, it could not hold on to its gained position as the bears were too strong. Hence, ETH fell below the 50-day MA. Nonetheless, it tested the 50-day MA after its fall as shown by the red rectangle on the left. 

Thereafter, as the bulls were in charge, ETH was able to break above the 50-day MA and the 200-day MA. Currently, ETH is on a roll trading above both moving averages. In the event, ETH was to decrease it may seek support from the 50-day MA and if the 50-day MA cannot hold then it may resort the assistance from the 200-day MA.

Ethereum (ETH) Price Prediction 2023

When considering the chart above, we can see that ETH has been trading in a rising wedge. Technically, as by the books, ETH is more likely to decrease than to increase in price. Since July 2022, we could that ETH was fluctuating between Support 3 at around $970 and its current price at around $1900. 

If ETH is going to increase, then it could test Resistance 1 at ≈ $2420 first and if the bulls are still in control, then it could break open Resistance 1 and surge to Resistance 2 at  ≈ $2900. In the event, that ETH encounters resistance at Resistance 1 and retraces before surging as shown by the yellow line, then it would present an excellent entry point for those looking to take a long position. 

However, if ETH is dominated by the bears then it may seek assistance from Support 1 at ≈ $1520. If Support 1 does not hold the bears, then ETH may tank to Support 2  at ≈ $1250 and if Support 2 is also breached, then ETH would reach out to Support 3 at $975 for help. Notably, as ETH has 50+% price action, either way, traders should look to seize on the opportunity. 

Ethereum (ETH) Price Prediction – Resistance and Support Levels

The chart above shows the Resistance and Support levels for ETH. When considering the formation of Ethereum, we can see the formation of the head and shoulders pattern. The left shoulder is slightly higher than the right. This is because the left shoulder is touching Resistance 5 while the right shoulder touches Resistance 4. 

We could see that ETH seems to reciprocate its fluctuation pattern in early 2021 just before the left shoulder. If it’s following this exponential increment then we could expect ETH to hit Resistance 5 very soon. 

Ethereum (ETH)  Price Prediction 2024

The Bitcoin supply will be cut in half by 2024. Consequently, we should anticipate a favorable market trend due to user sentiment and investors’ desire to acquire more of the coin. Due to the impact of Bitcoin’s price swings on the value of other cryptocurrencies, it is reasonable to anticipate that ETH will be worth at least $2,534 by 2024.

Ethereum (ETH)  Price Prediction 2025

If most cryptocurrencies can overcome psychological barriers in the aftermath of Bitcoin’s price halving in 2024, we can expect ETH to trade at a premium to its 2024 pricing. As a result, ETH may be worth roughly $4,033 by the end of 2025.

Ethereum (ETH)  Price Prediction 2026

As more and more institutional investors flock to the ETH platform, the cryptocurrency price will likely fall after a prolonged bull run ends in 2026. It would be a significant reversal of the trend, suggesting that the price of ETH may reach $3,665 by 2026, even though the coin has generally depreciated during the same period. 

Ethereum (ETH)  Price Prediction 2027

The halving of Bitcoin in 2028 will likely trigger a bull market. As a result, if investors remain hopeful, the price of ETH may continue to rise and may even breach previously established hurdles. Ethereum (ETH)  may be worth $4,463.

Ethereum (ETH)  Price Prediction 2028

Bitcoin will be halved in 2028, and a bullish run is anticipated before the market settles down in 2027. As a result, ETH’s potential value of $5,329 by 2028’s end is still being determined.

Ethereum (ETH)  Price Prediction 2029

By 2029, the majority of cryptocurrency values may have been stable for nearly a decade, owing to the application of lessons learned to secure the sustained faith of investors in the project. Because of this effect and the additional price increase that occurs a year after Bitcoin’s price halves, the price of ETH might reach $6,203 by 2029.

Ethereum (ETH)  Price Prediction 2030

The cryptocurrency market was stable because early investors held on to their assets so they would take advantage of future price gains. By the end of 2030, the price of Ethereum (ETH)  could be around $7,086, despite the bearish market that followed a market boom in the early years.

Ethereum (ETH)  Price Prediction 2040

According to our long-term Ethereum price estimate, Ethereum prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $15,500 by 2040. If the market becomes bullish, the price of Ethereum may increase beyond our 2040 forecast.

Ethereum (ETH)  Price Prediction 2050

According to our Ethereum forecast, the average price of Ethereum in 2050 might be above $30,283. If more investors are drawn to Ethereum between these years, the price of Ethereum in 2050 could be far higher than our projection.

Conclusion

ETH might reach $2,400 in 2023 and $7,086 by 2030 if investors decide that ETH is a good investment, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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