Ethereum Price Prediction: 2024, 2025, 2030

ETH price prediction: Key highlights

 

1. Primary support and resistance levels

• Based on the weekly chart analysis, the lowest support level for ETH was $1,554.
• On the other hand, the highest resistance level is likely around $5,000.

2. Market sentiment

• The market is seen to be slightly bearish in August 2024.

3. Predictive forecasts

• Our AI/ML predictive algorithms estimate that ETH's average price will rise to $100,000 in 2028 and close to $2 million by 2032.

Gain valuable insights on ETH via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

 

ETH technical analysis: Can the bulls regain dominance? 

 

For ETH, 2024 has been a roller coaster. Amid new developments and regulatory changes, the Ethereum price prediction for 2024 has become a topic of keen interest to investors. The analysis commenced with the coin under bearish claws, driving it to its lowest price floor at $1,554 by mid-August. 

 

After briefly stabilizing, the bulls initiated a stronger rally in mid-October. The uptrend faced a slight pullback at $2,505 in late January. Nevertheless, the decline ceased swiftly at $2,183, and the price moved past this threshold by mid-February. Consecutive bullish candles rose ETH to test the peak resistance at $3,950 in early March. 

 

A test of this level precipitated a corrective drop, pulling the price slightly below $3,551. Nonetheless, this wasn’t the end of bullish worries. The decline was amplified by the broader market's downturn in April. Thus, the price dipped below the critical $3,000 mark to land at $2,884. 

 

Until mid-May, ETH held on to this support base. Remarkably, the coin witnessed a massive uptick in late May after ETH exchange-traded funds (ETFs) were approved. This propelled it to flip $3,551. However, bulls lacked sufficient strength to overcome the peak resistance.

 

Selling pressure mounted, and a similar pattern of declines followed from June. This pessimism arose as prospective spot ETH ETF issuers awaited comments from the Securities and Exchange Commission (SEC) on their S-1 filings. 
 

After retesting the $2,884 support in July, the price pumped to challenge $3,551 mid-month. Notably, ETH was experiencing high buying pressure from U.S. investors. The uptick in price and the substantial accumulation were attributed to the hype around the upcoming ETF launch.

 

The ETFs began trading on July 23. Nevertheless, AMBCrypto reported that ETH dropped the next day. This dip was caused by an overall meltdown across US equities that reportedly wiped out over $1 trillion in value. Furthermore, initial excitement for ETH ETFs quickly faded, leading to a classic sell-the-news scenario.

 

Subsequently, a stronger downturn reinstated $2,884 as resistance, driving ETH to $2,505. At press time, the altcoin was valued at $2,649. AMBCrypto’s analysis revealed that the asset recently broke out of an ascending triangle pattern in a four-hour time frame. 

 

This breakout occurred near a key support level on a rising trendline, a historically significant point where ETH has previously launched substantial rallies. This could potentially help the price rise to $3,000 soon. However, that would necessitate overcoming the current resistance.

 

Moreover, an analyst noted that ETH's price trends post-ETF launch mirrored those of Bitcoin (BTC) after U.S. spot BTC ETFs debuted in January. If this pattern holds, ETH’s drop could precede a potential 90% surge two months after the approval. 

 

This would mean that the price can go as high as $6,500. As the price trajectory evolves, it may encounter significant resistance at $5,000.

 

Yet, this similarity does not ensure the same outcome. Moreover, as many analysts anticipate, ETH could see gains from the expected Federal Reserve rate cuts in September. This would likely uplift all risk assets, including cryptocurrencies. 

 

Meanwhile, AMBCrypto’s observation of the liquidation levels chart showed that long positions were gaining dominance, suggesting near-term price gains. Critical liquidation levels were highlighted at $2,791 and $2,845. 

 

However, navigating beyond the $2,845 to $2,900 range may prove challenging, with a potential price downturn expected. Notwithstanding, if the sell-offs continue and breach the current support, the price can drop to $2,183. 

 

Our models predict that ETH will trade at an average price of $100,000 in the next four years. The next significant milestone for the coin is attaining a valuation of a million dollars, which is likely to happen in 2032. The models predict that the coin might average around $2 million.

 

ETH's 2024 roadmap: Key indicators to watch and trade

• The trading volume recovered modestly from mid-October. Between mid-February and mid-March and lastly, in late May, the volume reached new highs but faltered due to a subsequent price downtick. Notably, the price drop in August attracted substantial buyers, leading to a surge in volume.
• The On-Balance Volume (OBV) moved south until October. It then picked up and continued to rise until March. 
• However, its trajectory reversed, reaching 120.429 million at the time of writing. This indicated a dominant selling pressure.
• The Moving Average Convergence Divergence (MACD) and the signal line dropped below the zero line in September and October, respectively. As October ended, the MACD line rose above the signal line. By the following month, both turned positive.
• Nonetheless, by the end of March, the MACD line began to decline, forming a bearish crossover in late April. After a brief bullish crossover in early June, the MACD line returned to its submissive position. 
• As of the latest update, the MACD line was at 1.34, the signal line at 142.40, and the histogram at -141.06. The former's proximity to the zero line suggested a strengthening downward pressure on the price.