Ethereum (ETH) Price Prediction 2023 — Will ETH Hit $2000 Soon?

• Bullish ETH price prediction is $1803.19 to $2103.33.
• Ethereum (ETH) price might also reach $2000 soon.
• Bearish ETH price prediction for 2023 is $1080.87.

In Ethereum (ETH)  price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about ETH to analyze the future movement of the cryptocurrency.

Ethereum (ETH) Current Market Status

What is Ethereum (ETH)?

Ethereum (ETH), known as Ether, is the native cryptocurrency of Ethereum. Ethereum is an open-source blockchain platform that revolutionized the blockchain and DeFi sector by the introduction of smart contracts. This second-generation blockchain was launched in 2015. Its native crypto coin, ether (ETH) was launched through an initial coin offering (ICO) in August 2014. The entire Ethereum network is fueled by Ether (ETH).

The blueprint of the Ethereum network was first released in its whitepaper in 2013 by Ethereum Co-founder Vitalik Buterin.  Since its launch, the blockchain-based software platform functions as a potential launchpad for several other crypto tokens, DeFi protocols, and numerous decentralized applications (dApps). Thus, Ethereum is regarded as the “world computer.” 

The smart contracts are coded programs that execute autonomously with pre-defined conditions on Ethereum. These smart contracts are deployed and executed via the Ethereum Vending Machine (EVM). 

Ethereum will transition to the Proof-of-Stake (PoS) consensus through The Merge upgrade. Initially, the Ethereum network was built on the high energy-intensive proof-of-work (PoW) since its launch. From 2020, the Ethereum developers have begun preparing for the PoW to PoS transition. The Merge upgrade is set for September 15. After this transition, the Ether (ETH) which was an inflationary token will convert into a deflationary token. 

Ethereum (ETH) Price Prediction 2023

Ethereum (ETH) holds the 2nd position on CoinGecko right now. ETH price prediction 2023 is explained below with a daily time frame.

The above chart of Ethereum (ETH) laid out a descending channel pattern. Descending channel also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.

Currently, Ethereum (ETH) is in the range of $1541.72. If the pattern continues, the price of ETH might reach the resistance levels of $1494.45, $1725.14 and $2025.54. If the trend reverses, then the price of ETH may fall to $1228.42, and $1082.38.

Ethereum (ETH) Support and Resistance Levels

The chart below shows the support and resistance levels of Ethereum (ETH).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Ethereum (ETH).

The charts show that Ethereum (ETH) has performed a bullish trend over the past month. If this trend continues, ETH might run along with the bulls overtaking its resistance level at $2103.33.

Accordingly, if the investors turn against crypto, the price of Ethereum (ETH) might plummet to almost $1080.87, a bearish signal.

Ethereum (ETH) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Ethereum (ETH) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of ETH lies above the cutoff line, indicating strong participants in the current trend.

Also, the Moving Average (MA) of Ethereum (ETH) is shown in the chart above. Notably, Ethereum (ETH) price lies above 50 MA (short-term), so it is in an uptrend. Currently, ETH has entered a bearish state. Therefore, there is a possibility of a reversal trend of ETH at any time.

Meanwhile, the relative strength index (RSI) of the ETH is 86.67. This means that Ethereum (ETH) is in an overbought state. However, this means a major price reversal of ETH may occur in the upcoming days. So, traders need to trade carefully. 

Ethereum (ETH) Price Prediction 2023 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Ethereum (ETH). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of Ethereum (ETH). Currently, the ADX of ETH lies in the range of 32.97 and thus, it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of Ethereum (ETH). RVI measures the constant deviation of price changes over a period of time. The RVI of ETH lies above 50, indicating high volatility. In fact, the RSI of Ethereum (ETH) is at 86.67 thus confirming a potential buy signal.

Comparison of ETH with BTC

The below chart shows the price comparison between Bitcoin (BTC), and Ethereum (ETH).

From the above chart, we can interpret that the price action of ETH is similar to BTC. This indicates that when the price of BTC increases or decreases, the price of ETH also increases or decreases respectively.

Ethereum (ETH) Price Prediction 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Ethereum (ETH) between 2024 and 2030.

Ethereum (ETH) Price Prediction 2024

If the declining price action completely slows down in momentum and the trend reverses,  Ethereum (ETH) might probably attain $2500 by 2024.

Ethereum (ETH) Price Prediction 2025

With several upgrades in the network, Ethereum (ETH) might enter a bullish trajectory. If the coin grabs the attention of major investors, ETH might rally to hit $3200 by 2025. 

Ethereum (ETH) Price Prediction 2026

If Ethereum (ETH) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, ETH would rally to hit $3900.

Ethereum (ETH) Price Prediction 2027

If Ethereum (ETH) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, ETH would rally to hit $4500.

Ethereum (ETH) Price Prediction 2028

If Ethereum (ETH) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, ETH would rally to hit $5300.

Ethereum (ETH) Price Prediction 2029

Ethereum (ETH) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, ETH would hit $6500 in 2029.

Ethereum (ETH) Price Prediction 2030

If investors flock in and continue to place their bets on Ethereum (ETH), it would witness major spikes. ETH might hit $7700 by 2030.

Conclusion

With continuous improvements in the Ethereum network, we can say that 2023 is a good year for ETH. For this reason, the bullish price prediction of Ethereum (ETH) in 2023 is $2103.33. On the other hand, the bearish price prediction of Ethereum (ETH) for 2023 is $1080.87.

Furthermore, with the advancements and upgrades to the Ethereum ecosystem, the performance of ETH would help to reach above its current all-time high (ATH) of $4,878.26 very soon. But, it might also reach $2000 if the investors believe that ETH is a good investment in 2023.

FAQ

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.