Ethereum Price Prediction as $2,000 Level Comes into Play – Best Time to Buy?
The Ethereum price has risen to $1,885 today, marking a 1% gain in 24 hours and a 4.6% increase in the past week.
ETH’s trajectory has been upwards for several weeks now, with the altcoin also up by 18% in the last 30 days, helped by increasing market-wide bullishness.
Yet as the market moves into a possible bull market next year, what’s especially encouraging about ETH is that it remains 61% down from its all-time high, meaning it has plenty of space for further gains.
Ethererum’s indicators continue to suggest that the altcoin could rise further in the coming days and weeks.
Most bullishly, its 30-day average (yellow) is rising rapidly towards its 200-day average (blue), and when it overtakes the longer term average it could signal another breakout.
Likewise, ETH’s RSI (purple) remains at 70, which suggests that the coin is enjoying good buying pressure yet hasn’t moved into overbought territory.
The coin’s support level (green) provides another bullish sign, in that it has reached higher levels in the past couple of weeks, each of which have held up against dips.
As such, ETH is likely to continue rising over the short- and medium-term, and even if it wobbles a little here and there it’s likely to continue climbing for the next few months.
This is partly because the entire market is due a more bullish phase, with the next Bitcoin halving likely to increase positivity when it arrives in 2024.
Historically, #Bitcoin bear & bull markets have all taken a similar amount of time.
This time around though, it seems that we're ahead of the curve, breaking key levels long before the halving event.
Will we top out earlier too? pic.twitter.com/edcNJ2GKma
— Jelle (@CryptoJelleNL) November 8, 2023
It’s also because ETH itself remains one of
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