Amid the ongoing uncertainty in the crypto market, the Ethereum price continues to lose momentum. Notably, the ETH price continues hovering around the $2600 mark and has repeatedly failed to break out of its resistance level, suggesting a strong selling point at that level.
Are you one of many who are planning on investing in this digital asset but are concerned about its long-term prospects? Read our latest article on the Ethereum token to uncover the possible mysteries!
The price of Ethereum continues recording a bearish action by losing 0.73% in 24 hours and 1.84% over the past seven days. Furthermore, the largest altcoin by market cap has dropped 19.16% in the last 30 days and has a YTD return of -20.16%, highlighting rising negative sentiment.
The Moving Average Convergence Divergence (MACD) records a rising green histogram in the daily time frame with its averages recording a similar price trend. This suggests an increase in the positive influence of the altcoin in the crypto market.
However, the EMA 50/200-day displays a Death Cross in the Ethereum price chart. With this, the ETH price hints at an increasing uncertainty in the upcoming time.
Suppose, a bullish trend reversal occurs, in that case, the price of Ethereum could retest its resistance level of $2,870. Moreover, if the bullish sentiment sustains, this could set the stage for this altcoin to head toward its upper price target of $3,272 this month.
On the contrary, a sustained bearish action could pull the price toward its support level of $2,530. Furthermore, if the bearish sentiment intensifies, this may pull the price of ETH crypto token toward its crucial low of $2,175 in the upcoming time.
Are you wondering if the largest altcoin by market capitalization will achieve the milestone price of $5000 this year? Read our latest Ethereum Price Prediction today to explore the long-term prospects!
If the market favors the bulls, the ETH crypto coin could range between $2,917 and $5,925 this year.
Considering the present market trends, the largest altcoin could achieve the $10000 mark by the year 2028.
With increased adoption and rising bullish sentiment, the ETH coin price could reach a maximum trading value of approximately $16,000 during the year 2030.
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