Traders Make Ethereum Price Prediction of $3k, Whilst AiDoge and YPredict Are The Next Big AI Crypto Coins
In April, Ethereum (ETH) saw a rise in value due to the Shapella upgrade, peaking at around $1,985. However, in recent days, ETH has experienced price fluctuations, and some newer cryptocurrencies have outperformed it. Despite this, traders make Ethereum price prediction of $3K.
Traders Make Ethereum Price Prediction of $3K
According to Yahsu Gola, a crypto analyst, Ethereum has a strong possibility of reaching $3,000 due to a few reasons. Gola’s technical analysis of Ethereum’s chart reveals a significant support/resistance level at around $1,840, which is currently where ETH’s price stands. If Ethereum manages to hold above this support level, Gola predicts that the next upward move could potentially drive the price to a range of $3,350 to $3,900.
Gola has also observed on-chain data indicating that crypto whales are accumulating ETH. In particular, Ethereum wallets holding 1 – 10 million ETH have increased their holdings by 0.4%, while wallets holding 10 – 100 million ETH have increased their holdings by 0.5%. This suggests that sophisticated investors are betting on Ethereum’s future potential.
Bluntz, another crypto analyst and trader, believes that many investors are overlooking the significance of Ethereum’s recent Shanghai upgrade. He points out that the upgrade allows staked ETH to be unlocked, which could act as a major catalyst for encouraging more investors to buy and hold Ethereum.
Bluntz goes on to argue that Ethereum’s meteoric rise may just be starting, and $3,000 could be only the beginning. He compares Ethereum’s future potential to Bitcoin’s price trajectory in 2019, when BTC tripled in value within a few months.
ETH Market Price Analysis
At the time of writing, Ethereum (ETH) is trading at $1,843.27 with a 24-hour trading volume of $9,895,183,964. This reflects a 1.13% decline