Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: Adam Gil on November 30, 2022, 11:27:21 AM
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Ethereum Price showed a strong performance during times of bearish and crash market conditions and maintained $1000 as a support level. Therefore, it was thought that the price would soon re-initiate a significant upward trend. It is expected to be able to surpass $1600 (crypto expert Coinpedia analysis) within the next few months.
How Much Will Ethereum (ETH) Prices rise?
The number of active traders on the market has risen dramatically, indicating increasing demand for buying and selling that will result in an explosive price rise, as it has done before.
In addition the Ethereum Whale activity surpassed new heights and was the 5th highest in 2022. The number of transactions has been increasing since the FTX failure this month, where as other coins where effected by FTX fall very badly. In light of the above data and the current market conditions Ethereum's price could gain another over 30% and rise to close to $1700 within the next few days.
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Looking at the market Trends over times, you might have observed that the entire crypto market is dominated by Bitcoin; and if Bitcoin does not maintain some stability for some given period, Ethereum will not make any significant movement. it very obvious that whether there are high numbers of new users or no, there can't be much uptrend if Bitcoin is not stable to sustain most altcoins pump. In my opinion, within the next months, Ethereum uptrends to any price level depends on BTC dominance.
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If Ethereum sticks to steady rise in traders and investors, we can expect 2023 to initiate on a bullish note. I don't think it will surge to 30% unless there is an really good crypto rise. Considering the current crypto winter and few bankcrupty news like FTX, BlockFi it is hard to say anything.
After analysing the price predictions data from Coinpedia, I would say the price of ETH could end the trade for 2023 at $1417.7103. But again nothing is permanent.