Ethereum Price Prediction 2022, 2023, 2024 - Will ETH Price Go Up?

Ethereum Price Prediction

Ethereum is the second-largest crypto asset by market capitalization. Not surprisingly, it is closely watched by existing and potential investors.

In this article, we will present the price forecasts coming from different experts. Beyond these forecasts, we will dive into Ethereum charts and the ETH price prediction indicators.

Let’s take a brief look at the asset details before we jump to the Ethereum price predictions.

What is Ethereum?

Ethereum is an open-source platform that utilizes blockchain technology. It was created in 2013 specifically for executing smart contracts on the blockchain. Being a pioneer in introducing smart contracts capabilities, Ethereum became the core of Web3.

Technology Behind Ethereum

Unlike first-generation blockchains such as Bitcoin, Ethereum is programmable. The programs that run on the Ethereum blockchain are called “smart contracts”. Each smart contract is a collection of code residing at a specific address on the blockchain. When the predetermined conditions written into the code are met, a smart contract is automatically executed.

The smart contracts technology contributed to the development of decentralized applications (dApps) and stimulated the growth of the entire decentralized finance industry (DeFi).

A distributed computer called the EVM (Ethereum Virtual Machine) is responsible for executing smart contracts. An EVM is capable of processing the most complex operations programmed into smart contracts.

The Ethereum Framework

According to Vitalik Buterin, the founder of Ethereum, the project is a new Internet, with enormous possibilities and unlimited potential.

Any qualified programmer can create his or her own application in the Ethereum network. The new network can be programmed to work according to a specific algorithm, thanks to smart contracts. And the system guarantees protection from crashes, intruders, censorship, and interference from centralized regulators.

As a result, Ethereum can be deployed in a wide range of human activities. For example, it allows:

• Running smart contracts of increased complexity to manage supply chain;
• Creating any type of application (NFT games, utility programs, etc.);
• Digitalizing physical assets (gold, securities, precious stones, industrial goods);
• Managing customer identification and document authentication services;
• Organizing decentralized trading platforms;

And performing a great many other functions.

Ethereum 2.0

Ethereum 2.0 is a big update designed to increase the scalability of the Ethereum blockchain through global changes to its architecture. The update was called “The Merge”, which referred to the merge of the original Ethereum 1.0 mainnet and the new Beacon chain’s PoS system. Essentially that means that the Ethereum blockchain shifted from the PoW (proof-of-work) to PoS (proof-of-stake) consensus mechanism which is more energy-efficient.

The update happened in a two-step process. It started with the successful update called “Bellatrix” on September 6, 2022. The Merge itself occurred on September 15, 2022. The transition to the new consensus mechanism went smoothly, despite the controversy and conflicting opinions from members of the crypto community.

What Ethereum 2.0 Will Change

After the transition to Proof-of-Stake (PoS), the Ethereum network miners were replaced by validators. Immediately after the Merge, the complexity and hash rate of mining dropped to zero. No one is mining ETH coins anymore. At the same time, the energy consumption required to secure the network dropped by 99.95%.

Ethereum's roadmap also includes the implementation of a technology called “sharding”. It is intended to increase the scalability of the blockchain. This upgrade will allow the Ethereum network to grow according to the workload, despite a significant increase in the size of the registry. The update is scheduled for 2023.

The next step after sharding is the deployment of the new Ethereum WebAssembly Virtual Machine (eWASM).  It will allow different programming languages to be used to write smart contracts. eWasm is designed to make Ethereum more efficient and eventually will replace Ethereum Virtual Machine (EVM).

Ethereum Technical and Fundamental Analysis

As of October 28, 2022, Ethereum cryptocurrency ranks second by capitalization ($183 billion) only behind Bitcoin. The value of Ethereum is about $1,500 per coin. Since November 2021, ETH has been following a steady bearish trend, just like the rest of the crypto assets.

According to the technical analysis sperformed by the TradingView platform experts, most indicators show a neutral-positive trend for Ether in the medium term. The main resistance points will be at the levels of $1672.40, $2016.20, and $2586.80. At the same time, both local drops and short-term growth of ETH price beyond these values are possible. A negative forecast of the Etherium exchange rate for 2022 assumes a drop in the price below $1,100. Such a decline in the value of ETH will radically change the balance of power —  in this case, the bearish scenario will prevail.

In terms of fundamental analysis, Ethereum is the strongest asset on the market, with a huge number of professional developers behind it. The utility of Ethereum has a significant impact on the price of the ETH coin. Any transactions made on decentralized finance (DeFi) protocols, decentralized exchanges (DEX), derivatives, assets, and payment solutions built on Ethereum require ETH fees. In addition, the Ethereum DeFi ecosystem is dynamic and diverse, with the network accounting for over 55% of DeFi's total TVL segment ($31.23 billion).

However, Ethereum’s market share is gradually being absorbed by more modern blockchains. The transition to PoS, introduction of sharding, and further modernization of the network can possibly make things better for Ethereum. Although we saw a momentary drop in price after "The Merge" event, in the long run the network upgrade will make the ETH coin deflationary. The inflation rate of the coin has dropped by about 90%, as fewer coins are created and more — burnt. And this fact, coupled with the continued widespread adoption of cryptocurrencies, will favorably affect the price of Ethereum.

Ethereum Historical Price Performance

Ethereum reached its all-time high in November 2021, when the value of the cryptocurrency reached almost $5,000. However, following the crypto market's downward trend, the value of ETH started decreasing at the end of 2021 and plunged to $3,000 by January 9, 2022.

Source: investing.com

Ethereum rebounded in March and the first half of April 2022, being worth about $3500. It reached such levels amid increased investor enthusiasm ahead of “The Merge” update.

However, by early June, the value of the coin was just above $2000, and in the middle of the month, the rate of ETH collapsed below $900.

By mid-August, ETH managed to briefly reach the $2,000 level, after which it gradually rolled back to around $1,500. According to Mads Eberhardt, a cryptocurrency analyst at Dutch bank Saxo, the anticipation of “The Merge” caused ETH cryptocurrency prices to rise over the summer. He also previously called “The Merge” one of the most important events in cryptocurrency history.

As September 15 was approaching (the date of "The Merge"), the price of ETH crawled to $1,779 on September 12. But the day before and after the update, Ethereum's price showed a drop, eventually falling to about $1,200.

As of this writing on October 28, ETH is trading around $1,500 amid a local rebound in the entire cryptocurrency market.

Experts Share Their Thoughts on Ethereum Price Future

Let’s take a look at some Ethereum price predictions as of November 2022. Keep in mind though that any forecasts may turn out to be wrong.

According to the short-term price prediction made by CodeCodex, the price of Ethereum will drop to $ 1,515.05

At the time of writing, TradingView demonstrated a positive sentiment for the next week, and a neutral sentiment for the next month. The predictions are based on the most popular technical indicators. For a real-time update of the sentiment, click here.

Yearly Ethereum Price Prediction - 2022 to 2030

According to the experts from Changelly.com, Priceprediction.net, and Technewsleader.com, the price of ETH should show a steady growth year by year and by 2030 could reach the mark of 34,375.56 dollars.

Ethereum Price Prediction 2022

According to predictions on the websites Changelly.com, Priceprediction.net, Technewsleader.com the next ETH token price in 2022 will reach the maximum of $1836.73:

Ethereum Price Prediction 2023

In 2023, as the experts from Changelly.com, Priceprediction.net, Technewsleader.com predict, ETH might be as high as $2970:

Ethereum Price Prediction 2024

Going further to 2024, Ethereum is expected to grow up to $3818.44, according to Changelly.com, Priceprediction.net, and Technewsleader.com:

Ethereum Price Prediction 2025

2025 ETH price prediction by Changelly.com, Priceprediction.net, and Technewsleader.com still stay positive. The experts predict that ETH may increase almost twice compared with the 2024 price:

Ethereum Price Prediction 2026

In 2026, according to predictions on the websites Changelly.com, Priceprediction.net, and Technewsleader.com, ETH token price will be:

ETH Coin Price Prediction 2027

The year 2027 is expected to be very fruitful for investors. According to predictions on the websites Changelly.com, Priceprediction.net, and Technewsleader.com, ETH maximum price will increase ten times compared to today’s price:

Ethereum Crypto Price Prediction 2028

The predictions for 2028 prices are as follows, according to predictions on the websites Changelly.com, Priceprediction.net, and Technewsleader.com:

Ethereum Coin Price Prediction 2029

In 2029 ETH price could increase 12-fold, as Changelly.com, Priceprediction.net, and Technewsleader.com think:

Ethereum Price Prediction 2030

According to predictions on the websites Changelly.com, Priceprediction.net, Technewsleader.com the next ETH token price in 2030 will be:

How to Read and Predict Ethereum Price Movements?

The synergy of technical analysis of price charts, fundamental analysis of the asset, and sentiment analysis of market players is crucial for predicting ETH future price movements. In order to make informed decisions about when it is best to buy, sell, or hold cryptocurrency, traders need to conduct all the above-mentioned types of analysis.

Ethereum Price Prediction Indicators

Traders use technical analysis to predict Ethereum price movements on short- and medium-term timeframes. Such analysis includes the study of price patterns in the past. In order to identify these patterns, investors analyze the price chart with the use of technical indicators, the number of which is endless. They can vary from a simple moving average to the most complex set of algorithms. Here are the most widely used indicators:

• Moving Average, MA. This indicator displays the average of n past values up to the current moment;
• Exponential Moving Average, EMA. It gives more weight to the most "recent" values, but does not discard old values completely;
• Rate of Change, RoC. Is a momentum-based technical indicator that measures the percentage change in price between the current price and the price a certain number of periods ago.
• Relative Strength Index, RSI. Is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

How to Read Ethereum Charts and Predict Price Movements?

The main tools for traders are various charts and graphs representing the dynamics of parameters determined by both price and volume.

The most popular tool among professionals is the "Japanese candlestick chart". It contains more information than a regular line chart. Besides displaying the change in price based on the closing market price, the candlestick chart also shows the price movements over a certain period of time. Each candlestick has information about the highest, lowest, opening, and closing prices.

The candlestick consists of three parts: the upper tail, the lower tail, and the body. The upper tail shows the highest price and the lower tail shows the lowest price within the selected period of time. The body is usually colored green or red. The color depends on whether the trend was "bullish" or "bearish", i.e. whether the closing price was higher than the opening price (green, bullish) or lower (red, bearish) during the selected time.

Different candlestick shapes and their combinations give crypto-traders information about trends and their changes. There are about ten types of candlestick patterns. Below you can find the information about the basic ones.

Bullish and Bearish Price Prediction Patterns

The Hammer pattern is a bullish pattern. It looks like a short body with a lower tail. That is, the candle shows that the price went down strongly, but in the end, the price consolidated above the opening price — the buying mood is dominant.

Another bullish pattern is the Inverse Hammer, which implies that buyers control the trend. That is, the candle shows that the price rose strongly, but then it returned to a small plus by the close —  the buying sentiment is testing the upper positions.

Bearish candlestick patterns are also represented by the Hanging man and the shooting star. The Hanging Man has the same shape as the hammer, but it can be found at the end of an uptrend. The price came down hard but locked in near the opening mark. This means that the buyers managed to partially and temporarily increase the price of the cryptocurrency, although the overall result of the candle is negative.

In a Shooting star pattern, the price went well up, but came back down and closed near the opening. It may show that buyers are running out of strength and the cryptocurrency will start selling.

You can also learn more about the basic patterns from our article.

What Affects the Price of Ethereum?

Asset prices in the cryptocurrency market are still quite volatile and Ethereum is no exception. To avoid potential losses, it is important to understand what impacts the rate of ETH. Among the main factors affecting ETH in 2022 are the following:

• The value of Bitcoin as the first and most influential cryptocurrency;
• The political environment;
• Cryptocurrency regulations;
• Market manipulation by "whales";
• The speed of cryptocurrency adoption;
• Ethereum network upgrades and security;
• Macroeconomics;
• Internal economic factors (coin inflation or deflation, average transaction parameter per day, size of fees).

How Should You Treat Ethereum Price Predictions?

It is necessary to understand that no forecast can give 100% correct information. Due to the fact that the cryptocurrency market is young and has a low capitalization compared to the stock market, it is characterized by high volatility and lack of regulatory mechanisms, etc.

In addition, there are often whale manipulators in the cryptocurrency market, whose actions can be predicted probably only by insiders. And the political environment, government bans, or simple statements about the imminent introduction of bans have already repeatedly caused the market to fall, due to which many forecasts have never come true.

All these factors are the reason why the forecast accuracy of 60-70% is already considered quite high in the cryptocurrency market. It is also worth noting that due to the specifics of the cryptocurrency market, even a forecast from professional experts can not be taken as a direct guide to action.

Conclusion

Ethereum (ETH) is a pioneer in the smart contract platform market and has gathered a huge ecosystem of hundreds of projects and thousands of developers around it thanks to its innovative nature and underlying principles. Because of this, the project has strong fundamentals, which attract experienced investors. This allows the asset to rank second in capitalization and first in Total Value Locked. Thus, the project has everything it needs to succeed in the future.

But before you invest, we strongly recommend that you do as much research as possible.

Disclaimer

This communication is intended as strictly informational, and nothing herein constitutes an offer or a recommendation to buy, sell, or retain any specific product, security or investment, or to utilise or refrain from utilising any particular service. The use of the products and services referred to herein may be subject to certain limitations in specific jurisdictions. This communication does not constitute and shall under no circumstances be deemed to constitute investment advice. This communication is not intended to constitute a public offering of securities within the meaning of any applicable legislation.

FAQ

Is Ethereum a Good Investment?

Ethereum is one of the most well-known and fundamentally strong cryptocurrencies on the market today. It also has much growth potential, so it's considered to be a great cryptocurrency to buy in 2022.

What Price Will Ethereum Reach in 2023?

Experts at Priceprediction assume that the price of ETH will be at least $2532.85 in 2023. And the token's maximum price could exceed $2603.14.

Should I Invest in Ethereum?

Ethereum is the blue chip of cryptocurrencies, second only to Bitcoin in terms of market capitalization. According to the Ethereum price forecast from the experts, ETH will show stable growth, primarily due to the increasing scalability brought by the transition to Ethereum 2.0, as well as the introduction of the deflationary model. However, whether or not to invest in this asset is up to you.

What Will Ethereum Be Worth in 5 Years?

Experts at Priceprediction suggest that the Ethereum price in 5 years will be at least $11 517.82.