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As Ethereum broke through $2,700, Bitcoin enthusiasts are predicting a breakout for Ethereum later today. Ethereum’s price has increased by nearly 50% in the last week, making it the third most popular cryptocurrency behind Bitcoin and Ripple. Ethereum has started to gain traction with enterprise companies, including American Express, which has partnered with the Enterprise Ethereum Alliance to experiment with blockchain architecture. “Ethereum price prediction: Ethereum reaches $2,800, breakout later today?”
The oldest and most established crypto coin in the world, Ethereum is still holding strong at $2,300, with many speculating that Ethereum will reach $2,800 later today. While some believe Ethereum will continue its slow growth to reach $3,500 by mid-2019, others think Ethereum will reach $4,000 within the next few months.
Summary of the situation
- ETH tested the $2,700 support again.
- The next resistance is at the $2800 level.
- Previous support at $2,550.
The Ethereum price outlook for today is bullish as the market continues to move higher after retesting the $2,700 support level overnight. Therefore, we should see ETH/USD break through the $2,800 level in the coming hours and continue towards $3,000.
Heatmap for crypto-currencies. Source: Coin360
The cryptocurrency market is trading on the positive side today, as most altcoins have risen significantly over the past 24 hours. Binance Coin (BNB) and Cardano (ADA) are up 5-6%, as they are among the best players at the moment. Meanwhile, market leader bitcoin remains flat with a small loss of nearly 1%.
ETH/USD opened at $2,751 after several days of bullishness that led to a price move from $2,200 to $2,700. Ethereum prices paused overnight and retested previous resistance at $2,700 as support, before trading higher in recent hours. Overall, this price action should see Ethereum break above the $2,800 level later today and move further towards the next major price target of $3,000.
Ethereum price movement in the last 24 hours
The price of ETH/USD is hovering between $2,670 – $2,797, indicating moderate volatility over the past 24 hours. Trading volume increased slightly by 3% to $33.2 billion. Meanwhile, the cryptocurrency has a total market capitalization of $322.3 billion, putting it in second place overall with a market dominance of 15.44%.
4-hour chart ETH/USD – ETH breaks through the $2,700 barrier and keeps rising
On the 4-hour chart, we see that the ETH moved higher for most of the day, suggesting that the $2800 level is likely to be breached tomorrow.
4 hour ETH/USD chart. Source: TradingView
The price of Ethereum has performed well in the past week. After establishing support at $2,170, Ethereum began trading higher in the following days. Some resistance was found at $2,550. However, after some consolidation, there was another push higher before finding resistance below the $2,700 level, as mentioned in our previous Ethereum price forecast.
Yesterday, ETH/USD broke above $2,700 after initially rejecting further rises. After a strong push upwards, resistance at $2700 was retested as support. From there, the ETH/USD began to rise again this morning. After several strong rising 4-hour candlestick closes, we see Ethereum price trading just below the next price target at $2,800.
Therefore, we expect Ethereum to make a breakout to the upside by the end of the day. But since all the multi-day bullish momentum has resulted in a rise of about 30%, one can assume that the market is now exhausted. This should lead to a serious setback in the coming days.
The first major support area that Ethereum could return to is in the $2,550 to $2,600 price range. If this support area does not hold, Ethereum will find support and set a higher swing low at $2,400. Given the overall volatility of the past few weeks, a pullback to the $2400 support level seems like a more realistic scenario. From here, ETH/USD is likely to head towards the long-awaited $3,000 price target.
Ethereum Price Forecast: Supplement
Price expectations for Ethereum are bullish as the market continues to move higher after retesting the $2,700 level as support. As such, we expect ETH to break above $2,800 today and move further towards the next major price target of $3,000.
In anticipation of further Ethereum price movements, read our guide on Ethereum mining. For more information on the market leader in Bitcoin, read our articles on Bitcoin ETFs and mining pools.
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Frequently Asked Questions
Will ethereum reach 1000 again?
There has been a lot of buzz about ethereum in the last few months. Its price has been skyrocketing in the past few months and ethereum mining is on the rise . There have been many ethereum price predictions 1000, 2000, 5000, 10000 and even $1,000,000 per eth. Will ethereum crash or will it reach $1,000,000 per ethereum. At the time of writing, ethereum is trading at $291, with a market cap of $29.9 billion. That’s still far below the all-time high of $1,337 it reached in December. But it’s also an all-time high for ethereum. That means it’s the perfect time to ask whether or not ethereum will reach $1000 again in the future. The short answer is: it probably will, but it might not happen for a while. The long answer is a little more complex.
Will ethereum ever hit 10000?
It’s no secret that the price of ethereum has dropped significantly in 2018. But what does the future hold for the second most popular cryptocurrency? While there’s no way to know for sure, a number of ethereum price predictions for 2019 and beyond are pointing to a substantial rebound for the cryptocurrency. (Some even see ethereum priced at $10,000 in the long-term.) As we know, ethereum has been the cryptocurrency king for a long time, and it is of no surprise due to its exceptional technology and use cases. At the beginning of 2017 ethereum was trading around $8, and it reached a high of $400 before the end of the year. The price has been in a decline for most of this year, and many people wonder if the price will ever make it to $100.
What will ethereum be worth in 2030?
With the recent rise in the price of ethereum, the question on everybody’s mind is what will ethereum be worth in 2030? While we don’t know the exact answer to this question, we can predict it with the help of smart contracts. The price of ethereum is determined by the intersection of supply and demand, so to predict what ethereum will be worth in 2030, we need to look at what the supply of ethereum will be in 2030, as well as what the demand will be in 2030. While it’s impossible to predict the future, one thing is for sure: the value of ethereum will continue to rise over the next decade. That may seem like a bold prediction, but one look at the impressive growth it has already seen over the past year should be enough to convince anyone that ethereum is a budding technological phenomenon that can only get better with time. In fact, the possibility of its value rising so much that it overtakes bitcoin in value is very much on the table.
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