In the past 2 days, most cryptocurrencies adjusted in prices, losing on average around 6%. Ethereum prices also had their fair share of a decrease, plunging by more than 7%. This led to ETH prices dropping below $2,000 for the first time. Is the uptrend over? What will happen to Ethereum prices next? Let’s analyze in this Ethereum price prediction article.
Why are Cryptos Down lately?
The entire crypto market moved lower in the past 24 hours as Bitcoin breached its 30K price lower. Ethereum and other altcoins followed soon after, as they fell below their support prices. However, this drop comes after an extensive uptrend that drove Bitcoin and altcoins higher by more than 30% within 1 month. After such price increases came the adjustment today.
What happened to Ethereum Coin?
In our previous Ethereum price prediction article, we highlighted how ETH prices were bound for a price adjustment. In figure 2 below, we see how prices played out exactly as how we predicted. Ethereum price crashed from the high of $2,115 and reached the current price of $1,950.
Ethereum Price Prediction: Will Ethereum go up again?
Since Ethereum adjusted simply as part of a price breather, we expect prices to go back up towards $2,000. If no negative fundamentals occur, Ethereum should briefly consolidate before going back above $2,000. In fact, many analysts predict price per ETH of around $3,000 by the end of 2023. However, the next stop for Ethereum is around $2,300.
Where to Buy Ethereum Coin?
There are currently many good exchanges that offer to trade and hold Ethereum Coin. Here’s a list of known exchanges that are currently in good standing:
On the other hand, it is always safer to hold your own coins in your own offline wallet. We suggest using a Ledger or a Trezor wallet.
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Source: https://cryptoticker.io/en/ethereum-slips-below-2000-is-this-the-end-of-the-uptrend/