After a heavy crash in November 2021, Ethereum price fell from its all-time high price of around $4,800 to $2,200. However, looking at the grand scheme of things, professional crypto traders noticed how ETH prices and cryptos, in general, were inflated. Prices needed a breather and an adjustment. This is exactly what happened, as prices started to pick again in Q2 2022. Will we witness another Ethereum 4K price before the end of Q3? In this Ethereum price prediction article, we’re going to analyze Ethereum from a technical and see if this is feasible.
Is Ethereum price up again?
Many cryptocurrency traders feared Ethereum reaching a price below $3,000. However, looking at figure 1, we can see a “zoomed out” chart of Ethereum. We at CryptoTicker always spoke about how ETH prices were inside an uptrend channel. Every time prices reached the bottom support line, prices rebounded. On the other hand, every time ETH prices breached or reached the higher trendline, prices tended to fall and retrace lower.
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Currently, ETH prices are simply retracing back towards the strong average uptrend line of the channel. This comes at a time when Ethereum price reached the upper trendline. Prices are expected to continue adjusting lower towards $2,600 before rebounding higher.
Ethereum Price Prediction – Will Ethereum 4K happen soon?
There is no doubt that Ethereum price should reach 4K again. The question remains “when” for now. In fact, many other analysts predict Ethereum reaching as high as 5K or even 10K in the medium and long term. But for now, we can assess when should ETH return to its 4K price.
Looking at figure 2 below, we can see how ETH managed to form a renewed uptrend after crashing from its all-time high price towards the low of around $2,200. Since then, prices have started a new uptrend.
We expect that price will first reach the low of the channel, then rebound higher to 4K towards the end of the month of May 2022. We advise waiting for further adjustments and buying ETH at support levels. Of course, adequate stop-loss levels should also be taken into account, this way you can limit your losses in case the entire crypto market suffers from bad fundamentals.
Can Ethereum reach 10K?
Seeing the above charts, we can most definitely predict that Ethereum reaching 10K will take a while. There are many milestones that Ethereum prices need to achieve before reaching such a high valuation. Those technical milestones are as follows:
- USD 4,000
- USD 5,000
- USD 7,500
- USD 10,000
For now, we await that Ethereum reaches its first milestone another time, confirming the upcoming bull towards the next one. If the crypto market as a whole fails to enter another strong bullrun before Q3, chances of Ethereum reaching 10K will start to become lower.
Remember: ALWAYS buy any type of crypto on their respective support levels. Buying Ether just because it made the news or because other people are hyping about it is definitely not the way to approach cryptocurrencies. If you want to know more, consider reading this article on how to become a successful trader.
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Source: https://cryptoticker.io/en/can-ethereum-reach-10k-soon-analysis/