Ethereum is Predicted to Reach $ 1,980.80 By May 16, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Ethereum is down -4.03% today against the US Dollar
• Ethereum is currently trading 8.85% below our prediction on May 16, 2023
• Ethereum dropped -5.80% in the last month and is down -23.37% since 1 year ago

ETH price is expected to rise by 9.72% in the next 5 days according to our Ethereum price prediction

is trading at $ 1,805.40 after losing -4.03% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -2.57% in the same time period. ETH performed poorly against BTC today and recorded a -0.33% loss against the world’s largest cryptocurrency.

According to our Ethereum price prediction, ETH is expected to reach a price of $ 1,980.80 by May 16, 2023. This would represent a 9.72% price increase for ETH in the next 5 days.

ETH Price Prediction Chart

Buy/Sell Ethereum

What has been going on with Ethereum in the last 30 days

Ethereum has been displaying a negative trend recently, as the coin lost -5.80% in the last 30-days. The medium-term trend for Ethereum has been bullish, with ETH increasing by 16.87% in the last 3 months. The long-term picture for Ethereum has been negative, as ETH is currently displaying a -23.37% 1-year price change. On this day last year, ETH was trading at $ 2,355.99.

Ethereum reached its all-time high price on Nov 10, 2021, when the price of ETH peaked at $ 4,867.17. The current ETH cycle high is $ 2,136.36, while the cycle low is at $ 897.01. ETH has been displaying low volatility recently – the 1-month volatility of the coin is at 4.39. Ethereum recorded 14 green days in the last 30 days.

Ethereum technical analysis for today — May 11, 2023

The sentiment in the Ethereum markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 1,801.25, $ 1,756.87 and $ 1,714.08, while $ 1,888.42, $ 1,931.21 and $ 1,975.60 are the key resistance levels.

Bearish sentiment for Ethereum

10 indicators are currently signaling a bullish prediction for Ethereum, while 18 indicators are showing a bearish forecast. With 64% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Ethereum.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 52 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Ethereum moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Ethereum is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Ethereum is at 46.69, suggesting that ETH is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Ethereum over the last 50 days. Currently, Ethereum is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the ETH closing price for the last 200 days. ETH is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Ethereum prediction

After considering the above factors, we can conclude that the current forecast for Ethereum price prediction is Bearish. ETH would have to increase by 9.72% to hit our $ 1,980.80 target within the next five days. Moving forward, it will be important to monitor the ETH market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Ethereum price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

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