Ethereum Price Analysis $2,400 |

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Today’s price action is very volatile, with ETH/USD fluctuating between $1,300 and $2,200. Traders should take a close look at the daily chart, which shows ETH has been in a downtrend since December. The 2-hour chart is very bearish, suggesting prices could drop to $1,250, but $2,000 may be possible in the next few hours.

Ethereum price is traded at $2,400 as it reaches a high for the year. Ethereum price broke $1,700 on March 1st and then fell to $1,350 on March 13th. Ethereum price breached $2,000 on March 21st and then fell to $1,800 on April 4th. Ethereum price fell to $1,600 on April 8th and then reached $2,000 on April 11th. Ethereum price fell to $1,500 on April 17th, which marked a low for the year. Ethereum price is trading at $2,400 as of May 1st, 2018.

We can see a huge price momentum in Ethereum, which is stably hovering at $2,400-2,500 for the past weeks. Looks like a strong support around $2,400 level will be broken and we can see an upward move to the all-time high of $2,800.. Read more about ethereum value and let us know what you think.

Summary of the situation

  • Ethereum price analysis shows a drop in the ETH price from $2,800 to $2,400.
  • Support at $2400 may prevent a further drop to $2000.
  • ETH is becoming an attractive investment for Bitcoin holders.

Despite the annual bitcoin conference held in Miami this weekend, the cryptocurrency market once again failed to show a positive price trend. In fact, the major crypto assets were trading with little momentum, with Ethereum showing a head and shoulders pattern on its 24-hour chart.

Ethereum Price Analysis: Price Overview

ETH has broken through several critical levels, starting with last week’s support line around $2,500. After slow trading over the weekend, the altcoin pioneer managed to break through $2,700 yesterday. Despite the positive price movement, the bears have been strong enough to force the altcoin to pull its price down. At the time of writing, bearish calls are flooding the market, with experts suggesting that a massive price decline is imminent. One of the reasons why the cryptocurrency market is down right now is because bitcoin has dropped from $36,000 to around $33,000. Ethereum is currently trading around $2,530 after finding support at $2,400. Had the 100 simple moving average not been capped, the immediate upward movement could have been even more pronounced. This means that any near-term recovery from the $2400 support line could be delayed.

Ethereum price movement in the last 24 hours

Source: TradingView Ethereum Price Analysis $2,400 | At the time of writing, Ethereum is trading around $2,500 and experiencing negative price movement. As discussed above, the $2,400 support level for Ethereum should provide a much-needed buffer against a continued downtrend. The MACD (Moving Average Convergence Divergence) indicator gives a bearish picture. The MACD indicator is currently below the median line of 0.00, and this fact cannot be ignored. Moreover, the trend momentum indicator has also moved into negative territory, confirming a bearish sentiment. Like most crypto assets in the market right now, Ethereum’s 24-hour chart signals a technical formation that looks more like the continuation of a downward spike than a reversal pattern. Either way, if Ethereum ends the day below $2,000, the crypto-monet will see another price drop. However, a decisive close above $2,800 would negate the bearish forecast.

Ethereum 4-hour chart

Source: TradingView Ethereum Price Analysis $2,400 | According to the 4-hour chart, Ethereum’s relative strength index has slipped into oversold territory, although it hovers around 44. In a sideways move, the bears could continue to push the price of Ethereum lower. However, the bulls could also become more involved if investors take advantage of the low prices. It should be noted that a daily close above the 100 simple moving average is necessary for a normal rally. Ethereum is likely to see a slowdown in price recovery at the 50th simple moving average, which is currently around $2,700. Ethereum faces a daunting task that will only be possible if it settles above the $3,000 mark.

Supplement

The slow trading in the cryptocurrency market is especially interesting because gold is a more reliable asset than bitcoin. Over the past 2 months, more and more investors have turned away from cryptocurrencies and back to traditional assets like gold. As this trend continues, the market will likely see the divergence between the two assets increase. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The price of Ethereum (ETH) has risen by over 5% in the past 24 hours, and has found a new all-time high of $2,400 USD. Ethereum’s price rise came in the wake of several different factors: the hard fork that swayed away from ETH and returned to the original chain, a potential opening of the mainnet which is expected to deflate the Ethereum network, and the bearish market conditions that plagues most cryptocurrencies in the bear market.. Read more about ethereum price prediction 2025 and let us know what you think.

Frequently Asked Questions

What will ethereum be worth in 2030?

Ethereum is the second largest cryptocurrency by market cap, after Bitcoin. It is currently traded at $2,400. If things continue along the same path as last year, then the price of ethereum should reach $3,500 by the end of 2019. This is not to say that Ethereum is a superior currency, because it is not. Bitcoin is the most valuable, reliable and widely used cryptocurrency. In the early days of bitcoin, it was the open source code that created its value as a decentralized digital currency. Its decentralization, at least in theory, meant that anyone could use it, which was the central idea behind the cryptocurrency. Since then, though, developers have been creating applications on top of Ethereum—apps like Storj.

What will ethereum be worth in 2020?

The cryptocurrency market is still in its infancy, with many speculative assets still looking for a long-term use case. For some, the answer is a currency that has the potential to become a global payment system. This is the vision of ethereum, which is an open-source platform. Ethereum uses a decentralized platform for applications that runs on its own blockchain, which is basically a digital ledger of transactions. The platform is designed for the decentralized exchange of value using smart contracts. Ethereum has garnered a lot of interest because of its use for smart contracts, a function that empowers third parties to transact without an intermediary. In a very short time, Ethereum has become the king of blockchain technology, with more investors than bitcoin, yet its price remains largely unknown. Although many people have debated how high ethereum will go, there are big factors that affect its value, such as the size of the market (it is the world’s most important blockchain, after all), the strength of its core development team, and its price relative to bitcoin.

Is ethereum going to rise?

For the past few years, Ethereum has been gaining popularity, while other Cryptocurrencies have been losing value, due to its high market cap. The reason behind this is that Ethereum is a blockchain that is developing a scalable solution for smart contracts. The main advantage of Ethereum is that it is the first distributed application platform that is Turing complete, thus allowing users to create any decentralized applications and smart contracts. The ethereum price has fallen from $420 to $270 in the past few days, and it is currently almost at the $200 mark. There have been a number of theories that cryptocurrencies are losing their value, and the ethereum price collapse is a result.

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Emilia James
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