ETH/USD Technical Analysis, ETH/USD price forecast

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ETH/USD - is the second most popular instrument in the cryptocurrency market. Ethereum is a platform for developing decentralized applications powered by its blockchain. ETH’s share is more than 15% of the overall market capitalization.

Traders Union offers ETH/USD technical analysis provided by our analyst Anton Kharitonov. Additionally, on this page, you can access indicator-based weekly and monthly price forecasts, as well as an ETH/USD online Forex chart to keep track of the current trend.

Disclaimer:

This article does not contain recommendations for buying or selling currencies. The ETH/USD forecast and signals are made on the basis of independent assessments as of the moment. Please consider the risks when making an investment decision.

Disclaimer

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ETH/USD technical analysis and signals

Traders Union offers ETH/USD technical analysis and signals, presented by the leading Forex analyst Anton Kharitonov, as well as other experienced analysts. The ETH/USD analysis is based on a combination of current fundamental data, news, and technical analysis, providing traders and investors with valuable and well-informed insights.

ETH/USD is declining amid liquidation of long positions

01.05.2024
After breaking the $3,300 resistance level, Ethereum bulls tested the $3,354 mark. However, since Bitcoin didn't make much progress, people started selling Ethereum at this level, which made its price drop to $2,825 support. The strengthening of the U.S. dollar and the development of Bitcoin correction may contribute to further declines in ETH/USD, where the nearest $2,750 support level could be tested. Breaking $3,025 resistance will lead to a growth toward $3,075-3,100, where bearish activity could resume.

ETH/USD is declining amid liquidation of long positions

Indicator-based ETH/USD signals

ETH/USD indicator-based signals are prepared automatically on the basis of technical analysis of moving averages and indicators for each timeframe (interval) separately. Select the timeframe you need to find out ETH/USD signals.

NOTE!

Signals may differ on different timeframes. If you want to hold the ETH/USD for longer than 1 week/1 month, it is best to use the signals on daily and weekly timeframes. Timeframes from 5 minutes to 1 hour are best suitable for short-term transactions.

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ETH/USD chart online

ETH/USD Buy and Sell signals

Methodology

The following tools and instruments were used for making the prediction:

Basic instruments of technical analysis. The forecast relies on basic technical indicators. The analysis was performed mostly on medium and long-term time frames for more accurate results.


Statistical tools that allow experts to evaluate the probability of an event that may influence the prices of cryptocurrencies.


Individual features of a cryptocurrency startup and its competitiveness: number of tokens in free circulation, restriction of emission, potential usefulness of the startup for the society, roadmap and development plans of the startup, potential vulnerability of the startup’s blockchain, examples of hacks, failures in the entire history of cryptocurrency existence, capitalization dynamics compared to key competitors, share of major coin holders and other subjective factors.

Note:

This price prediction is based on current information and historical data. Strong fundamental factors capable of radically changing the overall situation in the cryptocurrency markets, impacting the prices of certain cryptocurrencies and subsequently changing the price trend, may appear in the future. The price predictions are updated regularly based on the latest data.

This article is created for informational purposes only and does not constitute investment advice. Be aware of the high volatility of cryptocurrencies and consider these risks when making investment decisions.

FAQs

What is the ETH price prediction for USD?

Based on technical analysis indicators, the price prediction for the M30 time frame is Strong Sell, for H1 - Strong Sell.

Is Ethereum bullish or bearish?

Analysts believe that the entire cryptocurrency market will grow in the long term. With its limited emission, Ethereum price will rise as well.

Can Ethereum reach $50,000?

Theoretically, it is possible, but the likelihood of that happening in the next few years is very low, as that would require a 20x growth of overall market capitalization.

Should I buy Ethereum 2024?

Yes. It is a stable coin, one of the market leaders. It is suitable for portfolio diversification.

Team that worked on the article

Ivan Andriyenko
Author at Traders Union

Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.

Rinat Gismatullin
Author and business expert

Rinat Gismatullin is an entrepreneur and a business expert with 9 years of experience in trading. He focuses on long-term investing, but also uses intraday trading. He is a private consultant on investing in digital assets and personal finance. Rinat holds two degrees in Economy and Linguistics.

Mirjan Hipolito
Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).