Ethereum price prediction

On January 20, 2023, the price of Ethereum was $1,549.69 But ETH has a huge upside potential, which we pointed out in our Ethereum price prediction forecast for the next few years.

• End of 2023: Around the price of $4,000, Ethereum will run into strong resistance, just like it did during the last bull run. Once it breaks through that resistance, it will go above its ATH and set a new one at around $6,000.

• By the end of 2024, when ATH reaches its highest point, which will be around $6,000, the market will attract investors by stabilizing at that level. Once it has attracted enough investors, it should quickly fall to $3,900, which is likely just the start of a bear market that will last for years.

• End of 2025 – After the new ATHs, the crypto market will go through a long and painful winter. Ethereum will go back to its key support level, which was set in 2018 at around $1,400.

Ethereum price Prediction 2023

To make a long-term guess about the price of Ethereum, you have to look at the fundamentals. The more people use Ethereum, the more likely the price will go up. When the price hits resistance at around $4,000, a catalyst event is one way that the price will break through that level.

With the release of Ethereum 2.0, the platform can now handle between 20,000 and 100,000 transactions per second. One of the changes is that Ethereum is now more secure against attacks, and the Merge has also become more energy efficient.

Already by far the most-used and most-popular chain for developers of other decentralized applications (DApps) to build on. According to Defi Llama, Ethereum has a TVL (Total Locked Value) of almost $25 billion, which is almost five times larger than its closest competitor, BSC. After the Merge, and especially after the Shanghai upgrade, which is expected to happen sometime in 2023, Ethereum price prediction will be even more appealing to builders and investors in the mainstream and in institutions.

This could send the Ethereum price prediction to its all-time high (ATH) in November 2021, and we think it will break through that barrier. After the breakout, the most likely thing to happen is a retest of the new support that will form at around $4,840. The price of the coin will keep going up and reach a new ATH, probably around $6,000.

Aside from the update to Ethereum 2.0, the Ethereum Blockchain is used to hold and build many non-fungible tokens (NFTs). In the last few years, the NFT market has grown quickly, and some NFTs now sell for millions of dollars. If the NFT market grows even more, more people will use Ethereum, which will drive up its price.

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