Ethereum Price Prediction: 2024, 2025, 2030

ETH price prediction: Key highlights

1. Primary support and resistance levels

• According to the analysis on the weekly chart, the lowest support for ETH was established at $1,615.
• On the flip side, the highest resistance level can likely stand around $4,600.

2. Market sentiment

• The market’s bullish stance is seen to be waning in May 2024.

3. Predictive forecasts

• Our AI/ML predictive models forecast the average price of ETH to reach approximately $100,000 in 2028 and soar over $1 million in 2031.

Get in-depth insights on ETH via a comprehensive monthly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

ETH technical analysis: Market turns its back on the coin

For ETH, bulls appeared to be the dominant force for the most part. Yet, the market downturn prompts a closer look at the Ethereum price prediction in 2024. 

The analysis period commenced with the coin testing the $2,007 mark. This attempt faced pushback. Yet, the bulls launched another rally that faced a similar setback in July. A series of declines led the price to fall back to its lowest price floor at $1,615 by mid-August. 

After brief dips below this level, bulls initiated a stronger rally in mid-October, flipping $2,007 into support in November. For the entire month, buyers strived to defend this support while accumulating strength to move toward the resistance at $2,506. A test of this level in January triggered a slight pullback mid-month. 

Nevertheless, the decline ceased swiftly, and the price moved past this threshold by mid-February. With increasing buying pressure, the price even managed to cross the $3,134 level by the month's end. Following this, ETH marked a new peak resistance at $4,003. 
 

A test of this level precipitated a corrective drop. The decline was amplified as the cryptocurrency market experienced a significant downturn in April. This caused the price to fall back to $3,134. 
 

Nonetheless, this wasn’t the end of bullish worries, as the onset of May saw the price dropping below $3,134 and even the critical $3,000 mark. As the analysis concluded, the altcoin was valued at $2,903. Now, if the bulls fail to defend the current support at $2,884, ETH can plummet to the $2,506 mark, erasing most of the 2024 gains.
 

Meanwhile, things were looking grim for Ethereum on the network front. AMBCrypto highlighted that since April 19, Ethereum’s total supply has increased to about 120.1 million due to a reduction in fee burning following the Dencun upgrade. This shift reflected a move away from Ethereum’s deflationary trend. Moreover, the transaction fees reached a yearly low of approximately $0.5 per transaction.
 

Recent reports indicated that the odds were against the approval of an Ethereum spot exchange-traded fund (ETF) in the U.S. If the applications face rejection, it would trigger a massive downturn in the market. 

AMBCrypto noted that analysts have projected lower prices for Ether in the coming months, attributing this to negative market sentiment and selling pressure that could decrease ETH's value in terms of Bitcoin (BTC).

Notwithstanding, in the event that the ETH ETF is approved, it could act as a catalyst for further growth, propelling the coin's price beyond its current highest resistance level. Such a surge could elevate the price to as high as $4,500 in the short to medium term. 

ETH can also follow in BTC's footsteps and reach its all-time high (ATH) this year, with prospects to touch the $5,000 mark. However, as the price trajectory evolves, it may encounter significant resistance at $4,600.

Our models predict that ETH will trade at an average price of $100,000 in the next four years. The next significant milestone for the coin would be attaining a valuation of a million dollars, which is most likely to happen in 2031. The models predict that the coin might average over $1 million.

ETH's 2024 roadmap: Key indicators to watch and trade

• The trading volume started high but began to decline as the price dropped. A recovery was observed during the bullish phase in mid-October.
• Between mid-February and mid-March, the volume recorded new highs, but it faltered given the following downtick. This signaled that investors were withdrawing or potentially waiting for more definite signs before committing further.
• The On-Balance Volume (OBV) descended until October. Thereafter, it picked up the pace and sustained an uptrend till March. Nonetheless, its trajectory reversed, reaching the value of 126.6 million at the time of writing. 
• This value was lower than its March peak of 145.714 million. It indicated a drop in buying pressure.
• The Moving Average Convergence Divergence (MACD) line crossed below the signal line in June, followed by a drop below the zero line in September. The signal line followed suit in October, indicating a negative shift in momentum.
• Towards the end of October, the MACD line rose above the signal line. The momentum continued to improve in November as both the MACD and signal lines moved above the zero line, with the trend mostly ascending thereafter. 
• By the end of March, the MACD line began to decline, eventually dropping below the signal line in late April, which also started descending. As of the latest update, the MACD line was recorded at 242.54, the signal line at 322.82, and the histogram at -80.28. This suggested an increase in downward pressure on the price.