Ethereum Price Prediction: 2024, 2025, 2030

ETH price prediction: Key highlights

1. Primary support and resistance levels

• Based on the weekly chart analysis, the lowest support level for ETH was $1,554.
• The highest resistance level was observed at $3,950.

2. Market sentiment

• The market is seen to be bearish in September 2024.

3. Predictive forecasts

• Our AI/ML predictive algorithms estimate that ETH's average price will rise to $6,000 in 2029 and close to $10,000 by 2032.

Gain valuable insights on ETH via a comprehensive weekly 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: Analyzing the probability of a bullish Q4

For ETH, 2024 has been a roller coaster. Amid new developments and regulatory changes, the Ethereum price prediction for 2024 has become a topic of keen interest to investors. The analysis commenced with the coin under bearish claws, driving it to its lowest price floor at $1,554 by mid-September.

After briefly stabilizing, the bulls initiated a stronger rally in mid-October. The uptrend faced a slight pullback at $2,505 in late January. Nevertheless, the decline ceased swiftly at $2,183, and the price moved past this threshold by mid-February. Consecutive bullish candles rose ETH to test the peak resistance at $3,950 in early March. 

A test of this level precipitated a corrective drop, pulling the price slightly below $3,551. Nonetheless, this wasn’t the end of bullish worries. The decline was amplified by the broader market's downturn in April. Thus, the price dipped below the critical $3,000 mark to land at $2,884. 

ETH held on to this level until mid-May. Remarkably, the coin witnessed a massive uptick in late May after ETH exchange-traded funds (ETFs) were approved, propelling it to flip $3,551. However, bulls lacked sufficient strength to overcome the highest resistance.

Selling pressure mounted, and a similar pattern of declines followed from June. This pessimism arose as prospective spot ETH ETF issuers awaited comments from the Securities and Exchange Commission (SEC) on their S-1 filings. 
 

After dropping to $2,884 in July, the price pumped to challenge $3,551 mid-month. Notably, ETH was experiencing high buying pressure from U.S. investors. The uptick in price and the substantial accumulation were attributed to the hype around the upcoming ETF launch.

The ETFs began trading on July 23. Nevertheless, AMBCrypto reported that ETH dropped the next day. This dip was caused by an overall meltdown across U.S. equities that reportedly wiped out over $1 trillion in value. Furthermore, initial excitement for ETH ETFs quickly faded, leading to a classic sell-the-news scenario.
 

Subsequently, a stronger downturn reinstated $2,884 as resistance, driving ETH to $2,505. August was quite unfavorable for ETH. After a mid-month price uptick, things took a turn for the worse. 

Ethereum's gas fees hit a five-year low in late August, leading to less ETH being burned under the EIP-1559 mechanism. This decrease slowed the reduction of the coin's supply, possibly dampening near-term price rises. Moreover, the ETFs saw substantial outflows.

AMBCrypto’s analysis revealed that the altcoin was below its market bottom, hinting at further declines. This materialized as ETH retested the support at $2,183 in September. At press time, it was valued at $2,357. 

How high/low can ETH go in 2024?

AMBCrypto recently highlighted that ETH exchange reserves dipped to levels last seen in 2016, which may have contributed to its robust price performance in 2017. If this pattern were to repeat in 2024, it could suggest a strong rally for ETH in 2025. 

Another report observed that ETH's price action echoed its 2019 trend, forming an ascending wedge. The higher lows in this cycle's wedge are ten times greater than in 2019. 
 

Like 2019, ETH can likely drop below this wedge before a Federal Reserve rate cut, paralleling past events. Post-cut, the price might rebound strongly in late Q4 2024 or early Q1 2025.

This could potentially help the coin rise to $3,000. ETH can also follow in Bitcoin’s (BTC) footsteps and reach its all-time high (ATH) this year, with prospects to touch the $5,000 mark. Regardless, as the price trajectory evolves, it may encounter significant resistance around the $3,950 mark.

Notwithstanding, historical similarities do not ensure similar outcomes. Navigating beyond the $2,884 level may prove challenging, with a potential price downturn expected. Additionally, if the sell-offs continue and breach the current support, the price can drop to $2,000.

Our models predict that ETH will trade at an average price of $6,000 in the next five years. The next significant milestone for the coin is attaining a five-digit valuation, likely in 2032. The models predict that the coin might average around $10,000.

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

• The trading volume recovered modestly from mid-October. Between mid-February and mid-March and lastly, in late May, the volume reached new highs but faltered due to a subsequent price downtick. 
• Notably, the price drop in August attracted substantial buyers, leading to a surge in volume, but its unsustainability painted a cautious picture.
• The On-Balance Volume (OBV) continued to rise from October until March. However, its trajectory reversed, reaching 119.756 million at the time of writing. This indicated a dominant selling pressure.
• The Moving Average Convergence Divergence (MACD) and the signal line dropped below the zero line in September and October, respectively. As October ended, the MACD line rose above the signal line. By the following month, both turned positive.
• Nonetheless, by the end of March, the MACD line began to decline, forming a bearish crossover in late April. After a brief bullish crossover in early June, the MACD line returned to its submissive position and turned negative by mid-August. 
• The signal line followed suit by early September. As of the latest update, the MACD line was at -144.25, the signal line at -1.06, and the histogram at -143.19, suggesting a strengthening downward pressure on the price.