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 $1,641.
• On the other hand, the highest resistance level is likely around $4,600.

2. Market sentiment

• The market's bullish stance is waning in June 2024.

3. Predictive forecasts

• Our AI/ML predictive algorithms estimate that ETH's average price will rise to over $140,000 in 2028 and $1 million by 2031.

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: Price slumps post ETF approval

For ETH, 2024 has been a roller coaster. Amid new developments and regulatory changes, Ethereum price prediction in 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 $1,641 by mid-June. Subsequent recovery attempts faced pushback, returning ETH to the prior base in mid-August. 

After brief dips below this level in the following months, bulls initiated a stronger rally in mid-October. Buyers strived to elevate the price while accumulating strength to move toward $2,505. 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. Consecutive bullish candles rose ETH to test the peak resistance at $4,003 in early March. 
 

A test of this level precipitated a corrective drop to $3,274. Nonetheless, this wasn’t the end of bullish worries. The decline was amplified by the broader market's downturn in April. Thus, the price lost its standing over this level and even dipped below the critical $3,000 mark to land on $2,884. 

Until mid-May, ETH held on to this support base. Remarkably, the coin witnessed a massive uptick in late May after ETH exchange-traded funds (ETFs) were approved. This propelled it to flip $3,703. However, bulls did not have enough strength to push the price to the peak resistance.
 

Following the approval, AMBCrypto reported that over $3 billion worth of Ether was withdrawn from centralized exchanges (CEXs), suggesting a potential supply squeeze. Moreover, the supply of Ethereum on exchanges was at its lowest level in years. 

Nevertheless, selling pressure mounted, and $3,703 was reinstated as resistance by early June. AMBCrypto highlighted that this pessimism arose as prospective spot ETH ETF issuers awaited comments from the Securities and Exchange Commission (SEC) on their S-1 filings, submitted on May 31. Many had expected feedback from the regulator by June 7. However, all eight prospective issuers, whose applications were approved on May 23, have not received any feedback yet.

As the analysis concluded, the altcoin was valued at $3,516. If the selling momentum continues, the price may drop to $2,884 before recovering. Notwithstanding, the upcoming launch of ETH ETF could act as a catalyst for further growth, propelling the coin's price beyond its current resistance level. Such a surge could elevate the price to as high as $4,003 in the short to medium term. 
 

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. 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 $140,000 in the next four years. The next significant milestone for the coin is attaining a valuation of a million dollars, which is 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 remained low in sync with the price. A recovery was seen during the bullish rally in mid-October. 
• Between mid-February and mid-March and lastly, in late May, the volume reached new highs but faltered due to a subsequent downtick. This indicated that the investors withdrew or waited for clearer signals before committing further.
• The On-Balance Volume (OBV) moved south until October. It then picked up and continued to rise until March. 
• However, its trajectory reversed, reaching 129.459 million at the time of writing. This marked a drop from its March highs, indicating a decline in buying pressure.
• The Moving Average Convergence Divergence (MACD) line dropped below the signal line in mid-June. The continued descent culminated in it dropping below the zero line in September. The signal line followed in October.
• As October ended, the MACD line rose above the signal line. The momentum continued to improve in November as both lines moved above the zero line and kept ascending.
• Nonetheless, by the end of March, the MACD line began to decline, eventually dropping below the signal line in late April, which also started descending. 
• After briefly moving past the latter in early June, the MACD line returned to its submissive position. As of the latest update, the MACD line was at 309.37, the signal line at 316.99, and the histogram at -7.62, suggesting a slight downward pressure on the price.