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

2. Market sentiment

• The market is seen to be slightly bullish in July 2024.

3. Predictive forecasts

• Our AI/ML predictive algorithms estimate that ETH's average price will rise to $120,000 in 2028 and close to $2 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: New highs on the horizon

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-August. 
 

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, 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 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 dipped below the critical $3,000 mark to land at $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 lacked sufficient strength to overcome the peak 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 retesting the $2,884 support in July, the price pumped to flip $3,274 mid-month. As the analysis concluded, the altcoin was valued at $3,490. Notably, ETH has been experiencing high buying pressure from U.S. investors. The recent uptick in price and the substantial accumulation can be attributed to the upcoming launch of ETH ETFs in late July.

AMBCrypto’s recent analysis used a liquidation heatmap to outline the possible price targets for the coin. It showed that the current rally can extend to $3,500-$3,700 soon. Moreover, market trends favor a move toward the critical $4,000 mark in the coming weeks.

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.
 

However, AMBCrypto noted that despite an uptick in price, overall interest in the ecosystem was waning. Gas fees on the Ethereum network have consistently decreased since May 2024, indicating diminished network activity. If the selling momentum returns, the price can drop to $2,884 before recovering. 

Our models predict that ETH will trade at an average price of $120,000 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 around $2 million.

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. 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 127.918 million at the time of writing. This marked a slight recovery from early July lows, indicating a slight uptick in buying 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. 
• As of the latest update, the MACD line was at 189.96, the signal line at 252.85, and the histogram at -62.89, suggesting a weakening downward pressure on the price.