Ethereum Price Prediction – Will ETH Price Hit $6,500 Soon?

This Ethereum (ETH) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our ETH price analysis and prediction.

Ethereum has so far become the most impressive cryptocurrency in 2020. If 2017 was the year of Bitcoin and initial coin offerings (ICO), then 2020 is the year of Ethereum and decentralized finance (DeFi).

Recently, Ethereum’s London Hard Fork upgrade went live. Notably, the Hard Fork happened at block height 12,965,000. Moreover, the hard fork has also rolled out five new ETH Improvement Proposals (EIPs). However, EIPs 1559, 3554, 3529, 3198, 3541 are code upgrades that aim on improving the user experience of ETH’s network.

But will Ethereum be a good investment in 2021? Or will its story be like how Bitcoin and ICOs ended after the 2017 bull run? Let’s find out in this CoinQuora ETH price analysis and Ethereum price prediction 2021.

What is Ethereum (ETH)?

Ethereum is a decentralized open-source blockchain system that enables its own cryptocurrency, Ether. Moreover, the ETH works as a platform for many other cryptocurrencies, as well as for the execution of decentralized smart contracts.

More so, Ethereum was first explained in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014 and officially launched the blockchain on July 30, 2015.

Even more, Ethereum’s own purported goal is to become a global platform for decentralized applications, enabling users from all over the world to write and run software that is resistant to censorship, downtime, and fraud.

Ethereum (ETH) Current Market Status

As of the time of writing this Ethereum technical analysis, ETH trades at $4,266.52 with a 24-hour trading volume of $26,472,638,970. However, the price of ETH has decreased by 9.87% in the last 24 hours.

Furthermore, ETH has a current circulating supply of 118,364,296.12 ETH. Currently, the top crypto trading platforms for ETH are Binance, Huobi Global, BitZ, Bybit, and OKEx.

Now, let’s proceed to the next part of this ETH technical analysis for 2021.

Ethereum (ETH) Price Analysis 2021

Would the recent development and changes in the ETH’s blockchain help the cryptocurrency price to grow higher? Let’s take a look into the charts in this ETH price prediction article.

In the chart above, which is set in a daily time frame, we can see the Ascending Channel Trend pattern. An ascending channel is the price action that takes place in an upward direction through a sloping parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. Moreover, this pattern indicates a short-term bullish.

As shown above, at the beginning of this month, ETH turned its bearish position to a bull trend. One reason to consider, the high trade volume that occurred in that period.

Furthermore, the Relative Strength Index (RSI) is at 63.56, which means that ETH is in an overbought state. As a result, this may lead to a price reversal at any given time.

Let us also look down for the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of ETH.

Ethereum is one of the potential cryptocurrencies this year. Since the start of 2021, ETH’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by consolidations, fluctuations, and corrections right away.

Ethereum (ETH) Price Prediction 2021

Currently, ETH holds 2nd place on CoinMarketCap. In fact, ETH’s price reached an all-time high price of $4,477.50.

Would this market performance be enough for ETH to maintain its bullish position in 2021? Are you already excited to know the results? Well, what are we waiting for? Let’s get to the bottom of this ETH price prediction 2021.

In the short-to-mid-term scenario for our Ethereum price prediction 2021, ETH has to break past the resistance level at $4,494. To do this, it has to establish more support at the resistance level at $6,245. If not, bears may gain the upper hand and drag ETH further to their territory.

Meanwhile, our long-term ETH price prediction 2021 is bullish. Even more, it has a high possibility of reaching a new all-time high this year. However, that will only happen if it breaks past a number of psychological resistances.

Ethereum (ETH) Price Prediction 2022

If this bullish trend continues, Ethereum will reach $6,500 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $7,000. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $6,500 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Ethereum (ETH) Price Prediction 2023

If ETH holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $9,500, making it not plummet but play consistently.

Ethereum (ETH) Price Prediction 2024

As per the latest upgrades, developments, ETH price prediction, and new project forecasts of the platform, ETH investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of ETH in the crypto market, and it will be the best investment as the price can spike and reach around $12,500.

Ethereum (ETH) Price Prediction 2025

In the next four years, ETH price could race up to $20,000. However, reaching this level could not be so difficult for ETH as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that ETH has a high possibility of reaching new ATH soon in the next five years as per the prediction.

Conclusion

Ethereum has a bright future ahead of it in 2021. With ongoing developments happening within the ETH ecosystem and the overall crypto market, we may see ETH reach new heights.

Even more, the bullish Ethereum (ETH) price prediction 2021 is $6,245. As said above, it may even reach a new ATH if investors have decided that ETH is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin. Moreover, it has a chance to reach $6,500 in the latter parts of this year as well.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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