The recent Shapella upgrade has propelled the price of Ethereum (ETH) toward $2,000, fueling investors’ hopes for the cryptocurrency to continue its rally. Since the beginning of 2023, ETH has surged by over 60%, and crypto traders are hoping for the price to reclaim this level and continue its upward trend.
The DeFi asset experienced a momentary crash on April 12, dropping as low as $1,841 before bouncing back and surging to its highest price since May 2022 at $1,990 on April 13. Despite this impressive rebound and Ethereum’s overall bullish trend, the Ethereum community at CoinMarketCap remains bearish on the asset’s performance for the end of the month.
Indeed, the crypto community over at CoinMarketCap predicts ETH to trade at an average price of $1,721 (-13.43%) -$267 on April 30, according to the votes of 1,654 individuals.
Overall the community has a 90% historical accuracy of predicting Ethereum’s price over the last six months, with the most recent forecast in March with an accuracy estimation of 87.36%.
Ethereum price analysis
In the last 24 hours, Ethereum was trading as high as $1,990. Currently, ETH is trading at $1,982, up 5.99% on the day, with a total market capitalization of $239 billion, as per the data retrieved by Finbold on April 13.
Crypto analyst Michaël van de Poppe noted ‘Ethereum is going for it’ and looks set potentially climb as high as $2,020 as the next level of resistance.
Ethereum’s technical analysis (TA) on TradingView’s 1-day gauges are extremely bullish; its summary aligns with the ‘strong buy’ sentiment at 17, resulting from oscillators pointing at ‘buy’ at 3 and moving averages (MA) indicating a ‘strong buy’ at 14.
While the future performance of the DeFi asset remains uncertain, Ethereum’s overall upward trend suggests continued growth in the near future.
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