Ethereum (ETH) Price Drops Again, Is It Predicted to Reach $10,000?
Ethereum (ETH) price today has decreased. However, the prediction of Ethereum price increase to $ 10,000 is still strong with the existing technical data. Here is the full explanation.
Amid today’s declining crypto market conditions, ETH is predicted to achieve a price increase of $10,000. However, today Ethereum price also fell like the majority of other crypto tokens.
So, how can ETH get a predicted price increase? Even though ETH’s recent performance has also underperformed compared to BTC.
Current Ethereum (ETH) Price Chart
Above is the ETH to USDT price chart taken from the Bitrue website. When this article was written on September 30, Ethereum was trading at $2,616 with a decline of 1.18% in the last 24 hours. Previously, during the same period, ETH was at $2,673 as its highest price.
The number on the ETH RSI indicator is 47.80, which means that ETH is safe, not in an over-selling condition even though there is a decrease in purchasing numbers.
Ethereum’s MACD condition is also quite safe with the graph declining but not yet touching the boundary line. Thus, ETH bearishness is technically not coming any time soon.
Are There Signals of an Ethereum Price Bullish?
Recently, Ethereum has experienced poor performance. Several times the price of ETH was in the red even though the majority of crypto tokens were rising.
However, it is predicted that global macroeconomic trends will provide benefits for Ethereum. M2 money supply growth will support Ethereum price increases.
Later, when the central bank eases monetary restrictions it will create a new surge in liquidity in Ethereum which is also in line with Bitcoin.
Beyond global macroeconomic trends, Julien Bittel, head of macro research of Global Macro Investor, stated that ETH could reach its $10,000 price target shortly by conducting a technical analysis of Ethereum.
This is because there are similarities between the current Ethereum price chart and 2023-2024 when ETH experienced a sharp increase.
However, today’s Ethereum price drop is nothing to worry about. This is because the crypto market condition is not currently good. The majority of crypto tokens experienced price declines of varying amounts.
Not only the prices of large tokens, such as BTC, ETH, SOL, USDT, and BNB but also various meme-coins also experienced price declines. GameFi tokens that have been hotly discussed recently, such as HMSTR, NOT, and DOGS, are also following this downward price trend.
Conclusion
This is information about the downward trend in the price of Ethereum (ETH), complete with a discussion of how to predict the price increase in the future.
For those of you who want to learn how to buy ETH, Bitrue has a solution for you. Many features can be used, starting from checking ETH prices in real-time, reading the latest information about Ethereum, to checking conversion prices from ETH to USD easily.
By conducting in-depth research before buying crypto tokens, you will be more secure so you can easily determine an investment budget according to your financial condition.
About Bitrue
Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.
This press release has also been published on VRITIMES