Our research team has derived new Ethereum price predictions after studying Ethereum’s price trend. They are presented in this article, and are the result of the new trend channel we spot on Ethereum’s chart included in this article.
Before looking into the details we want to point out that chart analysis is as relevant as it can be in the cryptocurrencies space. Some readers are challenging us with the fact cryptocurrencies do not follow patterns or trends, so analyzing chart channels, they claim, are useless. We have made the case of the opposite, many times even. The key difference between cryptocurrencies and traditional investments is, on the one hand, the rate of change (how fast they behave, not HOW they behave), and, on the other hand, the way they are traded (on the blockchain, fully electronical).
A Series Of New Ethereum Price Predictions
Cryptocurrencies typically rise sharply in a very short period of time. We expect Ethereum to pick up steam any time soon, with an acceleration that could bring it significantly higher for a couple of days, only to come back sharply again and test the 400 USD level (its breakout point).
Below chart features the price of Ethereum since early this year. The first months of the year were rather irrelevant as Ethereum was trading at a truly lower level.
However, since Ethereum accelerated in April of this year, it started trending in a new channel. That channel is the one indicated with the blue annotated lines.
Note that we only got a clear confirmation from Ethereum that this trend channel was at play once it broke out earlier this week. Up until then there was a fair chance that Ethereum could in a flat range between 150 and 400 USD range,
This trend channel results in a price prediction of 600 USD in the coming weeks. As said, Ethereum tends to rise very sharply in a very short period of time. With the current acceleration we expect a quick rise in the coming weeks, to the 600 USD level, the upper level of this trend channel.
If, and that is a big IF, this new trend channel continues in the coming months and years, we can expect a series of Ethereum price predictions based on the rate of change of 47% over the last 6 months.
Within that trend channel Ethereum will trade at 1250 in 12 months from now.
And this is where the power of compound gains kicks in. If (a big IF) this trend channel continues it will result in the following series of Ethereum price predictions for the coming years:
- 2710 USD by the end of 2019
- 4000 USD in 2020
Investors cannot exclude an acceleration nor a deceleration of this channel, so the outcome can be even more bullish or simply will never get there because the uptrend stops (not very likely, but never say never).