Ethereum [ETH] Technical Analysis and Price Prediction 2018, 2020 22450
Analysis
Priyanka Babu
Sep 6, 2018 at 5:15 AM

The crypto market today has faced a mysterious meltdown with Bitcoin plunging below the $7000 mark. Bitcoin experienced panic selling in a span of two hours where its prices slumped over 5% against USD while other coins followed its lead and fell by 10% in the bear storm. With this year's plunge, Ethereum [ETH] has circled back to its low registered at $244.3 in September 2017 marking another one year low.

ETH/USD

ETH prices have tumbled in tandem with the overall crypto market. It was one of the coins to be the worst affected by the recent baffling crypto market crash. The prices started trading below $250 and have broken out from two support levels it tested until now. The prices are currently trading at $241.99 and have dipped over 15% over the past 24 hours. The 100 EMA line trading at $289.152 suggests a downtrend while the MACD reveals that the prices are battling a severe bear storm.

Ethereum [ETH] Technical Analysis and Price Prediction 2018, 2020-BCFocus

ETH /BTC

Currently, one ETH is equal to 0.035157 BTC and is dipping against BTC by 9.55%.

Ethereum Price Prediction 2018, 2020

  • According to Longforecast, ETH is expected to reach as high as $724 by the year 2020. Experts believe the coin’s price could range within $474-$672 over the next few months.
  • Coinkir has predicted that the crypto will begin 2020 at around $720 and continue rising, reaching as high as $1,488 by the end of the year.
  • According to Smartereum, many expect the digital asset to hit a lofty $2,500 by the end of this year. The coin’s price could reach as high as $31,000 in 2020.

Ethereum Latest Updates

  • Wirex, the digital cryptocurrency wallet provider has announced the addition of an Ethereum Wallet following its launch of Ripple’s XRP.
  • Google is adding Ethereum to Bigquery, its native big data analytics platform to give momentum to smart contracts analytics.
  • Balance Custody, a secure offline storage solution, developed by Balance, a digital asset management company has included Ethereum in their trading platform. The company offers ‘the safest way to buy a mix of digital currencies’.

See Also: Goldman Sachs gives up its plans for a direct crypto trading desk, for now

                    People’s Bank of China’s blockchain trade finance platform enters trial phase

Legal Disclaimer: The content of this website (bcfocus.com) is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on bcfocus.com as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Bcfocus.com does not accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to the website.

Image via Shutterstock

Join our telegram group.