Ethereum

2024

Dogecoin

<div class="finbold">
 <p class="paragraph">Ethereum (ETH) has recently experienced notable volatility amid market <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> fluctuations. Despite this uncertain environment, Ethereum aims to maintain its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> above the crucial $3,000 support zone.</p>
 <p class="paragraph">Part of the volatility can be attributed to increased whale activity involving ETH, as significant amounts of the token are being transferred to exchanges. For instance, <em>Whale Alert</em> data on April 20 indicated that 10,911 ETH, valued at approximately $33.52 million, was transferred to Coinbase.&nbsp;</p>
 <p class="paragraph">Such large movements to major exchanges like Coinbase raise concerns about sustained volatility in Ethereum’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>, especially considering the decentralized finance (DeFi) asset’s susceptibility to overall market bearish sentiments.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    AI <a rel="noopener noreferrer nofollow" title="predicts" href="https://thebittimes.com/tag/predicts.html">predicts</a> Dogecoin <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> for May 1, 2024 <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> prediction post-halving; What's next for BTC? <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Opportunity? This $1 cryptocurrency could surge as Bitcoin fees skyrocket <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Here's why you should closely watch these 3 cryptocurrencies <span class="self-center text-xs text-slate-500">5 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Currently, ETH is trading at $3,062.73, having corrected by nearly 1% in the last 24 hours. On the daily chart, Ethereum dipped to a low of $2,900 before experiencing a brief uptick.&nbsp;</p>
 <p class="paragraph">Meanwhile, on the weekly chart, ETH is down over 6%. Amidst this volatility, the primary focus is on how Ethereum’s valuation will evolve in the coming days.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/04/20/ca8b97690e554c44cf06dc95e1709ba7.webp" alt class="wp-image-170529" srcset="https://cdn.thebittimes.com/images/2024/04/20/ca8b97690e554c44cf06dc95e1709ba7.webp 675w, https://cdn.thebittimes.com/images/2024/04/20/ca8b97690e554c44cf06dc95e1709ba7.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>ETH seven-day price chart. Source: Finbold</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-ethereum-price-ai-prediction-nbsp">Ethereum price AI prediction&nbsp;</h2>
 <p class="paragraph">Ethereum is teetering just above the $3,000 zone, a critical juncture, as losing this level could trigger a further downward trajectory. Seeking insights into Ethereum’s potential future movements, Finbold turned to predictions from artificial intelligence (AI) machine algorithm models at CoinCodex.</p>
 <p class="paragraph">According to data retrieved on April 20, Ethereum is projected to trade at $3,117.08 on May 1, representing an increase of approximately 1.7% from its current valuation.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="416" src="https://cdn.thebittimes.com/images/2024/04/20/e47022d7bcd55c385e75806f5f7cf08a.webp" alt class="wp-image-170530" srcset="https://cdn.thebittimes.com/images/2024/04/20/e47022d7bcd55c385e75806f5f7cf08a.webp 1024w, https://cdn.thebittimes.com/images/2024/04/20/e47022d7bcd55c385e75806f5f7cf08a.webp 300w, https://cdn.thebittimes.com/images/2024/04/20/e47022d7bcd55c385e75806f5f7cf08a.webp 768w, https://cdn.thebittimes.com/images/2024/04/20/e47022d7bcd55c385e75806f5f7cf08a.webp 1279w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>ETH prediction, May 1, 2024. Source: CoinCodex</em>
  </figcaption>
 </figure>
 <p class="paragraph">It’s worth noting that May has significant regulatory implications for Ethereum. The Securities and Exchange Commission (SEC) is likely to decide on approving a spot Ethereum exchange-traded fund (ETF).&nbsp;</p>
 <p class="paragraph">Should this product receive approval, its potential impact on Ethereum’s market dynamics remains uncertain. It will be crucial to monitor whether it will echo the precedent set by similar ETFs for Bitcoin (BTC).</p>
 <h2 class="wp-block-heading" id="h-eth-s-key-support-zone-to-watch-nbsp">ETH’s key support zone to watch&nbsp;</h2>
 <p class="paragraph">Amid ongoing uncertainty surrounding Ethereum’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>, crypto analyst<em> Ali Martinez</em> cautioned on April 16 that should ETH continue a downward trend, investors should closely monitor the critical support zone between $2,000 and $2,430.&nbsp;</p>
 <p class="paragraph">Within this range, approximately 9.37 million addresses hold nearly 53 million ETH. A breach of this support zone could potentially intensify selling pressure and exacerbate the downturn.</p>
 <figure class="wp-block-image aligncenter size-full"><img loading="lazy" decoding="async" width="680" height="227" src="https://cdn.thebittimes.com/images/2024/04/20/6743258e37d97ed15159f531f60772bd.webp" alt class="wp-image-170531" srcset="https://cdn.thebittimes.com/images/2024/04/20/6743258e37d97ed15159f531f60772bd.webp 680w, https://cdn.thebittimes.com/images/2024/04/20/6743258e37d97ed15159f531f60772bd.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>ETH money in/out chart. Source: IntoTheBlock/ali_charts</em>
  </figcaption>
 </figure>
 <p class="paragraph">Furthermore, Ethereum’s technical indicators remain predominantly bearish. A summary of the one-day gauges retrieved from <em>TradingView</em> indicates a ‘sell’ sentiment at 13, with similar sentiments reflected in moving averages and oscillators at 10 and 3, respectively.</p>
 <figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="209" src="https://cdn.thebittimes.com/images/2024/04/20/16c460728e002fd446fe2f9e6386297b.webp" alt class="wp-image-170532" srcset="https://cdn.thebittimes.com/images/2024/04/20/16c460728e002fd446fe2f9e6386297b.webp 1024w, https://cdn.thebittimes.com/images/2024/04/20/16c460728e002fd446fe2f9e6386297b.webp 300w, https://cdn.thebittimes.com/images/2024/04/20/16c460728e002fd446fe2f9e6386297b.webp 768w, https://cdn.thebittimes.com/images/2024/04/20/16c460728e002fd446fe2f9e6386297b.webp 1536w, https://cdn.thebittimes.com/images/2024/04/20/16c460728e002fd446fe2f9e6386297b.webp 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Ethereum technical analysis. Source: TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">In conclusion, despite prevailing bearish sentiments surrounding Ethereum, the asset stands to benefit from any bullish resurgence in the broader market, likely driven by the aftermath of the Bitcoin halving event.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ai-predicts-ethereum-price-for-may-1-2024-tbt85893.html">https://thebittimes.com/ai-predicts-ethereum-price-for-may-1-2024-tbt85893.html</a></p>

AI predicts Ethereum price for May 1, 2024

Table of Contents

TheBitTimes

Other articles published on Apr 20, 2024

XRP Rockets Amid Bullish Predictions: Investors on Edge!

Coinbase CEO Reacts As Board Member Kathryn Haun Resigns

Binance CEO Vows Cooperation With Nigerian Authorities In $35M Money Laundering Case

SEC Vs Justin Sun Case Update: Regulator Provides Additional Information In Lawsuit Against Tron ...

HashKey Sever Ties with Binance Amid Mounting Challenges

XRP holders buy Kelexo as Bitcoin halving nears

Join our free newsletter for daily crypto updates!