Ethereum

Greed

random

Convergence

Daily

<a href="https://cryptoticker.io/en/token/price/ETH-USD/" rel="noopener noreferrer nofollow">Ethereum's price</a> has been hovering around a key support level at $2,419, a critical point that could shape its next move. If it stays above this mark, there’s potential for stability or even growth. But if it closes below, it could set off a further decline, sparking concerns among investors. In this <a href="https://cryptoticker.io/en/prediction/ethereum-price-prediction/" rel="noopener noreferrer nofollow">Ethereum price prediction</a> article, we’ll break down what this support level means, why it’s important for Ethereum’s price, and what traders and investors might expect in the coming days.
<h2 id="strong-how-has-the-ethereum-price-moved-recently-strong">How has the Ethereum Price Moved Recently?</h2>
<figure class="image"><img style="aspect-ratio:1814/802;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/ETHUSD_2024_11_04_16_43_00_a0269c4163.png" alt="Ethereum Price Prediction" width="1814" height="802">
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 ETH/USD Daily chart- <a href="https://www.tradingview.com/symbols/ETHUSD/?aff_id=127958" rel="noopener noreferrer nofollow">TradingView&nbsp;</a>
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</figure>
As of today, <a href="https://www.tradingview.com/symbols/ETHUSD/?aff_id=127958" rel="noopener noreferrer nofollow">Ethereum is priced at $2,464.83,</a> with a daily trading volume of $20.10 billion. It holds a market cap of $296.71 billion and a 12.75% share of the total crypto market. Over the past 24 hours, ETH’s price has seen a slight rise of 0.36%.
<a href="https://cryptoticker.io/en/prediction/ethereum-price-prediction/" rel="noopener noreferrer nofollow">Ethereum reached its peak price of $4,867.17</a> on November 10, 2021, marking its all-time high. In contrast, its lowest recorded price was on October 21, 2015, when it traded at $0.420897. Since reaching that peak, the lowest Ethereum has fallen is $897.01, while its highest point since that cycle low has been $4,094.18. Currently, market sentiment for Ethereum is bearish, with the Fear &amp; Greed Index reflecting a value of 69, signaling 'Greed.'
Ethereum's circulating supply stands at 120.38 million ETH, with a yearly supply inflation rate of 0.09%, resulting in 108,963 ETH generated over the past year.
<h2 id="strong-ethereum-price-prediction-eth-price-is-stable-strong">Ethereum Price Prediction: ETH Price is Stable</h2>
Ethereum's price is sitting around $2,419, holding steady at a pretty crucial support level. This isn’t just any random spot on the chart; it aligns with the 50% retracement level at $2,485, connects to a steady upward trendline that’s been forming since early September, and sits right on that daily support line at $2,419.&nbsp;
Basically, this level is a big deal—if it holds, Ethereum could stay on track, maybe even push higher. But if it breaks below, there’s a chance it could tumble down another 11% and test the $2,150 level from back in September.
Now, the momentum indicators aren’t exactly encouraging. The MACD (Moving Average Convergence Divergence) recently flashed a bearish signal, with the MACD line crossing below the signal line on October 31.&nbsp;
Plus, those red histogram bars are building up under the zero line, pointing toward some possible downside action. The RSI (Relative Strength Index) isn’t looking too optimistic either; it’s currently at 45, which leans a bit bearish and hints that selling pressure could be increasing. If this trendline holds, though, Ethereum could make a comeback and possibly test its recent high from October at $2,769. So, it’s a bit of a make-or-break moment here.
Then there’s the excitement around the <a href="https://www.theblock.co/post/288175/ethereums-pectra-upgrade-to-bring-smart-contract-functionality-to-wallets-as-experts-debate-eip-3074" rel="noopener noreferrer nofollow">Pectra hard fork </a>coming up later this year. This upgrade aims to tackle some big issues on the Ethereum network, like high gas fees and sluggish transactions. With these changes, Ethereum might become a bit more competitive and efficient.&nbsp;
And, interestingly, some of the big players—those “whale” investors—have been scooping up ETH, showing they’re feeling pretty bullish about what’s ahead. They’re betting that Pectra could make <a href="https://cryptoticker.io/en/prediction/ethereum-price-prediction/" rel="noopener noreferrer nofollow">Ethereum more appealing </a>and drive up its value post-upgrade. So while the technicals are hinting at some near-term pressure, the Pectra upgrade and the whales’ confidence could keep Ethereum’s price from dipping too far.

Ethereum Price Prediction: ETH Price is Stable

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