The ebbs and flows of the cryptocurrency market have been palpable recently, with an evident attempt to ascend but facing subsequent corrections. Was it day traders taking their profits? Let’s explore the trajectory of Ethereum in this Ethereum price prediction.
How Did Ethereum Perform in 2023?
Kicking off 2023, Ethereum was priced at $1,200. As the year unfolded, ETH prices managed to reach around $2,200. However, the broader market was rattled by numerous negative events causing a plummet. As of now, Ethereum is valued at $1,850, signaling a consolidation phase while the market anticipates a positive breakout.
Is It a Good Idea to Buy Ethereum?
Consolidation periods often beckon investors, given the clarity they offer in setting stop loss points. 2023 might not have been Ethereum’s year to shine as bright as expected, but procuring Ethereum at its present value with a stop loss set at $1,820 could be a strategic move.
Ethereum Price Prediction: Will ETH reach $2,000 soon again?
In the long run, Ethereum is forecasted to witness an uptrend, targeting a medium-term price of $2,200. Yet, investors should brace for potential short-term dips in value.