Ethereum (ETH) is no exception, as much of the cryptocurrency market has begun to recover from the recent bearish hiccup, but artificial intelligence (AI) algorithms are currently showing signs that this recovery will be a bullish move for the crypto asset in the coming years. I haven't considered it a sign for a few weeks.
In fact, the second-largest crypto asset by market capitalization lost over 3,000 yen earlier this week after trading above that level for about two months after recording its most active day on the network in at least a year. It is slowly recovering to regain the dollar's level. According to the latest charts.
Ethereum Price Prediction May 2024
However, despite these positive signs for Ethereum, advanced AI algorithms do not think its price problems will be over by the end of this month, and the latest from crypto watchdogs and crypto watchdogs According to the data, it is predicted to fall to $2,534.25 by May 31, 2024.Prediction platform price prediction May 2.
In other words, the algorithm considers technical analysis (TA) indicators such as Relative Strength Index (RSI), Bollinger Bands (BB), and Moving Average Convergence Divergence to predict Ethereum to decline by 15.33% from its current situation ( MACD) etc.
Ethereum price analysis
At the moment, Ethereum is trading at a price of $2,993.07, which is up 3.57% in the past 24 hours, down 3.80% in the past 7 days, and has accumulated a decline of 10.78% over the past month. Suggests. Latest data.
Meanwhile, prominent crypto trading expert Ali Martinez observed positive signs for Ethereum, with April 29th recording 139,560 new ETH addresses, the network's most successful growth in over a year. He emphasized that it was the day when ×post May 2.
As Martinez previously noted, Ethereum is facing a strong resistance level at $3,200, which is partially due to the roughly 2.34 million addresses owning a total of 5.14 million ETH purchased at this average price. has emerged as a significant barrier.
That being said, a pseudonymous crypto influencer with a large following on social media is Mr. Crypto, I'm looking forward to it Ethereum will reach a target price of at least $10,000 at some point next time, while other crypto assets such as Bitcoin (BTC) at $100,000 and Solana (SOL) at $1,000 are also envisioned.
In conclusion, Ethereum may indeed continue to fall towards the lower price target predicted by AI algorithms, but some cryptocurrency analysts may disagree with this and believe that there is a large amount of capital in the asset. emphasizes the importance of doing your own research before investing.
Disclaimer: Content on this site should not be considered investment advice. Investments are speculative. When you invest, your capital is at risk.
