Analysis

Ethereum Technical Survey

The price of Ethereum is moving in consolidation mode. However, the market bears are in control, putting some pressure off the ETH/USD towards the downside. A drop of 22% was witnessed from $275 to its latest low of $215. This was its steepest lower move since November 2018. Initially, ETH/USD had a chance to breakout higher when the price formed a bullish structure through its 4-hour window. But, between 14 to 24 February 2020, the bears forced it towards the downside. During this, exacerbating the high pressure, the $250 was also given up.

Yearly Forecast

The second most famous and the number one platform for the smart contracts, Ethereum, looks to overcome the blockchain bandwidth and network scalability. The year 2019 wasn’t very successful for the Ethereum cryptocurrency, but now it is seen to recover. But what is the yearly forecast for Ethereum? Will the price of the Ethereum rise in 2020? Or will it turn downwards? Though it is not simple to analyze any crypto’s future, here is all that the experts predict:

• A leading figure predicts that the Ethereum price will hit $1200 in 2020.

• Another key influencer predicts that it will cross $1900 in the coming months.

• A tech-savvy figure estimates that ETH will go somewhere near $500.

• A popular cryptocurrency website predicts that Ethereum will experience a loss initially and then reach the mark of $260.

• Another famous figure predicted that it would hit the $2500 mark by the end of 2020.