Ethereum has risen 7% in the last 24 hours, once again throwing itself above $ 3,000. As of the publication time of the news, it is bought and sold at the level of 3084 dollars.
Ethereum, which was close to $ 5,000 before, but fell from here, is now giving signals of reversal. ETH, one of the best performing cryptocurrencies of the past year, can see $ 7,000 according to analysts.
33 crypto money experts of the Finder panel held in Australia mentioned that Ethereum could really break the record this year. Despite the recent decline, experts expect the price to rise as high as $7,609 this year.
In addition, panelists predict that in the long term, the Ethereum price will reach $10,810 by the end of 2025 and $26,338 by the end of 2030.
Meanwhile, 79% of the panelists thought that the transition to the proof of work (PoS) model of Ethereum with Ethereum 2.0 will create a big increase in prices; 11% believe that problems such as rising gas fees and scalability will cause price drops.
Finder analysts are pretty bullish on the ETH price outlook. If the above prediction comes true, the value of ETH will have increased by almost 100% by the end of the year.
On the other hand, another forecasting site known as Longforecast predicts a very low price of $2721 in December 2022. This may be due to the short-term performance of ETH and its high correlation with BTC causing a drop in ETH. As a matter of fact, at the time this forecast was published, the ETH price fell by 5% on a weekly basis, while the BTC price dropped by only 2%.
Ethereum price declined to $2721 and managed to bounce off the support here. The critical level for ETH is currently seen as the $3,000 support and the $3,800 resistance.
If Ethereum manages to break the $3,800 resistance once again, $4,500 can be tested in the coming days. The experts' target of $7,000 may also become quite realistic.