According to a recent price prediction by a popular crypt analyst by the name of crypto Rover, he has forecasted that Ethereum (ETH) which is the second largest cryptocurrency by market capitalization will be trading at $100k by 2030.
At press time ETH was trading at $1,567.52 down by 4.03% in the last 24 hours. However, the trading volume of Ethereum has recorded an increase of 14.38% and is currently at $9,181,424,246.
Furthermore for ETH to skyrocket up to $100K its market cap needs to be at least $12 trillion and bull pressure must be consistence multiple times in Ethereum market. The current ETH price is a 67.98% price decrease from its all-time highs (ATH) of $4,891.70 which Ethereum recorded on 16th November 2021.
Crypto Rover went on to predict Bitcoin’s (BTC) price. As per the analyst predictions, BTC price will be valued at $1,340,000 by the yea 2030. Bitcoin is now trading at $22,833.32 and has a trading volume of $26,923,512,396. BTC prices have found a consolidation level at the $22K level after the giant cryptocurrency encountered failed to break the $24K level.
For ETH to reach 100K BTC is estimated to reach a 7-figure valuation, which will lead to the enticement of ETH market or ETH must surpass BTC as the biggest cryptocurrency in terms of market capitalization.
It’s very likely that ETH will surpass BTC and set a new record high before BTC. The first evidence of this enormous surge would be if BTC reached $100K before 2024, which seems plausible.
On the 24-hour price chart for ETH, bears have dominated the market, as indicated by the MACD line, which is moving below its signal line. The MACD histogram is printing mostly negative values, which suggests greater selling pressure than buying pressure. This indicates that the current bearish sentiment might persist in the coming hours.
Ethereum (ETH) is neither overbought nor oversold at the moment, according to the current RSI reading of 56.99. It is currently trading in a neutral range, favoring neither bullish nor bearish investors. The RSI, however, is signaling a pessimistic mood because the RSI line is below its signal line, which suggests that the bearish sentiment in ETH market may persist in the ensuing hours.
In conclusion, ETH price prediction shows that the price of Ethereum is likely to soar in the near future, possibly causing ETH to overtake Bitcoin and reach new highs.
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