Key Takeaways:
• Comparing Ethereum to the US Dollar, it is up 5.24% today.
• Today's rise in ETH/BTC was 2.91%.
• Currently, Ethereum is selling 8.66% below where we expect it to be on November 3, 2022.
• Ethereum has increased 17.80% in the past month and has decreased -63.69% over the past year.
| Ethereum price | $ 1,585.55 |
| Ethereum prediction | $ 1,737.92 (9.48%) |
| Sentiment | Neutral |
| Fear & Greed index | 34 (Fear) |
| Key support levels | $ 1,508.51, $ 1,460.81, $ 1,430.79 |
| Key resistance levels | $ 1,586.22, $ 1,616.24, $ 1,663.94 |
Ethereum Price Prediction Will Rise by 9.48% in the Next Five Days
The price of Ethereum is currently $ 1,585.55, up 5.24% over the previous 24 hours. The coin outpaced the cryptocurrency market, which saw a 3.98% growth in total market capitalization within the same time frame. Today, ETH outperformed BTC, recording a 2.91% gain against the biggest cryptocurrency in the world.
Our Ethereum price forecast indicates that on November 3, 2022, the price of ETH will be $1,737.92. This would represent a 9.48% price increase for ETH in the next 5 days.
What Happened to Ethereum During the Past 30 Days?
Ethereum has been showing signs of improvement lately; in the past 30 days, the price of the coin increased by 17.80%. Ethereum has experienced a bearish medium-term trend, with ETH falling by -7.26% over the past three months. Ethereum's long-term outlook has been poor; at the moment, ETH is showing a 1-year price change of -63.69%. ETH's price on this day last year was $4,371.90.
On November 10, 2021, the price of ETH peaked at $ 4,867.17, marking the day that it reached its all-time high. ETH's most recent cycle high is $2,038.34, and its most recent cycle low is $897.01. Recently, ETH has shown little volatility; the coin's 1-month volatility is 5.20. In the previous 30 days, there were 13 green days for Ethereum.
ETH's Technical Analysis for October 29, 2022
The Fear & Greed index currently reads Fear, and the market mood for Ethereum is Neutral. The most crucial support levels to keep an eye on are $1,508.51, $1,460.81, and $1,430.79, while the most crucial resistance levels are $1,586.22, $1,616.24, and $1,663.94.
Ethereum's Neutral Reputation
For Ethereum, 21 indications now indicate a bullish prognosis, while 10 indicators indicate a bearish one. 68% of the indications point to a favorable prognosis. Overall, Ethereum sentiment is therefore neutral as a result of this.
Fear is Currently Affecting the Cryptocurrency Market
The Fear & Greed index is currently at 34 (Fear), indicating that investors have a pessimistic view of the market. An indicator of investor sentiment among cryptocurrency investors is the Fear & Greed index. Although it may be a sign that the market is overvalued, a "Greed" reading implies that investors are currently positive about the cryptocurrency sector. On the other side, a "Fear" reading indicates that investors are presently uneasy about the bitcoin market, which can give a purchasing opportunity.
ETH's Moving Averages and Oscillators
Let's examine the signals being sent by some of the most significant technical indicators. We'll go through important moving averages and oscillators that will give us a better understanding of where Ethereum is currently trading.
| Period | Daily Simple | Daily Exponential | Weekly Simple | Weekly Exponential |
| MA3 | $ 1,545.46 (BUY) | $ 1,556.20 (BUY) | - | - |
| MA5 | $ 1,488.70 (BUY) | $ 1,527.57 (BUY) | - | - |
| MA10 | $ 1,398.52 (BUY) | $ 1,454.64 (BUY) | - | - |
| MA21 | $ 1,347.50 (BUY) | $ 1,392.67 (BUY) | $ 1,459.25 (BUY) | $ 1,585.79 (BUY) |
| MA50 | $ 1,396.15 (BUY) | $ 1,406.03 (BUY) | $ 2,376.63 (SELL) | $ 2,012.16 (SELL) |
| MA100 | $ 1,534.61 (BUY) | $ 1,498.75 (BUY) | $ 2,393.72 (SELL) | $ 2,021.92 (SELL) |
| MA200 | $ 1,723.57 (SELL) | $ 1,772.19 (SELL) | $ 1,310.56 (BUY) | $ 1,597.89 (SELL) |
| Period | Value | Action |
| RSI (14) | 67.68 | SELL |
| Stoch RSI (14) | 84.43 | SELL |
| Stochastic Fast (14) | 78.76 | NEUTRAL |
| Commodity Channel Index (20) | 66.67 | NEUTRAL |
| Average Directional Index (14) | 26.07 | BUY |
| Awesome Oscillator (5, 34) | 94.64 | NEUTRAL |
| Momentum (10) | 182.28 | NEUTRAL |
| MACD (12, 26) | 32.76 | NEUTRAL |
| Williams Percent Range (14) | -21.24 | NEUTRAL |
| Ultimate Oscillator (7, 14, 28) | 67.00 | NEUTRAL |
| VWMA (10) | 1,417.82 | BUY |
| Hull Moving Average (9) | 1,535.79 | SELL |
| Ichimoku Cloud B/L (9, 26, 52, 26) | 1,395.82 | NEUTRAL |
A popular indicator that tells investors whether an asset is currently overbought or oversold is the Relative Strength Index (RSI 14). The Ethereum RSI 14 is at 67.68, indicating that the price of ETH is neutral at the moment.
The closing price of Ethereum over the previous 50 days is taken into account by the 50-day Simple Moving Average (SMA 50). The fact that Ethereum is currently trading below the SMA 50 trendline is a negative indication.
The 200-day Simple Moving Average (SMA 200), meanwhile, is a long-term trendline that is determined by averaging the closing price of ETH over the previous 200 days. ETH is currently trading above the SMA 200, indicating a bullish market.
Conclusion to ETH's Pump Prediction
We can conclude that the current estimate for the price projection of Ethereum is Neutral after taking the aforementioned factors into account. In order to reach our $ 1,737.92 target over the next five days, ETH would need to rise by 9.48%. In the future, it will be crucial to keep an eye on the sentiment of the ETH market, the main levels of support and resistance, and other metrics. The cryptocurrency markets are unpredictably volatile, and even the biggest crypto assets exhibit high levels of price volatility, therefore we must keep this in mind. Click here for long-term Ethereum price predictions.
