With everyone’s attention shifting from DeFi to Bitcoin’s (BTC) jaw-dropping 55,4% trip to the upside, which landed it in a close proximity to the all-time high, Ethereum (ETH) has been forced to take a backseat for a while and be more moderate in terms of gains. The current price of Ethereum sits at $473 after the 27% appreciation in the past 30 days, having gone from $379 in the middle of October to its present standings.
ETH/USD price chart - 30 days
Given that the doubts about the bullishness of the current cryptocurrency market are melting by the day, our proprietary Ethereum price prediction model dictates that in 30 days, the ETH value in USD will increase by 19.45%, hence hitting the overhead resistance zone between $573 and $600, the target that converges with the 38.2% Fibonacci retracement level.
The altcoin’s prospects on the Ethereum historical chart look bullish since the current monthly candle is about to close significantly higher than the previous three candles, and probably higher than the upper wick of the September candle, which is going to constitute a very strong ETH buy signal and confirm the buyers’ intention to drive the Ethereum price to the designated target.
Add to that the fact that the buying volume has been picking up since the 20% dump in September, and we get a nice bullish setup for the continuation of the uptrend into 2021. Therefore, if you still doubt whether Ethereum is a good investment, just take a look at the price chart and realize that it might be the last opportunity to buy ETH at such prices.
What 2021 is going to bring the Ethereum traders and investors?
For the 2021 Ethereum price prediction, we will address our AI-driven algorithm which suggests that by the same time next year, the Ethereum price in USD will attain the height of $1,158 per coin, with only 37% being left to the historical high.
Ethereum Price Prediction Chart - 1 year
The anticipated path of ETH is accurately depicted on the chart above, where you can notice that in a month, we expect the Ethereum price to start appreciating significantly because of a crucial fundamental driver that is the launch of Ethereum 2.0.
Ethereum 2.0: a nitrogen fuel for ETH’s bull market
In a nutshell, Ethereum 2.0 is an upgrade that will bring fundamental changes to such network functional capabilities as transaction speed, network scaling, interoperability, and security. Should these and all accompanying changes be implemented successfully, our stance on ETH will change from being moderate to extremely bullish since Ethereum will get a chance to reset the rules of the crypto game.
But since we offer a comprehensive ETH price prediction for 2025 and 2030, we would need to dive deeper into the fundamental analysis of Ethereum 2.0 because the fundamentals will have a major impact on the price of ETH in the next 5 to 10 years.
Ethereum 2.0 is the eagerly awaited, and slightly overdue, scaling solution that is an important stepping stone for the network's eventual transition to the Proof-of-Stake (PoS) model. The development of Ethereum 2.0 began back in 2017, the time when the blockchain started to become bloated and congested when the transaction volumes had gone overboard. Vitalik Buterin, the founder of Ethereum, thought that the introduction of PoS would greatly facilitate the consensus achievement and reduce the block production time to a fraction of its current value.
The Ethereum 2.0 upgrade structure