cryptocurrency market, Bitcoin (BTC) suffered losses due to the sudden drop in price. On the other hand, Ethereum (ETH), the largest altcoin, was not affected by this. In this context, it is natural for investors to wonder about the future of the altcoin.
In this context, Finbold received support from artificial intelligence to evaluate the expected price of ETH by the end of the month.
These algorithms evaluate constantly changing market conditions. It examines the relevant indicators to predict the probability of this Ethereum gaining at the end of January.
According to algorithms, Ethereum The projected price for is likely to rise to $2,285 by January 31. This reflects a 2.60% increase from its current level of $2,237 at the time of writing.
Analysts’ Forecasts
MVRV comparison provides insights into market profitability by allowing to evaluate whether the current price is higher or lower than the perceived “fair value.”
For Ali Martinez, ETH’s next important price targets are $3,830 and $5,100.
According to Michael van de Poppe’s January 3 post, the range in question appears to be relatively bullish compared to other analysts, as momentum needs to be gained for ETH to continue towards the $3,000 to $3,500 price range.
Speaking of ranges, potential and momentum, the current market sentiment towards this digital asset as recorded by the fear and greed index stands at 65 as per the latest data received on January 4 in the section.
Ethereum Fear and Greed Index is 65 — Greed
Current price: $2,222 pic.twitter.com/objfj0pBLY— Ethereum Fear and Greed Index (@EthereumFear) January 3, 2024
Ethereum Price Analysis
At the time of writing, ETH is trading at $2,227.82. Additionally, it marked a -6.35% decline in the last 24 hours, adding to the -6.67% losses in the previous week and in contrast to the slight rise of -0.84% in the last 30 days.
At the same time, TradingView’s technical indicators for Ethereum show neutral sentiment.
