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Moon or Doomsday: What's Next for Ethereum?
Current Trends and Predictions Regarding Ethereum Price Markets are evenly divided on whether the cryptocurrency will reach $3,000 or fall to $2,000 by the end of the year.
Recent technical indicators indicate pressure on Ethereum price and a short-term decline is likely.
The price of Ethereum is hovering around $2,500 in June, which raises the question in the minds of investors as to what will be the next step for Ethereum?
A market opened on June 19 on the prediction market “Myriad,” developed by DCrypt’s subsidiary Dastan, which offered two possibilities for Ethereum’s future:
Reaching $3,000 or falling to $2,000. Here, investor opinions are almost equal, with 51 percent predicting a price drop while 49 percent expect the price to rise.
This balance reflects the uncertainty in the market, where neither buyers nor sellers are in the lead.
Ethereum is the second-largest cryptocurrency after Bitcoin, with a market capitalization of $293 billion.
In addition, it is the only cryptocurrency for which spot ETFs are available in the US market.
Recent network upgrades such as the Pictra upgrade have increased the network capacity and the number of validators, but there is still confusion in the market about the stability of the price.
According to technical analysis, the price needs to increase by about 23%, while an 18% decline in the price seems easy to reach $ 2,000,
The Average Directional Index (ADX) is at 22, which is below 25, which means there is no clear trend in the market, the Strength Index (RSI) is at 49.7, which is neutral, while the 50-week moving average is above the 200-week moving average, which is a positive signal technically, but the gap between the two is narrowing, indicating weakening strength,
Overall, technical analysis suggests a cautious approach regarding Ethereum’s next move,
The $ 2,200 support and $ 2,800 resistance are key, which will determine the next major trend,