Ethereum (ETH) Price Prediction and Analysis in April 2020
We will be examining the historical prices and market opinions for ETH in order to issue an Ethereum price prediction for April 2020.
Ethereum is the most well-known and used blockchain-based smart contract platform in the industry.
ETH is the platform’s native crypto, which is ranked as number two according to a market capitalization of $17,637,374,901 and a trading price of $159,58, with an increase of 1.36%. There are currently 110,524,976 ETH in circulation. A total volume of $15,396,894,211 worth of ETH has been traded in the last 24 hours.
Ethereum Price Prediction: Analysis
On March 12th, ETH dropped from $194,74 to $111, like the rest of the coins on the crypto market. The next day, the coin went below the $100 mark, trading at $95. Fortunately, the coin rallied up to close the day at $133,20.
Until March 16th, ETH was trading between $120 and $130 but then fell to $110. It continued trading around that value for a few days but then shot up to surpass $140. ETH continued trading sideways between $130 and $140, with ETH ending the month at $133,59.
ETH started April around that mark, but on April 5th, ETH started consolidating above the $140 mark. Since then, a bullish momentum started, as ETH broke new resistance levels day by day. On April 6th , it reached $169,14, and on April 7th , it touched $175,20.
After this epic weekly surge, ETH failed to break beyond the $175 resistance level. This led to a correction below $170 initially, but then the coin lost most of its gains on April 10th .
The current pivot, resistance, and support levels calculated by WalletInvestor are:
- Resistance Level (R3): 177.803
- Resistance Level (R2): 175.350
- Resistance Level (R1): 173.090
- Pivot Point: 170.637
- Support Level (S1): 168.377
- Support Level (S2): 165.924
- Support Level (S3): 163.664
According to DappReview, Ethereum-based DeFi projects have seen an increase of 778% over the past year. Nearly all these DeFi projects use ERC-20 tokens instead of the blockchain’s native ether (ETH).
The transaction volume of ETH-based dapps surpasses $5.6 billion, which signifies an increase of 650%. 80% of this volume is derived from ERC-20 tokens, mainly those used on exchanges and finance apps. These dapps represented transaction volumes of $2.34 billion and $2.95 billion, respectively.
Ethereum’s founder Vitalik Buterin stated recently in an interview that the ETH 2.0 launch was in its final stages.
Ethereum Price Prediction: Market Opinion for April 2020
A number of crypto forecasting sites have published their own Ethereum price prediction for April 2020, and in order to offer an accurate depiction of the market sentiment around this coin, we decided to incorporate some of the most relevant ones.
Longforecast expects that ETH will have a maximum price for April of $240, while the minimum price has been calculated at $129. The month’s average price was estimated at around $176. It is expected that ETH will close the month at a price of $201, change for April 51.1%.
Digitalcoinprice’s Ethereum price prediction for April sees the coin will reach $282.51, which means an increase of 78.27%.
Coinpredictor expects Ethereum to increase in the next 7 days with +0.4%, placing the coin at a price of $142.16. ETH is expected to rise by 69.3% towards the end of April, which would mean a price of $239.71.
WalletInvestor made predictions for the next 10 days of April, along with the minimum and maximum values of each particular day.
|Date||Price||Min Price||Max Price|
Gov.capital forecasted that Ethereum would be trading at $248 at the end of April, with a maximum price of $286 and a minimum price of $211.
Cryptorating’s Ethereum price prediction for the next day is $176.49, with a change of 10.82%. The site estimates that, in one week, the coin will trade at $117.75, which means a decrease of -26.06%. Towards the end of the month, ETH is expected to close at $89.72, with a decrease of -43.66%.
Cryptoground forecasted that, in one day, ETH will be trading at $201.1750 with a change of 27.69%. In a week, the price of ETH is anticipated to be around $204.6000, with a change of 29.86%. ETH is expected to have a closing price of $202.7734, which signifies a change of 28.70%.
30rates issued an Ethereum price prediction for every day of April (without the weekends), along with the minimum and maximum prices of each day. The site predicts that on the last day of April, ETH will have a minimum of $187, a maximum of $215, and a closing price of $201.
Altcoinforecast predicted that, on April 30th, ETH will be trading at a price of $174.
Ethereum Price Prediction: Verdict
We have gotten the conclusion of our Ethereum price prediction for April 2020. We hope that the material we offered here will be of help to you in your upcoming ETH trading actions.
Featured Image: cryptocoinspy.com