- Over $1 billion worth of Ethereum hit exchanges in March 2024, ahead of the Dencun upgrade.
- Whales have consistently taken profits on their Ether holdings, to the tune of $7.36 billion in March.
- ETH price could correct to $3,622 as technical indicators turn bearish and signal decline in Ethereum is likely.
Ethereum (ETH) price is at a risk of decline, according to technical indicators and on-chain metrics. A large volume of Ether hit exchanges in March, and ETH holders realized over $7 billion in profits. The altcoin is trading sideways, with Ethereum price at $3,922 at the time of writing.
Also read: Base and Optimism become cheaper than Solana as Ethereum Dencun upgrade empowers L2 chains
Ethereum price at risk of decline: On-chain perspective
Crypto exchanges have noted Ether token inflows worth $1.02 billion in March 2024. The mass inflow of Ethereum is accompanied by profit-taking activities of large wallet investors. The chart below shows the inflow spikes throughout March.
Supply on exchanges and Ethereum exchange flow. Source: Santiment
Data from crypto intelligence tracker Santiment reveals that there have been spikes in whale transactions valued at $100,000 and more. Whales have likely realized gains consistently in Ethereum’s uptrend, as shown in the Santiment chart below.
Whale transactions valued at $100,000 and higher, Network Realized Profit/Loss. Source: Santiment
On-chain metrics signal there is likely an increase in selling pressure on ETH and Ethereum price could crumble if holders continue realizing gains in the coming weeks and months.
Ethereum price could nosedive to $3,600: Technical analysis
Ethereum price hit its 2024 peak of $4,093.92, on March 13, following the successful rollout of the Dencun upgrade. As Ethereum rallied towards its new year-to-date high, ETH holders kept up their profit-taking. Technical indicators reveal there is a potential for a correction in Ethereum price if demand from traders fails to push ETH price higher.
A nearly 8% correction is likely in Ethereum, ETH price could nosedive to $3,600, the midpoint of the Fair Value Gap (FVG) identified on the ETH/USDT weekly price chart. Once Ethereum sweeps support at $3,600, the altcoin could make its way back to the range high at $4,093.92.
There is a bearish divergence in the Relative Strength Index (RSI) on the 1-day chart, and there are red bars on the Awesome Oscillator (AO). The technical indicators signal Ethereum is likely at the risk of decline, facing a potential correction.
ETH/USDT 1-day chart
If Ethereum price fails to bounce off the $3,600 level, the altcoin could drop to support at the lower boundary of the Fair Value Gap at $3,522. Such a move would imply over 10% correction in Ethereum.
(This story was corrected on March 14 at 14:37 GMT to say, in the first bullet point, that over $1 billion worth of Ethereum hit the exchanges in March, not over $1 million.)
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FAQs
Generally, when the U.S. dollar strengthens and yields on safer investments like Treasuries rise, investors shift their funds away from riskier assets, including cryptocurrencies, in search of more stable returns. This leads to a decrease in demand for Ether, causing its price to fall.
Will Ethereum ever go back up? ›
By the year 2025, Ethereum is expected to reach the maximum level of $6,500 with a minimum of $ 4,500 and an average of $5,500. And by the year 2030, it is expected that it may go up to a maximum of $20,500. The current year will witness the Dencun upgrade, which is anticipated to positively boost the value of ETH.
How much will 1 Ethereum be worth in 2030? ›
Ethereum (ETH) Price Prediction 2024-2040
| Year | Minimum Price | Maximum Price |
|---|
| 2030 | $38,664.13 | $47,066.29 |
| 2031 | $56,588.34 | $67,571.24 |
| 2032 | $87,586.24 | $98,973.10 |
| 2033 | $126,956.30 | $150,114.99 |
8 more rowsETH Price Prediction 2025
Moreover, with increased adoption and the demand for ETH, the ETH coin price can create a new all-time high $14,925. However, on the flip side, the ETH coin price can dip to $8,917, with an average ETH price of $10,421.
Why is Ethereum so down? ›
Why Is Ethereum's Price Declining? After 11 spot bitcoin ETFs received approval in January, many believed that spot Ethereum ETFs would be approved soon after. However, over the past several months, there has been significant uncertainty surrounding the approval of the ETFs.
What will Ethereum be worth in 2024? ›
Ethereum Price Prediction 2024
Ethereum's predictive research for 2024 suggests a forecasted ETH trading range between $3459.88 and $5515.71.
What will Ethereum be worth in 5 years? ›
Ethereum (ETH) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 3,889.48 |
| 2026 | $ 4,083.95 |
| 2027 | $ 4,288.15 |
| 2030 | $ 4,964.07 |
1 more rowWhile Ethereum can hit $100,000 after 2030, it is not realistic to expect ETH to reach 100k before 2030. It's nearly impossible. There is no path for Ethereum to hit 100k before 2030, it's impossible. ETH can realistically hit $10,000 in the coming years, either in 2025 or in 2026.
Which crypto will boom in 2024? ›
Top 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Solana (SOL) | $79 billion | $198 |
| Ripple (XRP) | $29 billion | $0.52 |
| Dogecoin (DOGE) | $23 billion | $0.16 |
| Tron (TRX) | $9.9 billion | $0.11 |
6 more rows3 days ago
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2024 | $ 69,710.83 |
| 2025 | $ 73,196.37 |
| 2026 | $ 76,856.19 |
| 2027 | $ 80,699.00 |
1 more rowOverall, Bitcoin focuses on being a digital currency and store of value, while Ethereum provides a robust platform for creating and executing transactions that facilitate the movement of value.
How much will 1 Ethereum be worth in 2040? ›
1 ETH would be worth $12,212 in 2040 based on a 11.8% yearly growth rate. Calculate your potential ETH profits with our Ethereum profit calculator. This is a much more realistic scenario, as it would translate to a $1.4 trillion market cap for Ethereum.
What is the realistic price prediction for Ethereum? ›
We now see ETH network revenues rising from an annual rate of $2.6B to $51B in 2030. Assuming ETH takes a 70% market among smart contract protocols, this implies a token price of $11.8k in 2030, which we discount to $5.3k today at a 12% cost of capital derived from ETH's recent beta.
What is the highest price Ethereum can reach? ›
ETH's price could climb past its all-time high in 2024 and hit $7,840. While the price might decrease in 2026 and 2027, ETH could reach $12,000 in 2028. In 2030, analysis showed that the price of ETH might get close to $20,000.
How much will 1 bitcoin be worth in 2030? ›
Bitcoin Overview
| Year | Minimum Price | Maximum Price |
|---|
| 2030 | $764,391.55 | $907,823.21 |
| 2031 | $1,077,841.21 | $1,309,556.03 |
| 2032 | $1,556,210.36 | $1,890,559.93 |
| 2033 | $2,330,561.92 | $2,724,386.53 |
8 more rowsA potential delay to the launch of the ETFs and scaled back expectations for interest-rate cuts look to be hurting the crypto sector. Bitcoin has fallen 3.5% over the last 24 hours to $67,382. Ether —the second-largest crypto—was down 6.9% at $3,698 although it remained up more than 20% over the past week.
Is it worth investing in Ethereum? ›
As currently one of the leading cryptocurrencies with robust blockchain technology and wide adoption, many investors believe in its potential for significant long-term growth. However, as always, potential investors should carefully consider the inherent risks and volatility of cryptocurrency investments.
What crypto will explode in 2025? ›
7 Cryptos With Explosive 5X Potential by 2025
- Cryptos With Explosive Potential: Ethereum (ETH-USD) Source: viktoryabov / Shutterstock.com. ...
- XRP (XRP-USD) Source: Shutterstock. ...
- Cryptos With Explosive Potential: Cardano (ADA-USD) Source: Shutterstock. ...
- Dogecoin (DOGE-USD) ...
- NEAR Protocol (NEAR-USD)
