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Synopsis: Ethereum’s current price is $ 2,607.39, with a 24-hour trading volume of $ 20.51B, a market capitalization of $ 312.66B, and a market dominance of 17.47 percent, according to CoinMarketCap. In the previous 24 hours, the price of ETH has climbed by 0.31 percent.
Ethereum hit its all-time high price of $ 4,867.17 on November 10, 2021, when it traded at its all-time high of $ 4,867.17. Since its all-time high, the price has dropped to $ 2,174.36. (cycle low). Since the previous cycle low, the highest price for ETH has been $3,277.99. (cycle high). At the moment, the attitude around Ethereum’s price forecast is pessimistic. The current circulating supply of Ethereum is 119.91 million ETH. Ethereum is now rated second in the Proof-of-Work category in terms of market capitalization.
As per today’s forecast, the value of Ethereum will climb 11.36 percent, reaching $ 2,904.37 by March 16, 2022, according to our current price projection for the cryptocurrency. Technical indications indicate that current mood is Bearish, while the Fear & Greed Index indicates that Extreme Fear prevails. Over the previous 30 days, Ethereum has had 11 of 30 (37 percent) green days, with a 6.83 percent increase in price volatility. According to our Ethereum prediction, it is now a horrible time to invest in Ethereum.
Based on today’s classical pivot point (P1), which has a value of $ 2,642.14, Ethereum has support levels of $ 2,548.22, $ 2,483.63, and the strongest at $ 2,389.71. The classical pivot point (P1) has a value of $ 2,642.14 today. Similarly, the resistance levels for Ethereum are $ 2,706.73, $ 2,800.64, and $ 2,865.23, respectively.
It is beneficial to look into the price history of Ethereum in order to have a better understanding of what might happen to the price of Ethereum in the future. The value of the ETH/USD pair has dropped by -16.24 percent over the past month. The performance of the ETH/USD pair over the last year has been 49.46 percent.
Technical indicators that take into consideration Ethereum’s previous price performance, as well as on and off-chain variables, may be used to forecast cryptocurrency values. Another method you may use is to evaluate the general mood of the market to determine if investors are enthusiastic or pessimistic about the future of cryptocurrency. Please keep in mind that no one can forecast the future with 100 percent accuracy, and that previous performance is no guarantee of future outcomes.
The increased number of ETH tokens invested in the staking contract is putting pressure on the Ethereum price, which is struggling to recover. So far, about 2 million Ethereum tokens have been burnt, causing investors to have an optimistic perspective for the future. It was announced that the total amount of Ethereum placed in the ETH2 staking contract had topped 10 million that the Ethereum price was expected to rise. The enormous rise in volume ensures that investors will get a set amount of ETH in continual staking payments as a result of the expansion.