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Reading: Assoc. Dr. Güvenç Koçkaya Evaluated ETH: Ethereum Price Towards New Targets
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EdaFace Newsfeed > Latest News > Altcoin News > Assoc. Dr. Güvenç Koçkaya Evaluated ETH: Ethereum Price Towards New Targets
Altcoin News

Assoc. Dr. Güvenç Koçkaya Evaluated ETH: Ethereum Price Towards New Targets

vitalclick
Last updated: November 9, 2024 10:45 am
5 months ago
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One Ethereum $3,042 As an investor, I believe that just as it is said that 1 Bitcon = $1,000,000 in 2030, as I have stated in my articles since 2017 and as confirmed by many analysts after ETFs, it is possible to say that 1 Ethereum = $100,000.

Although this is a long-term strategy, I will examine where Ethereum will go, what will happen, and what kind of pricing it will be for the investor in the short term, in this article.

Ethereum price recently broke above its 200-day moving average.

I find this exit important as an Ethereum investor. Let’s take a look at what happened when the price rose and held above the 200-day moving average in the last 5 years.

When cryptos began to decline after the 2018 peak, the Ethereum price also followed this process and its price dropped from $ 1,400 to around $ 150. In April 2019, it rose above the 200-day moving average price with a daily close of around $160. By the end of June 2019, it reached its peak of $340. From here, a downward movement started again and the price broke the 200-day average downwards.

With this decrease, the price dropped to around $100. Ethereum, which started to strengthen around $100, broke the 200-day moving average again at the end of January 2020, around $160. After reaching a peak of $300 in March 2020, the price continued to decline. Unfortunately we were still in crypto winter.

In April 2020, the 200-day average, this time around $170, was broken, and with the opening of the crypto bull season, Ethereum reached its historical peak of approximately $4,800 in November 2021, almost breathlessly, without falling below the 200-day moving average.

With the onset of crypto winter, the price dropped to around $1,000. In January 2023, it entered an upward trend again by closing above the 200-day moving average at around $1,300. The price, which peaked at around $2,000 in April 2023, started to decline.

The price recovered after hitting the bottom around $1,500 and started to move towards its new peak in October 2023, jumping above the 200-day moving average around $1,700. After seeing a new peak around $4,000 in March 2024, the price started to decline.

As can be seen, according to Ethereum Technical analysis, the price rises above the 200-day average at regular intervals and reaches a peak. After this peak, it swings down, recovers and makes a similar move again. If we summarize these movements;

  • April 2019 – June 2019 : 112%
  • January 2020 – March 2020 : 87%
  • April 2020 – November 2021 : 2700%
  • January 2023 – April 2023 : 53%
  • October 2023 – March 2024 : 135%

When we look at this data, Ethereum has exceeded the 200-day moving average 5 times in the past 5 years. While this movement provided a return of at least 50% and at most 135% during the crypto winter, it increased 27 times during the crypto bull season.

As we mentioned at the beginning of our article, Ethereum recently crossed the 200-day moving average at around $3,000, starting with its bottom price of around $2,200. If the price stops here permanently, we can say that the Ethereum price could be around $4,500 to $7,000 considering that we are in the crypto winter when we look at historical data. If we say that we may be in a crypto bull season, we may be talking about values ​​that we cannot write here.

However, we can still say that we are taking firm steps towards our goal that we stated at the beginning of our article;

year 2030
1 Bitcoin $76,601 : $1,000,000
1 Ethereum: $100,000

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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