While the current Ethereum price prediction as per the rest of the market may seem bearish, TCR’s neural network backed price prediction paints a different picture for ETH price.
ETH price traded below $3,000, close to $2700 at press time. Ethereum price also saw a 2.8% pullback on the daily chart. Short-term momentum might seem bearish but mid-short term prediction by TCR’s AI price prediction model aims for a solid jump to $3200.
Ethereum Price Action – The Coin Republic’s Price Prediction Model
With $3200 acting as a strong support throughout the beginning of this year, The Coin Republic’s ace price prediction model suggests a revist of that zone soon.
In addition, ETH accumulation by whales and institutions over the last few weeks has added to the bullish waves pushing ETH price to $3200. Amid signals from TCR’s price predcition models for higher gains, it’ll be key to watch other technicals and see where Ethereum price is headed.
As per data from The Coin Republic’s Price Prediction model ETH price is expected to hit $3200 in the short-term. TCR’s Price Prediction model incorporates AI fundamental analysis, technical analysis, on-chain analysis, quantum computing. Moreover, the model has previously accurately predicted price for Bitcoin and Ethereum.
The current price prediction for Ethereum is $3200 as per TCR’s price prediction model.
The prediction chart above shows that if the forecast price level of $3100 is breached a push to the potential high of $3200 could be in store for ETH price.
The previous price action prediction clearly shows that the true price action has mirrored the prediction model.
Technicals Heat Up For Ethereum Price
The TD Sequential indicator depicted a buy signal on the weekly chart, suggesting a potential market turnaround.
Technical market indicators show a positive outlook for ETH, and it may challenge vital price barriers in the coming weeks.
The token was trading at $2699 as of press time.
The TD indicator on the ETH price chart signals an approaching major market upward trend. Ethereum shows historical evidence of repeating upward movements after bouncing from these signal points, supporting an upcoming price increase.
Ethereum’s Key Support and Resistance Levels
Ethereum is showing positive signals on its daily price chart.
Since hitting its local low of $2,100, it has stabilized near $2,700. The price floor area ranging from $3,200 to $3,300 has proven effective as a support zone multiple times in the previous months.
A clean price above $3,000 will establish a base for retesting $3,200 while validating a potential gains expansion.
Additionally, the Ethereum price recovering above $2,900 opens the gates for Ethereum to rise towards $3,200 – $3,300 resistance.
However, an unsuccessful breakout might restore bearish pressure to $2,500, eventually reaching the $2,000 support level.
What Market Data Says
Market data shows Ethereum gained 2.30% last week while maintaining a -16.77 % decrease during the recent month.
The bearish sentiment in ETH continues to strengthen based on its 12.28% price decline during three months.
The six-month price movements indicate neutrality toward positive results with a +0.81% change as Ethereum stabilizes.
This could represent an accumulation phase before a pump towards $3,200. Ethereum has achieved a +837.32% growth in its value over five years, making it one of the most profitable assets for long-term investments despite its negative 3.39% year-on-year performance.
Institutional Accumulation Adds Confidence
As earlier reported, organizations remain essential as the main drivers behind Ethereum’s future development, as World Liberty Financial recently obtained 5 million.
Initially, the firm obtained $10 million in ETH funds while raising its ETH holdings to 66,239 ETH. These are currently worth $225 million.
The power of institutional investments in ETH keeps building momentum. This is especially owing to Ethereum ETFs, which have seen massive inflows.
Large holding addresses within the Ethereum network demonstrate a potential buying trend since they keep building up their ETH holdings.
Arkham Intelligence data shows Ethereum whales have increased their buying habits by accepting substantial inflows in their wallets over the past few days.
This amount of smart money investment for a potential price breakout enhances the bullish forecast.
