Like Bitcoin, Ethereum (ETH) has recently shown volatility, however, despite the general uncertain situation, the price of the altcoin remains above the critical support zone at exactly $3000. Part of the volatility can be explained by the increased activity of crypto whales, transferring significant volumes of tokens to the exchange. For example, on April 20, the tracking service Whale Alert tracked how 10,911 ETH worth approximately $33.52 million arrived at Coinbase. Currently, ETH is trading above the $3062.73 level, being in a bullish trend thanks to Bitcoin's jump to $65,000. On the weekly chart, ETH added about 3%, and many are interested in how the price of Ethereum will change in the coming days.
Seven-day ETH price chart. Source: CoinGecko
Ethereum price forecast using AI A model of machine algorithms of artificial intelligence (AI) on the CoinCodex platform tried to answer this question. According to her data, on May 1, Ethereum will be traded at $317.08.
ETH price forecast on May 1, 2024. Ictočnik: CoinCodex
It is possible to make it possible that it is a lot to eat for Ethereum, as if a boom -bomagam and bipjama (SEC), it is a good bite -to -go Efipa (ETF). If this product receives approval, its potential impact on the dynamics of the Ethereum market could replicate the situation with Bitcoin ETFs.
Key ETH Support Area to Watch Meanwhile, crypto analyst Ali Martinez believes that if ETH continues its downward trend, investors should watch closely behind the critical support zone between $2000 and $2430. In this range, approximately 9.37 million addresses purchased about 53 million ETH. A breach of this support zone could increase selling pressure and worsen the decline.
ETH inflow/output schedule. Source: IntoTheBlock/ali_charts
In addition, Ethereum technical indicators appear to be highly volatile. The one-day indicator of TradingView indicates a "send" position on the 13-point line, while similar actions occur in the sliding scale and the 10-point oscillator answerable.
This is not changing, I am not looking at the prevailing bearish attitude towards Ephium, the situation in the crypto market is changing.