Ethereum price prediction is completely based on technical and fundamental analysis

Ethereum is the second-largest cryptocurrency by market capitalization. It's also one of the best altcoins, and went on a massive bull run in 2021 and increased by almost $4,000 at its highest, reaching its current all-time high (ATH) of $4,840. The coin has made new lows since then, but the project's future has given investors hope of another price spike. But before we deep dive into our Ethereum price predictions, let's take an overview of Ethereum, specifically how much is 1 Ethereum right now and what is Ethereum's market cap. According to the latest Ethereum price forecast, the important question is, 'Can ETH cross $2k in October after deflationary turn?" From a technical perspective, ETH price now eyes a 35% rebound by the end of October after holding testing a key support level. This level is a rising trendline that has capped Ethereum's downside attempts since June 2022.

Ethereum Price Prediction

Ethereum right now is stuck at around $1300. However, experts say that the price of Ethereum will pump in the long run and ETH cross $2k seems possible. It is because NFT dominates Ethereum's market. As much as people did not like the NFTs, there is a ton of potential for growth in them. For example, as more and more people start to adapt their art and turn them into NFTs, the market will see a study boom in the future. Therefore, as the NFT market rises, the price of Ethereum will also boost because of the hype. 

Even though Cryptocurrency enthusiasts did not respond well to the NFT side of Ethereum, other aspects of Ethereum have the potential to pump by the end of 2022. 

Is Ethereum a promising cryptocurrency to buy today?

Is Ethereum a safe cryptocurrency to buy today? There is no right answer to this question. Your decision should be based on your analysis of Ethereum's core fundamentals and risk tolerance.

In terms of fundamentals, Ethereum is undoubtedly one of the best cryptocurrencies in the market today. It is used as a launch platform for all kinds of decentralized applications, ranging from DeFi to games and even NFTs. This means that despite the market volatility, there is a real demand for Ether tokens, the native currency of the Ethereum blockchain.

But even with these use cases, is Ethereum a good investment today?

There is a lot to love when it comes to Ethereum. One of Ethereum's most significant selling points is decentralization. Ethereum is highly decentralized, with millions of nodes securing the network. This has two advantages for the Ethereum network.

The first one is censorship resistance. In a world where censorship is becoming a major issue, a network that no one can stop is a good investment. Besides, thanks to its decentralized nature, Ethereum is also secure since it is almost impossible to take control of the network in a 51% attack.

These factors could see Ethereum grow in adoption over the years, and the same will reflect in the price of ETH.

Final thoughts

Ethereum price prediction was based on technical and fundamental analysis, as well as incorporating macroeconomic factors that could have a significant impact on the price. Ethereum is retracing to key support, but a bounce of it, followed by another bull run, is on the cards. The development of Ethereum 2.0 and the platform's rise in popularity have swung investor sentiment to bullish.

Undoubtedly, much of the crypto market is very bullish on Ethereum price predictions. Ethereum is an essential part of the crypto market and without it, many of the top applications and services that have risen to popularity in the last few years would not be here today.

Of course, not everyone feels the same and there are plenty of reasons some investors will not touch Ethereum. You don't necessarily have to agree with them, but you must hear them out. You should be fully aware of ETH price pitfalls as well as its benefits.