Machine Learning Algorithms Set Ethereum Price on April 30, 2023

Machine Learning

As Ethereum (ETH) Fights to Hold Support Above $1,800, Crypto Traders and Investors Have No Indicators of Accelerating Growth in the Market’s Second-Biggest Asset Card by Market Capitalization I am watching carefully.

Based on current market analysis, recent closing prices at key levels may affect the price of ETH’s future performance. Specifically, the $1,671 support level acts as a key level of market interest. This is because it signifies a price point where the demand for the asset was previously strong enough to prevent further declines.If the price of ETH is above this level, the demand for the asset is still strong It could indicate a potential upward price trend.

On the other hand, the $1,911 resistance level could pose a significant challenge for ETH as it represents a price level that the asset has struggled to surpass in the past. It indicates a possible reversal of the uptrend in , which could lead to a downtrend.

Therefore, Finbold looked at machine learning algorithms in its crypto-tracking platform. price predictionCoincidentally, an algorithm using artificial intelligence (AI) technology predicts that Ethereum will trade at $1,823 on April 30, 2023, according to the latest data obtained on April 3. increase.

Ethereum price prediction for 30 days. Source: PricePredictions

Specifically, this estimation is based on technical analysis (TA) indicators such as Moving Average (MA), Moving Average Convergence Divergence (MACD), Bollinger Bands (BB), Relative Strength Index (RSI), and Average True Range (ATR). depends on others.

ETH price analysis

As it stands, Ethereum is trading at $1,806, down 0.92% on the day, but up 2.94% the week before, bringing its total market cap to $217.4 billion. increase.

Ethereum price chart for the week. Source: Finbold.

At the same time, Ethereum sentiment in the daily gauge of financial and crypto monitoring websites TradingView Bullish. That is, the summary suggests a BUY at 15 as the oscillator indicates a BUY at 2 and the moving average at 13 is in a ‘strong buy’ zone.

Ethereum daily price gauge.Source: Trading View

Ethereum’s on-chain and technical signs point to a bullish argument for ETH’s price in the short to medium term. Despite many unfavorable developments, including FTX failure, rising interest rates and tighter regulation in the US, Ethereum’s price has more than doubled since hitting a low of around $880 in June. doing.

Disclaimer: The content of this site should not be considered investment advice. Investing is speculation. Your capital is at risk when you invest.

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