(ETH/BTC price chart according to Blockfolio)
Here I will do my Ethereum Price Prediction on the basis of technical analysis. I do believe that ETH is a fundamentally strong platform that will be integrated more and more into business applications, but for the purposes of the price prediction, will use technical chart analysis.
Of course, disclaimer, please do your own due diligence and the opinions here are only of mine, not anyone else.
Price Prediction Looking at ETH/BTC Chart
One of the method I use to do price prediction is looking at ETH/BTC chart. Why? Because we need to factor in the BTC price change as ETH price changes as well. I know many people have differing opinions of the value of BTC, but at the moment, Bitcoin is king and all other alt coins prices are compared to BTC value.
As you can see from the chart above, the ATH for ETH/BTC chart happened in June 2017, at around 0.014 BTC. At that time, ETH was around 400 USD and then it corrected down to the 250-350 USD levels for the next several months up until December 2017's spike towards it's current value of around 900-1000 USD.
That's an impressive run.
According to this chart, ETH has the opportunity to still test it's old resistance of 0.014 BTC value ... which in today's value would be around 2,000 USD (with BTC's value equal to today of around 15,500 USD).
Price Prediction Looking at ETH/USD Chart
The other chart to check for price prediction is using the ETH/USD chart. While not my most favorite chart to us, it's still part of the overall technical analysis.
As you can see, ETH had built a flag pole that peaked at June 2017, and the flag pennant that squeezed out towards November 2017. Then in December, it spiked to create a new flag pole. I expect that correction will happen and potentially some kind of flag pennant will form (still to be determined what shape it will be).
The point where it broke out was right around the 300 USD mark. Today, it's hit up to 1,000 USD. That's a 700 USD difference. While we can't predict where the next flag pennant forms, but to extrapolate from there by adding the difference to the future flag pennant, ETH in theory could jump towards 1,500 USD in short term with long-term by end of year at 2,000 USD.
Anyone else here in long with ETH?
Where do you predict ETH's price to be this year?
Really depends on how fast they can get Casper to work, they announced it and I feel that added some attention to Ethereum. We are seeing so many opportunites busting open thanks to the ethereum network, with cryptokitties, ethertanks, etc... There are so many tokens that are already built on the ethereum blockchain. It's just a matter of time!
Yes, the ETH-related tokens I like to support include QSP and OMG!
we could see ETH run for some time, i'm eyeing for $1500 after my first tp hit at $1000
Yup, ETH definitely will hit and surpass 1,500 for sure!