Ethereum Price Prediction: Can ETH Stay above $2K?

Quick overview

Along with the rest of the cryptocurrency market, Ethereum (ETH) dropped on Tuesday after President Donald Trump announced that the deadline for the ceasefire with Iran had been extended.

A new deadline and no clear end in sight for the Iran war this week was a heavy blow to equities markets and cryptocurrencies, and Ethereum fell 2.55% Tuesday on the news.

Investors should know the ETH rate is very volatile right now and will likely fluctuate sharply on updates from the Iran conflict. The coin’s value is fragile, as is the wider crypto market, and Tuesday’s new 8pm deadline for the Iran ceasefire could bring more fluctuations to the ETH price.

Ethereum More Bearish Than Bullish

We anticipate a downtrend for Ethereum this week. The coin hit a high of $2,357 (ETH/USD) last month, and it has only managed a high of $2,163 this month. Investors should expect the coin to fall further in the coming days as selling pressure escalates over the Iran conflict.

Without positive upward force, Ethereum has little chance of regaining last month’s high anytime soon, and investors are worried about the effect of the lengthy fighting in the Middle East. They should be, since extended conflict causes inflation to increase and makes it harder for investors to find the extra money to put into assets like Ethereum and other crypto coins. Instead, consumers have to pay higher prices for gas and are more risk averse during times of conflict.

For these reasons, we anticipate a bearish Ethereum in the coming days, and it is very likely that the coin will fall below $2K, which would be psychologically damaging. That significant level is open that Ethereum will most likely overcome once more in short order following a dip below that level. The coin has proven resilient in recent months, if not exactly bullish, and we expect that investors will try hard to keep the coin above $2K because of that value’s psychological significance.

ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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