Are you a regular follower of the decentralized finance space? Have you been closely tracking Ethereum and the projects related to it? If the answer is yes, then this post is for you, where we will be looking into the price predictions for Ethereum in 2023/24. Even as a majority of crypto investors are expecting further macro lows following the crypto winter of 2022, Ethereum might be recovering soon.
Ethereum has become the second largest cryptocurrency in very less time. Some enthusiasts even vote for it to overtake Bitcoin and become the largest sought after cryptocurrency in the space. The Ethereum Foundation has been fuelling projects related to decentralized finance for a long time. Many up and coming dApps, NFTs, and metaverse-based projects are based upon the Ethereum blockchain, which is why the global crypto trading community might see good times for Ethereum in 2023.
Considering both bullish and bearish sides, there are varied Ethereum price predictions in 2023-24. Let’s go through some of them in this article.
Ethereum Price Prediction 2023-24: Analyzing Ethereum’s Performance
In 2014, ETH was officially launched and 50 million ETH were sold at about $0.31. Until 2017 ETH was between the price range of $0.5 to $21. It was in 2017 that the bull run first pushed ETH over $100 and since then the currency picked up pace. In June 2017, ETH reached $414 and after consecutive correction, 2018 was the year that the currency reached its then all time high of $1418. Since then, ETH has constantly been supported by great projects under the network.
Crypto enthusiasts have been backing ETH for its approach towards spreading decentralization. In 2022, the whole crypto market went through a bearish phase, taking ETH to just above $1000 by the end of the year from over $4500 in 2021.
In the crypto bear run of 2022, Ethereum lost about 67.50% of its value. While many had expected 2023 to start off on a low note following the pattern noted in 2022, the new year brought a change in trader sentiments, leading to upward price action. In the first one and a half months of 2023, Ethereum has already rallied by as much as 43.5% from its 2022 close, and the ETH prices are up by about 29% YTD as of mid-February.
Ethereum’s movement in the market has been largely dictated by the projects that are created on the blockchain. Ever since the Ethereum foundation shifted the blockchain to a PoS consensus mechanism through Ethereum Merge in September 2022, a lot of experts have been expecting a rise in its price. Let’s get into all the Ethereum price predictions for 2023/24 to understand how Ethereum may move this year.
Ethereum Price Prediction 2023-24: The Shanghai Upgrade Prediction
So what’s the Ethereum price prediction 2023-24? Since the Merge in September 2022, times have been considerably better for Ethereum. The currency had been able to hold its own in the bear market because of increasing interest from institutional investors, along with retail ones. The shift to a proof of stake consensus mechanism has helped the network cut down energy usage by about 99.5%, boosting investor confidence.
In 2023 as well, the currency has shown good developmental activity. The Shanghai Upgrade due in March 2023 is a positive sign for the currency, after which stakers will be able to withdraw their assets staked since as early as December 2020. This activity has been able to promote investor confidence even further. If the current uptrend continues, we may soon be seeing Ethereum rising back up to the $2000 within the first half of 2023. In the second half of 2023, the rally may continue, sending Ethereum hiking up to a resistance around $2400.
Ethereum Price Prediction 2023-24: How Will Ethereum Perform between 2023-24?
Ethereum has been able to make its image as the altcoin king and some even call it the Bitcoin killer. Social dominance has proven useful for Ethereum since 2018. In 2021, ETH proved to be a significant part of the crypto community by showing a positive growth up to over $4500. The social outlook for ETH looks good as well since a lot of crypto enthusiasts and veteran investors are actively looking at the growth of ETH currently.
At the middle of February 2025, Ethereum is trading slightly below its 20-day EMA ($1567) but over its 50–day SMA ($1503), with the RSI value of 49 showing neutral signals. Even accounting for data prints like February 14 US CPI report and the general economic uncertainty around the globe at the moment, realistic long-term price predictions suggest that going from the $2400 around levels by the end of 2023, Ethereum may touch and hold on to the $2500 range, ending the year at about $2700.
Going forward, Ethereum price predictions from Wallet Investor suggest that ETH could be around $5900 by 2027.
Conclusion
We have seen how the major network upgrades and the investor confidence have been able to support ETH in its upwards journey. But all of this cannot stand for a completely accurate Ethereum price prediction in 2023-24. Which is why doing your own research before you go into crypto trading and investing in Ethereum is absolutely necessary.
Good luck trading!