The price of the second most valuable cryptocurrency on the market, Ethereum (ETH), is influenced by too many factors, soinvestors decided that only artificial intelligence (AI) could predict the future price of an altcoin.
Indeed, AI is capable of analyzing hugevolumes of data and quickly identify graphical patterns and trends. To forecast the price of Ethereum at the end of 2023, the financial forecasting platform CoinPriceForecast used machine learning technology.
All things considered, by mid-2023, the price of ETH will exceed $2,000 and reach $2,146 by the end of the year, which means a 31% increase from current values.
Ethereum price forecast for the end of 2023. Source: CoinPriceForcast
Technical indicators on one-day indicatorsThe TradingViews are bullish, with the summary in strong buy at 17, while the moving averages point to strong buy at 14. The oscillators point to buy at 3.
Ethereum daily indicators. Source: TradingView
Meanwhile, crypto trading expert Michael vande Poppe believes $1,600 is a good level to look for long positions in Ethereum, with the digital asset likely to continue its upward trend.
Longs on Ethereum. Source: Michael van de Poppe.
Finally, the Ethereum “Shanghai” update on Sepolia, scheduled for February 28th, could also push the ETH price higher.
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