They used the equation of exchange model to assess the future value of ETH by examining the future use case of the coin.
The model had predicted ETH to reach $331 later in 2020; however, the coin seems to have surpassed this mark well before.
It goes on to predict that by 2025 ETH will breach the mark of $3500.
Ethereum is showing a very similar pattern like Bitcoin and if this is true from all technical and fundamental analysis ETH can still have a significant rise in the price of 109% this year 2021
BTC/USDT Binance Chart
ETH/USDT Binance Chart
Despite a bearish divergence forming in day chart of ETH, it is still climbing up new heights ever week and soon to be expected to reach a new ATH
Technical chartists highlighted Ethereum’s latest upside move to validate a bullish pattern known as the Ascending Channel. Crypto YouTuber Lark David presented a diagram that showed ETH/USD maintaining a short-term price ceiling with a horizontal trendline.
Meanwhile, the analyst also noted a sequence of lower highs forming beneath the horizontal resistance, presenting it as a super-bullish outlook for Ethereum.
Ethereum’s latest upside move alarmed about a growing bearish divergence outlook on a daily timeframe chart.
So it appears, the ETH/USD exchange rate rose in defiance of its falling volume and depreciating momentum. Technically, it risked slowing down the prevailing uptrend at one point in time, which may follow up with a deeper retracement downwards.
More Technical Analysis for better ETH Price Prediction
A Good enough buy signal by Technical analysis summary of Ethereum / TetherUS Binance monthly chart
With 9 technical indicators, the oscillators on 1 month look neutral along with 4 BUY signal and 2 sell signals. Whereas if you look at the moving average on monthly chart will be find a STRONG BUY signal with 8 out of 8