CAREFUL! Ethereum Price Correction soon…Don’t Buy ETH now?

In our last Ethereum forecast, we wrote about when you should Buy Ether. Prices were expected to correct lower after breaking the $3,000 price mark. However, Ethereum price has risen further without any correction. We expect that this correction shifted to a future time, which is soon. If you were considering to buy Ethereum today, you might want to WAIT. In this Ethereum price prediction article, we’ll show you exactly what might happen to ETH prices soon.

Will Ethereum price fall soon?

Since Ethereum price broke out of the falling wedge, it has risen by around 42% and has not experienced any major correction. There has only been one rise since March 14th, so a correction is slowly overdue. The target of the falling wedge was also completely processed a day ago, which is also an indicator that the Ethereum course could correct soon. The next correction, which could come at any time, does not necessarily have to be to the downside. This can also move sideways, which is why we do not necessarily assume that prices will fall sharply.


ETH/USDT 1-day chart showing the current rise in ETH prices
Fig.1 ETH/USDT 1-day chart showing the current rise in ETH prices – TradingView

Ethereum Price Prediction – How far should ETH price fall?

Since the area between $3,150 and $3,340 has often served as a resistance or support area in the past, we also expect a correction to the support zone here. This is the minimum goal we are aiming for. We could also see a correction down to the $3,000 psychological level. However, the support zone would have to be broken for this, which again is unlikely. After Ethereum’s price completes the correction by hitting either $3,150 or $3,000, the price could start a fresh increase. This surge could be the final rally to around $4,000 – $4,444. From this point, it gets exciting again. There the Ethereum price decides whether it will bullishly break out of the huge sideways phase between $2,000 and $4,444 or not. Should the price break out in a bullish way, prices around $6,000 are likely!

Ethereum price prediction: ETH/USDT 1-day chart showing the potential retracement of ETH
Fig.2 ETH/USDT 1-day chart showing the potential retracement of ETH – TradingView

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