If the value of Ether recovers in the coming weeks, the predictions could be neutral or optimistic. A sideways movement or a slight increase of between 10% and 15% might place the price between USD 1,200 and USD 1,450.
The price of Ether (ETH), the native token of the Ethereum network, suffered a sharp drop after the FTX crash. Over the last week, it has lost more than 20%, even above Bitcoin (BTC).
The following lines aim to predict what will happen to the price of Ether in the coming weeks.
Ether Has Dropped to around USD 1,100 over the Last Few Days
Over the last few days, the value of Ether suffered a considerable loss, falling from USD 1,600 to USD 1,100. After that, it slightly recovered to settle between USD 1,250 and USD 1,300.
The second-largest cryptocurrency by market capitalization has lost more than 20% over the last week. Its price rose further when Bitcoin reached above USD 20,000 again before the FTX crash. That event caused a dramatic drop in the crypto market, which caused Ether to lose its course.
The Collapse of FTX Causes the Price of Ether to Drop
The crisis on FTX triggered the collapse of the crypto market, causing the value of Bitcoin and altcoins to drop. It is relevant to know that Ether fell even more than the pioneering cryptocurrency.
That event caused the market to fall as bullish signals had increased in previous weeks. Since US inflation is declining, the Federal Reserve (Fed) may not raise interest rates.
Predictions about the Price of Ether for the Coming Weeks
The value of cryptocurrencies should recover in the coming weeks after the recent market collapse. If Ether stabilizes in the next few days, the predictions about its price might be neutral or optimistic.
However, that event has dramatically changed the outlook on Ether. Two weeks ago, the situation looked different as its price looked set to rise to USD 2,000. Although there could be rallies in the coming weeks, that would occur in much lower ranges.
The Price of Ether Might Rise to USD 1,450
Ether seems to stabilize between USD 1,250 and USD 1,300, which is crucial for the forecast in the coming weeks. If it remains like that for the next few days, there might be a slight increase in the short term.
However, November and December are usually quite bearish for the crypto market. Therefore, the price of Ether might not rise significantly before late 2022.
Over the coming weeks, there might be a sideways movement or a slight increase of between 10% and 15%. That would place the predictions about the price of Ether between USD 1,200 and USD 1,450 for the next few weeks.
Investing in Ether Would Be Worth It Following Its Stabilization
Many wonder whether investing in Ether would be worth it now, after the recent market collapse. They might argue that the decline in the price of the cryptocurrency has been too sharp.
The value of Ether should stabilize in the coming days, as it might still suffer further losses. After recovering, it might be worth buying the token at the current low prices.
The predictions about the price of Ether for the next few weeks might go up slightly. However, there should be other significant increases in late December and 2023.
By Alexander Salazar
