IMPORTANT POINTS:
- Ethereum has accumulated a drop of more than 6% in the last week and is currently trading above $2,230.
- According to the artificial intelligence of the CoinCodex platform, ETH will close the month at USD 2,285, which represents an increase of just 2.5%.
- Crypto analyst Michael van de Poppe believes that the cryptocurrency is preparing to rise to a range of $3,000 and $3,500 soon.
The past two days have seen selloffs in the cryptocurrency market, with Ethereum and Bitcoin dragging down the industry. Some altcoins plummeted by 10% in just 24 hours.
However, this could soon change based on the CoinCodex platform’s AI-powered machine learning algorithms.
The artificial intelligence determined that there will be no major changes this month and that Ethereum will close January at $2,285, from the $2,230 it is currently trading at. This represents an advantage of 2.5%.
You can also see the estimates that IA made for the next three, six and twelve months with the following prices:
What do Ethereum analysts think?
The MVRV indicator, which evaluates whether the existing price is higher or lower than the perceived “fair value,” was used by analyst Ali Martínez and detected that the next target prices for ETH are $3,850 and $5,100.
Expert Michael van de Poppe also highlighted that the cryptocurrency will continue its bullish trend and reach the $3,000 and $3,500 range soon.
Finally, it is worth clarifying that the current market sentiment recorded by the fear and greed index towards Ethereum is in the greed section , standing at 65, according to the latest data retrieved on January 4.
