ETH Price Prediction: Today’s Ethereum Price, 3rd Feb 2023

Ethereum (ETH) has been smoothly navigating the market, with a price that consistently exceeds $1,500. The worldwide crypto market cap has increased overall as a result, reaching $1.05 trillion today, a gain of 0.91% over the previous day.

Despite this, traders don’t seem eager to make any substantial offers before the US Federal Reserve makes its statement. In addition to discussing the present US Federal Open Market Committee (FOMC) and Fed rate, this post will concentrate on forecasting Bitcoin values and Ethereum prices.

The cryptocurrency markets have been steady and flashing green since the start of this year, which may be ascribed to the Federal Reserve’s conceivably dovish posture.

Along with the imminent Federal Reserve interest rate hike, an agreement announced by DekaBank and Metaco to start supplying digital assets to institutions will have a big influence on the crypto market.

Today’s Ethereum Price

Ethereum Price Prediction

Today’s price of Ethereum is $1,572.48 and the past 24 hours’ trading volume was $6.2 billion. Since then, its value has dropped by 0.03%, and it presently maintains rank 2 on CoinMarketCap with a market worth of $192 billion.

Once it reaches the double-bottom support level of $1,540, according to technical research, Ethereum could enjoy a positive reversal. On the upside, obstacles still exist because of strong resistance near the $1,600 level. If it gets past this barrier, ETH might go as high as $1,625.

If the $1,540 level of support fails to hold, it might lead to a further drop in price all the way to the $1,500 level.

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