Artificial Intelligence Predicts ETH Price Growth By January 31st – Cryptonium News

Artificial Intelligence Predicts ETH Price Growth By January 31st

Machine learning methods from cryptocurrency forecasting portal PricePredictions predict that Ethereum will be worth $1, 315 on January 31, 2023.

Technical analysis indicators such as the conditional strength index (RSI), Bollinger bands (BB), moving averages (MA), and moving average convergence divergence (MACD) allowed the artificial intelligence to calculate an increase in the value of ETH using 5.1. % by the end of the month.
30-day forecast of the value of ETH. Key: price prediction

On the night of January 6, Ethereum was trading at $1, 264, up 0.23% over the past 24 hours and up 5.2% weekly with a market cap of $152 billion.

Daily ETH price chart. Key: FINVOLT.

Despite the massive price correction that followed the collapse of FTX, Ethereum has tested far more than any other altcoin. It is important that ETH continues its macroeconomic recovery in order to recoup its own costs.

TradingView’s technical analysis indicator on the overnight indicator looks bullish going forward. The detector reacts to “buy” sentiment at 12 and the moving average shows “buy” sentiment at 9. Finally, the oscillator is at 6, indicating a “neutral” degree.

ETH Sentiment Indicator for the day. Key: TradingView

Following the September 2022 merger, the Ethereum network will undergo another major update in Shanghai in March 2023. The main thrust will be a reduction in cost to value 2 conclusion, and along with that, ethereum transactions will be faster and more profitable.

Additionally, data storage and retrieval will be improved and historical block hash data will be removed from contracts. This update should ensure the withdrawal of ETH when stuck and the unblocking of blocks imposed on contracts.

Analysts believe the update will be bullish for the value of the cryptocurrency, which currently ranks second in market capitalization. Unable to load all totals. Retry…