Ethereum price forecast for today, February 3, 2023
With a price that constantly exceeds $1,500, Ethereum (ETH) has been gliding across the market with ease. Because of this, the total market capitalization of all cryptocurrencies around the world went up, from $1.04 trillion yesterday to $1.05 trillion today, an increase of 0.91%.
Even so, traders don’t appear keen to make any significant offers prior to the US Federal Reserve’s announcement. This post will focus on predicting Bitcoin and Ethereum prices, in addition to discussing the current US Federal Open Market Committee (FOMC) and Fed rate.
Since the beginning of this year, the cryptocurrency markets have been stable and flashing green. This may be because the Federal Reserve has taken a dovish stance, which means they don’t want to raise interest rates.
Related: ETH Price Prediction: Ethereum Price Today, January 21, 2023
Along with the upcoming Federal Reserve interest rate hike, the fact that DekaBank and Metaco have agreed to start selling digital assets to institutions will have a big effect on the cryptocurrency market.
Today’s ETC USD date: 01 $ 1,679.45 Ethereum Price Prediction
Ethereum’s price today is $1,572.48 and its trading volume over the previous day was $6.2 billion. Since then, its market value has decreased by 0.03%, keeping it in second place on CoinMarketCap with a value of $192 billion.
Technical analysis suggests that Ethereum may experience a positive reversal once it reaches the double-bottom support level of $1,540. On the plus side, challenges continue because of intense opposition close to the $1,600 mark. If it overcomes this obstacle, ETH may reach a high of $1,625.
If the $1,540 level of support breaks down, the price could fall even further, all the way to the $1,500 level.