Crypto community with 94% historical accuracy sets Ethereum price for July 31

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CoinMarketCap cryptocurrency community price estimation is based solely on the votes of its users. Estimates do not guarantee month-end prices.

The price of Ethereum (ETH) rises in unison with the price of Bitcoin (BTC), slowly gaining ground as the broader market braces for the Consumer Price Index (CPI) reading scheduled for July 12.

If there is a steady increase in buying pressure, Ethereum might be able to breach the immediate barrier around $1,960 before bumping into the near-term $2,000 level.

As for the second-largest digital asset by market cap value for the end of the month, Finbold turned to the crypto community’s price estimates at CoinMarketCap, which has a historical accuracy of 93.54% on the Month-end price prediction for ETH based on estimates made over the past six months.

Notably, based on 501 votes as of July 11, Ethereum is estimated to be trading at an average price of $1,848, a marginal drop of 1.24% from the current cryptocurrency price.

Price estimates for ETH. Source: CoinMarketCap

The most recent prediction for late June made by the community had an accuracy rating of over 93%. Meanwhile, Finbold analyzed predictions from the machine learning algorithm on crypto monitoring and prediction platform PricePredictions which expects Ethereum to be $2,105 on July 31, 2023.

ETH Price Dynamics

Ethereum’s price has climbed 62% over the past year, surpassing 87% of the top 100 crypto assets over the same period. This includes Bitcoin’s outperformance over this period.

Currently, the price of ETH is trading at $1,875, up 0.42% and another 4.21% from last week, giving it a market value of $225 billion. .

Seven-day ETH price chart. Source: Finbold

On top of that, Ethereum price is now trading above its 200-day simple moving average, and there have been 16 green days in the past 30 days, which is a 53% increase.

Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.

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