October 30 Ethereum Price Prediction: Bulls Defend 1,800 Dollars Support – Is a Breakout Beyond 2K Dollars Imminent?

Crypto News- Ethereum (ETH) has been demonstrating a persistent bullish trend, maintaining strong support above the $1,800 mark in recent days. Many investors are adopting a long-term perspective on Ethereum, securing their positions in anticipation of the next bullish market phase.

Notably, corrections have become less pronounced, making October one of the most bullish months for Ethereum. The sustainability of these long positions is of paramount importance, as it is likely to drive Ethereum’s price closer to the $2,000 threshold, with the potential for a subsequent recovery phase targeting $3,000.

October 30 Ethereum Price Prediction: Bulls Defend 1,800 Dollars Support – Is a Breakout Beyond 2K Dollars Imminent?

Regarding the anticipated timeline for Ethereum to reach $2,000, the Moving Average Convergence Divergence (MACD) indicator indicates that the uptrend for ETH is far from exhausted. A significant turning point was observed on October 20 when the blue MACD line crossed above the red signal line, providing a clear buy signal for Ethereum.

Should these long positions remain open and attract additional trader interest, the climb to $2,000 appears to be an inevitable outcome. Additionally, the 21-day Exponential Moving Average (EMA) reinforces the bullish outlook as it crosses above the signal line, forming a golden cross pattern. This golden cross pattern typically suggests that the path of least resistance is upward.

Having recorded an 8% increase in the past week, Ethereum’s current price stands at $1,816 during US business hours. The sustainability of this uptrend is contingent upon the support at $1,815 being maintained by bullish traders.

In the event of a brief pullback, ideally toward the $1,800 level, this could serve to build the necessary momentum for the subsequent push beyond $2,000. Such a correction might offer sidelined investors an opportunity to acquire Ethereum at a more favorable price point while anticipating a larger breakout beyond the $2,000 mark.

Should the pullback induce fear among traders, leading them to sell in order to lock in their gains, the 200-day Exponential Moving Average (EMA) at $1,714 is positioned to absorb the selling pressure. Additional support can be found at $1,680, just below both the 21-day EMA and the 100-day EMA.

Within the Ethereum ecosystem, the decentralized finance (DeFi) sector has seen significant expansion, largely driven by Ethereum’s transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism.