Artificial intelligence predicts the value of Ethereum cryptocurrency at the end of November

Cryptocurrency analysts at Finbold turned to the PricePredictions artificial intelligence system to predict the price of the main altcoin on November 30. The algorithm determined that Ethereum would cost $ 1,903 at the end of the month.

At the time of writing, ETH is trading for $ 1,800, and the AI forecast suggests a $ 100 increase in the token’s value. The assessment obtained using several important technical analysis indicators: moving average (MACD), relative strength indicator (RSI), Bollinger Bands (BB), and average true range (ATR), indicates that the cryptocurrency will continue to rally.

However, the expected growth of the ETH price during November is much more modest than what was seen in the second half of October. This is in line with recent developments in favor of Ethereum bears. On November 2, there were reports of the launch of the ProShares Short Ether Strategy, an exchange-traded fund for ethereum futures designed to generate the inverse daily return of the CME Standard & Poor’s CME Futures Index.

On the other hand, CoinCodex’s algorithms predicted in October that ethereum would end 2023 in a significant plus. Back then, the artificial intelligence estimated that the ETH price would be $ 2,553 on December 31. During the second half of October, the ETH price showed good results and grew by more than 5% during the month.

As a reminder, according to cryptocurrency holders, ethereum is the world’s most promising token. This is evidenced by a CoinShares survey, where 45% of participants consider Ethereum to be the most promising digital asset. The first cryptocurrency by capitalization took second place — only 39% of respondents believe that BTC has the greatest growth potential. Another 6% preferred Solana SOL, and 5% of investors see no prospects in any of the virtual assets.