Here’s Why Analysts Think Ethereum Will Soon Move Toward $800

Here’s Why Analysts Think Ethereum Will Soon Move Toward $800
фото показано с : newsbtc.com

2021-1-3 04:40

Ethereum has underperformed Bitcoin as BTC has pushed past $33,000 today. ETH is up 8% in the past 24 hours while BTC has gained over 11%.

Despite the relative underperformance, analysts soon think that Ethereum will catch up to the leading cryptocurrency. Analysts are targeting $800 in the short term as Ethereum moves past key resistance levels around $750.

Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment Ethereum Could Soon Hit $800

Ethereum could soon hit $800, analysts say. One crypto-asset analyst noted that the cryptocurrency has passed key resistance levels this morning and is thus prepared to move toward $800 as long as BTC holds $30,000. He wrote on the matter:

“Good it feels good to be a gangster, perfect wick down to our possible wick level at $718 and this morning with more power than originally expected… huge morning. Thinking $800 is on the cards in the next 12 hours, if BTC can hold its $30,000 level with confidence.”

Chart of ETH's price action over the past week with analysis by crypto trader and analyst Cactus (@TheCryptoCactus on Twitter). Source Chart from TradingView.com Related Reading: DeFi Founder Targeted in $8m Hack Says He Has His Hacker’s IP Strong Fundamental Trends to Drive Price Action

Andrew Keys, a former executive of ConsenSys and Ethereum investor, says that the leading cryptocurrency is likely to see a strong 2021 due to technical trends:

“On Dec. 1, the Ethereum community successfully launched phase 0 of Ethereum 2.0. The network upgrade from Proof-of-Work to Proof-of-Stake will make Ethereum scale and run faster with less computing power. In 2021, we will see phase 1 of Ethereum 2.0 go live, drastically improving scalability.”

Keys elaborated that he thinks the Ethereum 2.0 upgrade will have enough of an effect on the market to drive the cryptocurrency to $2,000:

“The Eth 2.0 upgrade will catapult the network’s capability and garner even more attention from enterprises and institutional investors, driving the price of the ether currency to new heights.”

He thinks that technical trends and overall macro trends will drive the value locked in DeFi to $150 million. He thinks that there will be a large amount of capital from Bitcoin and other blockchains siphoned into DeFi via cross-chain solutions such as RenBTC and tBTC.

This is likely to drive up the yields possible in the DeFi space, which should help Ethereum.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Unsplash Chart from TradingView.com Price Tags: ethusd, ethbtc Here's Why Analysts Think Ethereum Will Soon Move Toward $800

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3766.72 (+0.10%)
Объем 24H $14.144b
Изменеия 24h: -0.58 %, 7d: -3.26 %
Cегодня L: $3761.78 - H: $3776.41
Капитализация $452.554b Rank 2
Цена в час новости $ 949.86 (296.56%)

ethereum past btc soon think analysts gained

ethereum past → Результатов: 126


Cardano, Litecoin, Chainlink, Ethereum, Zilliqa: which of these alts are on the cusp of breaking out?

Despite breaching a new ath over $4000, Ethereum retraced its path over the past 24 hours. The altcoin's price was up nearly 15.19% in the past week and market capitalization has been continuously risThe post Cardano, Litecoin, Chainlink, Ethereum, Zilliqa: which of these alts are on the cusp of breaking out? appeared first on AMBCrypto.

2021-5-11 16:00


Why This Trader is Optimistic That Ethereum Will Spark a Massive Altcoin Rally

Altcoins have been closely tracking Bitcoin and Ethereum’s price action as of late, which is a positive sign showing just how far the markets have come over the past few weeks. While in the past, Bitcoin rallies occurred independently from the rest of the market, with altcoins trailing it or rallying during consolidation phases, the […]

2020-12-1 02:00


Фото:

There Have Never Been This Many Ethereum Long Positions on Bitfinex

Ethereum has been mirroring the price action seen by Bitcoin throughout the past few days and weeks This has mainly worked in its favor, but BTC’s immense momentum has not been enough to pull ETH past its crucial $500 resistance level The selling pressure here is quite significant, and whether or not the cryptocurrency can surmount this should shine some light into its near-term trend It is important to note that Ethereum has reclaimed a […]

2020-11-21 23:00


As Ethereum Hits a Make or Break Level, This Factor Could Spell Doom for What’s Next

Ethereum has had a great week, as it has been able to post consistent gains that have allowed ETH to claim a stable position within the $140 region. Despite this, it has been woefully underperforming Bitcoin over the past 24-hours, and it is unclear whether it will soon begin a descent as investors transfer capital... The post appeared first on NewsBTC.

2020-1-8 23:00


Фото:

Ethereum Price Watch: Currency Witnesses Steady Gains Over the Past 5 Days

At press time, Bitcoin’s closest competitor and the world’s second largest crypto asset by market capitalization, Ethereum, is trading at a respectable price point of $216.12. Additionally, as can be observed from the chart below, the premier currency has been able to scale up to around the $225 mark (twice) within the span of the past […] The post Ethereum Price Watch: Currency Witnesses Steady Gains Over the Past 5 Days appeared first on NullTX.

2018-11-8 14:25


Фото:

Ethereum Price Watch: Currency Struggles to Anchor Around the $210 Mark, Future Still Remains Unclear

At press time, Ethereum, the world’s second largest cryptocurrency by total market capitalization is trading at a relatively stable price point of $209.73. However, as can be seen from the chart below, Ether has been struggling to stay above the $200 threshold for the past week or so — with the premier crypto asset even […] The post Ethereum Price Watch: Currency Struggles to Anchor Around the $210 Mark, Future Still Remains Unclear appeared first on NullTX.

2018-11-5 12:20


$7.8M In Cryptocurrency Disappears From Trade.io “Cold Storage”, Hackers Implicated

Switzerland-based Trade. io Suffers Devastating Hack, Cold Wallet Affected In hand-to-hand fist fights, it is not like gentlemen to kick their opponents while they are already down. However, in the emerging cryptocurrency market, which has been bashed by violent sell-offs in the past nine months, malicious actors still seem poised to attack, hack, and steal from […] The post $7.

2018-10-23 03:28