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Ethereum Price: Can ETH touch $3000? – Technical Analysis

Ethereum Price: Are We Heading Towards $3000?

Ethereum has been one of the major reasons for the advancement in the blockchain. Lots of new products, Dapps, DEFI, Exchanges and coins have been built on the ERC 20 smart contracts. If it weren’t for Ethereum, cryptocurrencies and blockchain would have not received the recognition and fame that it has received right now. The technical advancement has unfortunately not reflected in Ethereum price.

From the March low sub $100, Ethereum price increased by13X reaching close to its all time high price.

Fundamentally, ETH is one of the strongest coins perhaps it is the only coin which has the potential to dethrone BTC in market cap. In the past, ETH was almost equivalent to BTC in terms of market cap. Fundamentally, ETH is quite underpriced and can easily surpass $2,000 in the near future. With ETH 2.0 coming up, it won’t be far till we start seeing an exponential increase in the price of ETH.

Let us review the hourly, daily and weekly chart of Ethereum:

ETH – Price Prediction – 4 hour

ETH 4 hour

ETH is currently trading above the 0.236 fib at $1036. If it can break the 0.618 fib at $1250, then this correction could be over and we could start seeing a move towards $1345, $1465 and $1813. Failure to hold the support at $1036 could lead to a drop towards $973, $901 and $737 which would be good areas to long ETH.

 

ETH – Price Prediction – Daily

ETH Daily

On the daily chart, ETH has a support at $973. If it can hold this level, we could start seeing a move towards $1124, $1226, $1356, $1731 and $2337. Failure to hold the support at $973 could lead to a drop towards $746 which could be a good zone to long ETH. There is another major support zone at $604.

 

ETH/USD – Price Prediction – Weekly

ETH weekly

On the weekly chart too, ETH has a good support at $915. As long as we are above this support zone, we can see a move towards $1349, $1806, $2546 and $3286. Failure to hold the support at $915 could lead to a drop towards $838 and $600.

The current price of ETH is $1076 with a market cap of $122,576,105,965.

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The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

 

 

 


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