EthereumPrice Analysis

Despite Many ETH Killers, Ethereum Appears To Be Ready To RIP Against BTC

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Aug 31, 2021

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Highlights

    Ethereum maintains a stable rally and approaching the target step by step, eliminating extended pumps or steep dumps

    The rally broke through the parallel channel and is an inch close to hitting the $3500 levels and eventually head towards $4000

    The upcoming month is expected to be very fruitful for the crypto as it could outperform the world largest crypto Bitcoin

Many blockchains exist in the crypto space which claims to be one of the tough competitors for the Ethereum network. Moreover, these competitors, tagged as ‘ETH killers’ are working hard to cut a large share of the ETH platform. Yet, Ethereum remains at the top and aims to outperform the most dominant crypto Bitcoin. 

The Ethereum price after an extended consolidation within a parallel channel broke the upper resistance and is heading towards $3500. However, the actual target still lies at $4000 once the strong resistance levels at $3685 are cleared. With the intensified bull rally, yet it is believed that ETH will outperform BTC in the coming month. 

Many other blockchains like Solana, Polkadot, Cardano, are working progressively to compete with Ethereum. Solana has fewer transaction fees with a high transaction rate, Polkadot is almost ready with their Parachains and Cardano’s most awaited ‘Alonzo Hard Fork’ is scheduled in the next 10 days. 

No doubt these blockchains will excel in the coming days, yet Ethereum is also expected to counter with the upgrades on ETH 2.0. The most recent one, Lond Hard Fork is one of the most successful upgrades due to the EIP 1559 addition. And hence the ETH price is could rally hard beyond $4000 to challenge the BTC dominance. 

Also Read: Will Bitcoin continue its Bull run in September? BTC Price action hints at a Gloomy September!

Ethereum Price Lays A Clear Path Towards $4000

Ethereum price has maintained a constant trend since the launch of the Hard Fork. The price eventually broke out through the channel, gaining more than $200. Currently, the ETH price is attempting hard to prevent entering again in the channel. Despite the bears want to gain control, yet the bulls appear to be pretty strong to block further loss.

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Collectively, Ethereum price is primed to outperform all the other blockchains including Bitcoin too. However, as predicted by an analyst Bitcoin Jack, Ethereum needs another 2.2x from here to flip Bitcoin. As many believe the BTC price could remain within the same levels or experience a downtrend. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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