The broader crypto space has been biting the bullet since the start of Q4 by claiming higher highs in fits and starts. Bitcoin has been taking a breather followed by the latest relay race. It appears Ethereum price might have taken over the liability, as it has been surging to new highs. The star altcoin may already be a way ahead of its rivals as its merger is fast-approaching.
Moreover, tokens built on ERC-20 have over-delivered their performance with incredible gains. Notably, the latest Metaverse sensation The Sandbox price has surged by 159.38% over the past week. Whereas Enjin coin, Chromia, and e-Radix are up by 38.50%, 121.67%, and 13.37% in the last 7 days.
Ethereum Price Roadmap to $7500 is Here!
Ethereum held sway over its arch-rival Bitcoin since the start of the quarter, yet continued to override by claiming new highs in the latest run. The star altcoin appears to have entered a discovery mode owing to the latest clinch of ATH at $4,664. On the other hand, ProjectSyndicate, a popular crypto technical analyst has made ingenuous predictions for the altcoin. He expects the altcoin leader to chug up to $7,500.
The chart shown by him from Tradingview highlights a 1-Day chart. Yet the price has recently claimed new ATH, the asset still holds a tank full of gas, as Bulls are still hopeful of higher gains. The chart confirmed the replication 2020 price action in Q4, where ETH price has almost doubled from $340 to $590.
The analyst expects the short-term fall in the asset’s price, and cites $3700 as the best buying opportunity. He also emphasized that if the altcoin closes below $3,500, then it would not follow his prediction. On a positive note, he is hopeful of the price to soar up to $7,500 after substantial consolidation well below $4,000. The next bull cycle would run with a slow and steady phase, as the analyst advised to be patient. The price range between $7000 to $7500 could be the best sell opportunity, he further added.
On the other hand, a popular crypto analyst Micheal Van De Poppe also expects Ethereum to retest between $3,700 to $3,900 before rising towards $5,000.
Collectively, with the dawn of the Altseason on the horizon, Ethereum price appears to be a step ahead with massive cash-inflow post the Altair upgrade. Despite high gas fees, the ecosystem has recently registered nearly 1 million active addresses, which further catalyzed the price action. Amid all these rising bullish sentiments, the altcoin is expected to continue its domination. On the contrary, it would see a drastic drop well below $3,500, if it fails to carry forward the momentum.