EthereumPrice Analysis

Ethereum(ETH) Price All Set To Smash $14,000, A 10x Jump Very Soon!

news-image

The crypto space is on the verge to record a rebound from the past losses. Many crypto assets are trying very hard to regain the bullish momentum in order to pierce through the immediate resistance levels. However, the bears are also pretty active and leaving no opprtunity to drag the price behind. Yet the bulls keep Ethereum (ETH) price well placed above $3000.

Advertisement

The altcoin is showing positive gains on the market charts. Interestingly, an investor is optimistic about the coin hitting closer to 10X, from ETH’s past performance. The analyst, Jarzombek speculates ETH price could hit $13K to $14K within this bull run. 

 ETH during the first bull wave of 2017, surged from about $7-8 to $420. While in the first bull wave of 2021, the ALT coin went moonish from $85 to $4300.

Consecutively, the coin has surged from $145 to $1410 during the second bull wave of 2017. He analyzes the possibility of the coin reaching about $13k-14k from $1700 in the second bull wave of 2021. Going by the math, it does seem possible, as the coin has surged in a similar manner previously.

Also Read: Altcoins Recover! Analyst predicts limited bottoms for ETH, HBAR & CVX

Ethereum(ETH) Price Analysis

The ETH price is trading at $3,091.72 with gains of about 6%. ETH did hit its 24-hour high of $3,147.78. The statistics mentioned are from press time. The coin is currently hovering above its major support levels of $3,000. ETH prices could possibly accelerate higher if it surpasses the $3200 resistance zone. The next major resistance for the coin is at $3400.

The digital coin needs to stick above its support levels of $3000 to avoid losses. Meanwhile, the downtrend in supply rates is a good sign for the long-term gains of the network. The ALT coin has picked up pace pretty well, rising above its support levels. The interim relief in the economic crisis has helped the coin rebound.

Summing up, we can expect the targets for Ethereum(ETH) price to materialize provided the uptrend persists. And the due upgrades of Eth2 come into place. The merge of the current Ethereum Mainnet with the beacon chain Proof-of-Stake system is of immense importance.

Also Read: Polkadot, Kusama, COTI, and Cardano Proves to be a Good Long Term Investment!

Tags
Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Related Articles

Back to top button
Close
Close