EthereumPrice Analysis

Ethereum Price Analysis: ETH Price is Surging! Analyst Hints Towards $2400 Mark Soon!

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With market domination of 44.17 percent, the BTC price is trading above $32K. In any case, it was outperformed by ETH and a number of altcoins, indicating that bulls are feeling more confident than they were earlier this week. 

All altcoins only require a good pump to maintain the short-term positive momentum. Due to enormous sell-offs and widespread FUD in the crypto sector, Ethereum Price has been struggling in the market. Musk’s remarks appear to have provided the digital asset the boost it needed to break out from its rut.

The greatest winner from the B-Word conference was Ethereum, which saw its price skyrocket after Elon Musk revealed that he owned the cryptocurrency. In the following days, ETH is projected to test $2400. However, if the price falls below $2000 for whatever reason, this is a red flag. The liquidity zone has given the price the required support to reverse, and the bearish structure has finally been broken.

Ethereum had a strong start to the day, reaching an intraday high of $2090 before correcting. The price of the token is present $2063. In the last 24 hours, it has increased by 2.43 percent. Before the probable bullish breakout, the price could vary between $1,855 and 2090 in the following weeks. $1956, $1898, and $1855 are the major support levels. The resistance levels on the upside are $2099 and $2157. 

We are in a crucial support zone, according to Micheal Van De Poppe. He compares the current situation to the September catastrophe last year, which was nearly identical. He believes that ETH will rise to $2100, following which $2400 is a possibility.

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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.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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