Ethereum View Non-AMP

Ethereum Take Actions to Reduce Gas Fees! ETH Price to Hit $5555 In Next Bull Cycle!

Written by: Qadir AK

November 29, 2021

Ethereum price has evaded a sharp bearish dominance on Monday with a 15.82% surge in the trading volume round the clock. On the other hand, the broader crypto space has been slowly retracing the previous highs. Yet, the Ethereum network remains unusual as their founder Vitalik Buterin signals the rollups to encounter the prevailing challenges regarding scaling and gas fees. 

Ethereum Price Target Set to $5555 in Next Bull Cycle!

September month was pretty bearish for the star altcoin, moreover Chinese market turmoil hurt the price. The asset has managed to gain the substantial potential of around $2900 to $3100 prior to the major leg up. However, the ETH price soared in a steady upward channel to reach $4700.11 on November 15th.

Further, the asset has undergone a requisite correction post the massive rally. Further, in its recent move, the asset has managed to generate substantial support around the $4000 mark. A crypto analyst Eloquent predicts Ethereum’s price to reiterate the identical pattern to acclaim $5555 by the end of December. 

Vitalik Buterin Reveals Ethereum Scaling Roadmap!

Ethereum’s co-founder Vitalik Buterin imparted a roadmap with the aim to scale the network and chop off the transaction fees. In short-time, long-time, and medium-time frames, new rollups could ameliorate the glitches related to scaling and high transaction fees for the Ethereum network. 

The current rollups utilize transaction call data. Hence, in order to boost rollup capability and decrease fees, the platform has taken the initiative to lessen the transaction call data. Further, in order to ascertain the high degree of security and prevention of trader’s data from potential cyber-attacks, the foundation is set up to implement an enhanced sharding mechanism.

Collectively, things are looking positive for the Ethereum price rally. If the asset manages to replicate the October trend pattern, then the star altcoin would easily claim the pinned target of $5555 by the end of December. However, as the foundation has been scheduled a launch of several rollups to resolve the existing glitches, sentiments are bullish for the asset. 

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Creating a Self Development Platform Amongst Many Other Utilities – Trash Panda Gang Focuses on Helping Their Community

  Trash Panda Gang - a collection of 5555 3D hand-drawn NFTs - is now…

May 25, 2022

Bitcoin Outperforms Altcoins! BTC Price Might Hit $32K This Weekend

As range conformity continued, Bitcoin (BTC) momentarily rebounded to $30,000 before the May 25 Wall…

May 25, 2022

Do Kwon’s Approach To Terra 2.0 Listing Gets Rejected By S.Korean Crypto Exchange! Here Is Why

Do Kwon, the founder of Terra, is apparently having trouble getting Terra 2.0 listed on…

May 25, 2022

Here’s What MicroStrategy CEO Michael Saylor Has To Say About Bitcoin Mining

Every Crypto investor who has lost their money during this recent market collapse is now…

May 25, 2022

Never Owned or Understood Terra (LUNA) Says, Raoul Pal

Several inexperienced traders seemed alarmed by the stunning downfall of the TerraUSD and Luna coins,…

May 25, 2022

Terra Community Prepares To Launch New Terra, Exchanges Show Interest To List New Token

The inclusion of Terra's fresh new currency, also known as LUNA, on crypto trading platforms…

May 25, 2022