Ethereum

Massive Ethereum Adoption Underway! Will ETH Prices Get A Larger Boosts?

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The crypto market is witnessing a kind of bearish trend as most of the assets are falling with a greater margin. Yet Bitcoin is still a billion-dollar asset and Ethereum stands strong above $4000. Therefore, the possibility of a reversal, hitting certain support levels may be well on the horizon. With a notable jump, the ETH price may still have a target closer to $5000 in the upcoming bullish cycle.

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The second-largest crypto, Ethereum, is about to get a wider adoption as Binance announces the accomplishment of Arbitrum layer-1 integration. The platform is getting ready for the layer 2 ETH deposits. The Binance users could get huge exposure to the ERC-20 tokens with discounted transactions on BSC. 

Ethereum(ETH) Price To Hit $4400 Soon

The second most dominant crypto despite the deep plunge sustained above $4000, leaving no opportunity to flip the downtrend. No sooner the wick touched the wide horizontal support, the asset initiated with a consolidation. After a substantial consolidation, the asset is expected to flip and hit $4400 as per the predictions of a popular analyst

ethereum
Source: Tradingview

As per the analysis, the asset broke down the rising channel and plunged to the lower levels. Further, it flipped the horizontal support and initiated with a rebound and was on its way to hitting the initial resistance levels at $4334. Continuing the trend, the asset could easily regain the lost positions along the rising channel close to $4800. 

Overall, the general market sentiments despite being neutral, the Ethereum price was not impacted to a larger extent. The price remained above $4000 which manifests the strong bullish momentum intact with the rally. While the Bitcoin price is trembling down, the ETH price is pumping above. And hence keeping the hopes for a bull rally intact. 

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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.

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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