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Ethereum Price Analysis: Future Price Prospects And Analysts Opinion

Highlights

    Ethereum price remains a point of speculation in crypto markets

    How will Ethereum 2.0 help adoption and ETH future price prospects?

    Analysts have contrasting opinions about Eth price

    According to Blockfyre, Ethereum prices remain bullish in the long term

    Eth price breaks the $240 resistance level amid short term price surge.

The debate about whether Ethereum is a worthwhile investment or whether the Ethereum price is going down the rabbit hole in the future is still very relevant today. These points of view continue to make the basis of several important Ethereum news making the headlines recently.

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What actually does the future hold for Ethereum? Will Ethereum price rise or will it fall to nothing? What Ethereum News can we expect in the future as an indication of great prowess and developments?

ETH 1.0, Decentralized Finance (DeFi) And ETH 2.0

Ethereum still takes the credit of the blockchain which brought about the emergence of smart contracts. This development, however, allowed several formidable projects to run on the Ethereum blockchain and was forming the basis of incredible price growth.

The issue of scalability, however, emerged as a major stumbling block but was immediately shun when the Ethereum development announced plans of developing a scalable version now popularly known an Ethereum 2.0

Nonetheless, the great developments on the Ethereum blockchain appeared not to matter much since Ether dropped drastically in February. And till now, it appears that the top cryptocurrency still struggles to keep its head above waters. This, however, begs the question “Is Ethereum A Worthwhile Investment”?

Many crypto influencers have contrasting opinions:

According to Blockfyre, Ethereum prices remain bullish in the long term. The crypto research firm believes that while Eth price remains relatively stagnant since the end of 2018, high development activity and several on-chain metrics suggest that the price could soon go higher.

In a recent thread of tweets, Blockfyre maintained that Ethereum progress and several promising indicators are very bullish for ethereum. The firm affirmed this while making reference to gas fees and increasing investment holding period and growing Eth balances held by miners, all of which are bullish for Ethereum price altogether.

On the affirmative, Ethereum bull, Ryan Sean Adams; Founder of a crypto investment company, Mythos Capital, called Eth ” doubly undervalued“. He argues that Ethereum’s price would initially catch up with the actual usage of the Ethereum network, thereafter, commensurate the ongoing developments as a store of value.

On the contrary, Dovey Wan, Primitive Ventures partner called Ethereum a “flawed logic“. She claimed that the increased usage of the Ethereum network is largely a result of Ponzi/casino games which actually utilize stablecoins in their activities in the stead of Eth.

Dovey however finalized her arguments that only actual demand for Ethereum can drive its price up while contradicting Blockfyre research.

Generally speaking, the successful emergence and acceptance of Ethereum 2.0 largely depends on the success of its ancestor, the 1.0 version.

Eth/USD Technical Analysis

Ethereum has smashed a major resistance at the $240 level as the cryptocurrency establishes its price above that resistance level. The prominent cryptocurrency launched an assault to surge higher on July 13 and has now successfully ascended through major boundaries as the bulls are mandating to run for the $250 mark.

In the short term bull run that helped the price of ethereum to its new price of $240, the cryptocurrency achieved a crucial 1% within the last 24 hours. Also, market capitalization enhanced together with its exchange volume within the same timeframe. Both values flicker around $26.88 billion and $8.0 billion respectively.

While prices proceed within the periphery of the $245 resistance level, the sellers are orchestrating concurrent unsuccessful cases to yank the price down by a slight margin. Nevertheless, buying tension equalizes both sides of the market attitudes.

In comparison to the price of Bitcoin, ETH seems to have outperformed BTC in the last couple of days. Ethereum vs Bitcoin analysis confirms that within the last week, Eth is up by around 2% while BTC is in little loss. Although, this expanded to the beginning of the year is a different story entirely. 

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Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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