Analysts Bullish on Ethereum Price
Ethereum Price targeted a move up to the $700-$800 range
The crypto markets are achieving more stability ahead of the weekend. With an interesting turn of events, most altcoins like LINK, XRP, YFI AAVE, and many more are leaning towards the bullish zone for the last 24hrs.
Ethereum has been closely tracking Bitcoin’s price action throughout the past few days, which marks a major shift from its previous trend of seeing stagnating price action while BTC rallied higher.
ETH Price is now on track to catch up to Bitcoin’s gains, but for it to do so, it must establish $450 as a strong base of support.
Analyst Predict Major Ethereum Price Rally
Many analysts who traditionally focus on Bitcoin are now turning to Ethereum. Josh Rager seems to be super bullish on Ethereum. In his recent tweet he claimed that :
His Ethereum Price targeted a move up to the $700-$800 range, the next major resistance zone for ETH.
Popular analyst with twitter handle TheCryptoCactus commented on how much ETH had been staked already, targeting a move up to $600 before the end of this year.
It is worth noting that, According to the ETH 2.0 Launchpad at present, there are just under 49,217 ETH staked, which is just over 9.3% of the total 524,288 required for the genesis of the new blockchain. With $22 million of ETH currently staked, analysts have suggested that this number will likely accelerate in December with the Phase 0 launch.
Another popular crypto trader Kevin Svenson is also bullish on Ethereum price. He claimed that ETH is still undervalued.
Ethereum Price Analysis
Ethereum Price dipped back to $425 on Saturday but reclaimed $460 by Monday morning. At the time of the press, ETH is trading at $452.00 with 2% gain. Currently the second-largest coin is holding the market cap value of $51,235,204,695 with $13,363,569,629 trading volume.
As long as Bitcoin remains stable and Ethereum can hold above $450 before its weekly candle close, there’s a strong possibility that it will soon see significant further upside