Price Analysis

Ethereum Price Is Leveling up for Its Launch to the Moon? What You Need to Know!

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The crypto space has been unpredictable, since the beginning. Traders and investors in the space, are keen on ETH and other altcoins. Owing to the strong fundamentals of the protocol on offer. The market cap of the crypto space at press time hovers over $27 trillion. While the volumes for the last 24-hours stand at $130,943,810,816

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ETH at press time is trading at $4,145.70 with 1% gains for the last 24-hours. The market cap of the altcoin is $489,109,763,981. While the commerce volume floats around $17,633,652,463. ETH hit its new ATH a few days ago at $4,361.18. Which has reinstated the belief of the Ethereum community to a greater extent. Meanwhile, analysts chalk out, what the future could unfold for the digital coin in the short term.

Also Read : Bitcoin Price Undergoes Key Correction! Analyst Says $90k Target Looks Imminent!

Ethereum (ETH) Price

Crypto proponent highlights a pennant formation on the charts. From the charts, it is evident that if the coin breaks down the pennant. we can expect a withdrawal of ALT/BTC plays. On the contrary, a break up from the pennant could lead to flocking in of plays.

 Another analyst expects the next two months to be a phase of consolidation. With peaks and dips of 20%. However, he expects Ethereum to go moonish in late Q4, ETH/USD could do well, but not outperform BTC. 

Summing up, The digital coin is currently consolidating after brushing its new ATH. Ethereum is in a healthy uptrend, creating higher highs and higher lows, ensuing a pattern called Rally-Base-Rally. There also seems to be a trend continuation pattern. However, the coin will have to break through its immediate resistance at $4220. With its growing dominance, we can expect other altcoins to follow its suit.  

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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.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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