Ethereum has been one of the major reasons for the advancement in the blockchain. Lots of new products, Dapps, DEFI, Exchanges and coins have been built on the ERC 20 smart contracts. If it weren’t for Ethereum, cryptocurrencies and blockchain would have not received the recognition and fame that it has received right now. The technical advancement has unfortunately not reflected in Ethereum price.
From the March low sub $100, Ethereum price increased by13X reaching close to its all time high price.
Fundamentally, ETH is one of the strongest coins perhaps it is the only coin which has the potential to dethrone BTC in market cap. In the past, ETH was almost equivalent to BTC in terms of market cap. Fundamentally, ETH is quite underpriced and can easily surpass $2,000 in the near future. With ETH 2.0 coming up, it won’t be far till we start seeing an exponential increase in the price of ETH.
Let us review the hourly, daily and weekly chart of Ethereum:
ETH – Price Prediction – 4 hour
ETH is currently trading above the 0.236 fib at $1036. If it can break the 0.618 fib at $1250, then this correction could be over and we could start seeing a move towards $1345, $1465 and $1813. Failure to hold the support at $1036 could lead to a drop towards $973, $901 and $737 which would be good areas to long ETH.
ETH – Price Prediction – Daily
On the daily chart, ETH has a support at $973. If it can hold this level, we could start seeing a move towards $1124, $1226, $1356, $1731 and $2337. Failure to hold the support at $973 could lead to a drop towards $746 which could be a good zone to long ETH. There is another major support zone at $604.
ETH/USD – Price Prediction – Weekly
On the weekly chart too, ETH has a good support at $915. As long as we are above this support zone, we can see a move towards $1349, $1806, $2546 and $3286. Failure to hold the support at $915 could lead to a drop towards $838 and $600.
The current price of ETH is $1076 with a market cap of $122,576,105,965.
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