Ethereum Price To Hit $2,000? Analyst Predicts Best Level To Buy

Almost all FOMC participants agreed with a rate hike of 25 bps and a few officials favored raising it by 50 bps, minutes from the last meeting showed. However, Fed officials to rely on more data on inflation and jobs for considering a pivot.

advertisement

Popular crypto analyst Michael van de Poppe believes that $1,600 is a great level for going long on Ethereum. As Ethereum price fell due to fears of hawkish U.S. Fed planning to raise interest rates by 50 bps in March.

Ethereum price
Ethereum Price. Source: Michael van de Poppe

He predicts Ethereum price will continue moving upward from here. The Analysis indicates that ETH price could break above the $1700 resistance level, with a possible move to $2000.

Glassnode reports that the amount of supply in 3-6 months (1d MA) just reached a 16-month high of 14,190,275.522 ETH, indicating an increase in interest among short-term buyers.

Trending Stories
Ethereum (ETH) Withdrawn After Shanghai (Shapella) Upgrade: Details
ETH Price Prediction: New Recovery Cycle in Ethereum Price Hints a 10% Rally Ahead
24/7 Cryptocurrency News
pepe coin crypto news
PEPE Price Prediction: This Chart Pattern may Determine if PEPE Token Price will Rally 70% or Fall 40%
24/7 Cryptocurrency News
bitcoin news crypto
Bitcoin Price Reversal from a Healthy Retracement Level Hints 6% Jump; Enter Today?
24/7 Cryptocurrency News
Cardano Price Prediction
ADA Price Prediction: Healthy Retracement to Key Fibonacci Level Prepares Cardano Price for 16% Rally
24/7 Cryptocurrency News
XRP ripple crypto news price
XRP Price Prediction: XRP Price Correction Halts at a Crucial Fibonacci Support; Will Recovery Kickstart?
24/7 Cryptocurrency News
Ethereum price
Ethereum Amount of Supply. Source: Glassnode

Ethereum Price Ahead of Shanghai Upgrade

Bitcoin Campaign

The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT.

Signup Ad

Ethereum Shanghai upgrade could increase the trading volume of Ethereum and could likely lead to an ETH price increase. Moreover, the increase in staking ahead of the Shanghai upgrade points to a rise in ETH price amid upgrades.

Ethereum Foundation on Wednesday announced that Shanghai’s Sepolia Shapella upgrade is scheduled for February 28 at 4 AM UTC. The ETH testnet Sepolia will undergo the Shanghai upgrade and allows validators to retrieve their stake from the Beacon Chain to the execution layer.

The event to likely make the Ethereum price volatile as validators remove their staked Ethereum from the chain. Crypto influencer Lark Davis recently warned that withdrawals will cause a significant sell-off in the crypto market and further disrupt the ETH bullish narrative.

Also Read: Crypto Body Takes Action Against US SEC Chair Gary Gensler For Crypto Crackdown

Comments

Post a Comment

Popular posts from this blog

Ethereum: A $1000 Investment in ETH Turns $2.5 Million in April 2023

Image
Vitalik Buterin published a white paper in 2014 and Ether made its debut in the indices in 2015. ETH ballooned to become the world’s largest altcoin cryptocurrency only second to Bitcoin in market cap. During its launch, ETH was trading at $0.42 but quickly jumped to $0.74 before investors got wind of the asset. The relatively new crypto was affordable giving investors ample time and opportunity to accumulate it every month in 2015. However, things turned when it crossed the $2 mark in January 2016 and skyrocketed in price thereafter. Early entrants made millions with ETH by buying low and selling high. The late entrants brought the crypto at a premium price with less quantity as it went north sharply in the coming years. Also Read: VeChain: VET Price Prediction for the End of April 2023 Source: Coingecko Ethereum: A $1,000 In ETH Would Have Turned to $2.5 Million Today Source: newsbtc.com Considering that Ethereum was trading at $0.74 in 2015, a $1,000 investment w
Read more

Crypto News: Binance Adds Support For Bitcoin Ordinals

Image
Binance embraces Bitcoin NFTs The integration of Bitcoin NFTs into Binance ’s marketplace is expected to bring a surge of excitement to the already-thriving NFT space. Users will now be able to execute Bitcoin NFT transactions directly from their Binance accounts, streamlining the process and offering greater convenience. This development could mark a significant milestone in the world of NFTs, as the integration of Bitcoin NFTs allows users to utilize their Binance accounts for a wider range of transactions, beyond traditional cryptocurrencies. advertisement Read More: US SEC Sues Coinbase Exchange Following Binance Lawsuit Ordinals, introduced in Janurary of this year, have lately become the talk of the town. The Ordinals protocol has given Bitcoin an additional layer of utility where users can now use the token for more than just a store of value. The current lineup of supported Bitcoin NFTs on Binance ’s marketplace is extensive, featuring popu
Read more

Shiba Inu Might Hit $0.01 In These Many Years: Here's The Math

Image
The Shiba Inu [SHIB] ecosystem has been navigating through the contentious release of its layer-2 protocol, Shibarium. In the midst of this situation, SHIB faced a significant decline and was unable to rally. Nevertheless, there are those who maintain optimism about the meme coin’s potential for an upward movement. While the possibility of SHIB reaching $0.01 might seem ambitious, it is certainly not beyond the realm of possibility. The topic of whether Shiba Inu can achieve a value of $0.01 is a prevalent conversation among novice investors. Judging from the market cap alone, Shiba Inu would need a considerable expansion from its present value of $4.76 billion. To reach a token price of $0.01, SHIB would require a market capitalization of $5.9 trillion. It’s important to emphasize that achieving a market capitalization of $5.9 trillion would position Shiba Inu as a larger entity than Apple. This aspiration is highly speculative and falls beyond the conceivable realm, at least for
Read more