Ethereum is supported by extremely strong fundamentals, and this led a lot of analysts to make really bullish predictions about the future of the coin.
Ethereum is extremely bullish at the moment, but experts are wondering just how strong is this uptrend.
At the moment of writing this article, ETH is trading in the red just like BTC and the coin is priced at $380.92.
ETH bulls created a higher high
Crypto Ticker notes that the most important time frame to consider regarding ETH is the monthly chart.
They note that ETH bulls managed to create a higher high, but there’s still the need to see a monthly close above $360 across the exchanges in order to fully confirm the strong uptrend.
The online publication mentioned above addresses the case in which ETH could smash through $1k by 2021.
“Technically speaking, Ethereum is only facing a major resistance level at $838 and that’s basically it on the monthly chart, of course, besides the all-time high.”
The same online publication continues and notes “Most notably we can see that the 12-EMA and the 26-EMAs have crossed bullishly, for the first time since 2017. Similarly, the MACD has also crossed bullishly, again since a long time ago. Practically all major indicators are in favor of Ethereum.”
Ethereum 2.0 is the main catalyst for ETH’s price
More than that, the post brings up the upcoming Ethereum 2.0 which is a really important move for the project. This will represent one of the biggest upgrades that have ever been performed in the crypto industry.
So, they note, this will be the main catalyst for ETH’s price boost eventually.
Check out the original post in order to learn more details on their case for ETH hitting $1,000 in two years.
Ethereum continues to remain surrounded by bullish predictions these days, so make sure to stay tuned and learn about more of them.
Ethereum is extremely bullish at […]