Here’s Why Analysts Think Ethereum Will Soon Move Toward $800 – Accu-rate

Here’s Why Analysts Think Ethereum Will Soon Move Toward $800 – Accu-rate

Ethereum has underperformed Bitcoin as BTC has pushed past $33,000 today. ETH is up 8% in the past 24 hours while BTC has gained over 11%.

Despite the relative underperformance, analysts soon think that Ethereum will catch up to the leading cryptocurrency. Analysts are targeting $800 in the short term as Ethereum moves past key resistance levels around $750.

Ethereum could soon hit $800, analysts say. One crypto-asset analyst noted that the cryptocurrency has passed key resistance levels this morning and is thus prepared to move toward $800 as long as BTC holds $30,000. He wrote on the matter:

“Good it feels good to be a gangster, perfect wick down to our possible wick level at $718 and this morning with more power than originally expected… huge morning. Thinking $800 is on the cards in the next 12 hours, if BTC can hold its $30,000 level with confidence.”

Image

Andrew Keys, a former executive of ConsenSys and Ethereum investor, says that the leading cryptocurrency is likely to see a strong 2021 due to technical trends:

“On Dec. 1, the Ethereum community successfully launched phase 0 of Ethereum 2.0. The network upgrade from Proof-of-Work to Proof-of-Stake will make Ethereum scale and run faster with less computing power. In 2021, we will see phase 1 of Ethereum 2.0 go live, drastically improving scalability.”

Keys elaborated that he thinks the Ethereum 2.0 upgrade will have enough of an effect on the market to drive the cryptocurrency to $2,000:

“The Eth 2.0 upgrade will catapult the network’s capability and garner even more attention from enterprises and institutional investors, driving the price of the ether currency to new heights.”

He thinks that technical trends and overall macro trends will drive the value locked in DeFi to $150 million. He thinks that there will be a large amount of capital from Bitcoin and other blockchains siphoned into DeFi via cross-chain solutions such as RenBTC and tBTC.

This is likely to drive up the yields possible in the DeFi space, which should help Ethereum.

Source: news.accurateft.com


Here’s Why Analysts Think Ethereum Will Soon Move Toward $800 – Cripto News World

Here’s Why Analysts Think Ethereum Will Soon Move Toward $800 – Cripto News World

https://www.newsbtc.com/wp-content/uploads/2021/01/jan-huber-ch-po6xfIiuNx4-unsplash-460×270.jpg

Ethereum has underperformed Bitcoin as BTC has pushed past $33,000 today. ETH is up 8% in the past 24 hours while BTC has gained over 11%.

Despite the relative underperformance, analysts soon think that Ethereum will catch up to the leading cryptocurrency. Analysts are targeting $800 in the short term as Ethereum moves past key resistance levels around $750.

Ethereum could soon hit $800, analysts say. One crypto-asset analyst noted that the cryptocurrency has passed key resistance levels this morning and is thus prepared to move toward $800 as long as BTC holds $30,000. He wrote on the matter:

“Good it feels good to be a gangster, perfect wick down to our possible wick level at $718 and this morning with more power than originally expected… huge morning. Thinking $800 is on the cards in the next 12 hours, if BTC can hold its $30,000 level with confidence.”

Image

Andrew Keys, a former executive of ConsenSys and Ethereum investor, says that the leading cryptocurrency is likely to see a strong 2021 due to technical trends:

“On Dec. 1, the Ethereum community successfully launched phase 0 of Ethereum 2.0. The network upgrade from Proof-of-Work to Proof-of-Stake will make Ethereum scale and run faster with less computing power. In 2021, we will see phase 1 of Ethereum 2.0 go live, drastically improving scalability.”

Keys elaborated that he thinks the Ethereum 2.0 upgrade will have enough of an effect on the market to drive the cryptocurrency to $2,000:

“The Eth 2.0 upgrade will catapult the network’s capability and garner even more attention from enterprises and institutional investors, driving the price of the ether currency to new heights.”

He thinks that technical trends and overall macro trends will drive the value locked in DeFi to $150 million. He thinks that there will be a large amount of capital from Bitcoin and other blockchains siphoned into DeFi via cross-chain solutions such as RenBTC and tBTC.

This is likely to drive up the yields possible in the DeFi space, which should help Ethereum.

Source: criptonewsworld.com

Author: Editor’s Choice


Crypto Whales Quietly Accumulating Ethereum, Says Analytics Firm Santiment

Crypto Whales Quietly Accumulating Ethereum, Says Analytics Firm Santiment

Data from crypto intelligence platform reveals that big money players are quietly accumulating Ethereum amid a surge in the value of the second-largest cryptocurrency.

In a new Twitter post, Santiment tells its 36,600 followers that the number of addresses holding more than 10,000 ETH has increased over the last two months while addresses that own 10,000 ETH or less have decreased over the same stretch.

“With ETH crossing $750 for the first time in 31 months, we’ve discovered that there are 39 more Ethereum addresses holding 10,000+ ETH compared to just 2 months ago. Meanwhile, the amount of addresses holding 1-10,000 ETH have shrunk over this time.”

Santiment’s chart also reveals that the number of addresses holding 1 – 100 ETH plummeted on December 19th. The crypto insights firm notes that a problem related to decentralized finance (DeFi) could have ignited the sharp decline.

“This massive drop from two weeks ago from this group surprised us, too. It could very well have been a DeFi-related anomaly, considering just how big the drop-off was.”

As the number of small-time ETH holders takes a nosedive, crypto trader Alex Saunders says the signal bodes well for the future of the leading smart contract platform.

“Whales accumulate ETH as retail sells. This is exactly what happened to BTC at $10,00 – $13,000 before blast off.”

While Bitcoin keeps reaching new all-time highs, Ethereum has yet to revisit its 2018 record peak of $1,432. At the time of writing, Ethereum is trading around $730, a level that’s nearly 50% lower from its record high witnessed almost three years ago.

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GOODBAD

Source: dailyhodl.com


Here’s Why Analysts Think Ethereum Will Soon Move Toward $800 – Accu-rate

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