The ETH could bring impulses in the range of 6,000 to 14,000 US dollars
Rising bullish volatility and newly discovered bullish momentum have caused many tokens to break out to all-time highs as traders scramble to determine which coin might be the astronaut.
When Bitcoin price soared to $ 64,000, Ether hit a new record high of $ 4,638. This move by Ethereum comes just days after the successful Altair upgrade, the first update from Beacon Chain that brings the network closer to a full Eth2 implementation.
Data from TradingView shows that after the bulls fell early in the morning of Jan.
ETH / USDT 1-day chart. Source: TradingView
If Ether can maintain its current course, it will see an eighth positive quarter in a row, according to a tweet from Coinbase International.
– Coinbase Institutional (@CoinbaseInsto) November 2, 2021
The landscape of the crypto ecosystem has changed quite a bit since the 2017 bull market, in part due to the emergence of a larger pool of institutional investors with larger assets, but this is a development to watch as the market will end on a strong note in 2021 .
Ether’s upward trend comes when the number of tokens locked for the first time in the Eth2 staking contract exceeds 8 million, a process that further depletes the available circulating supply and puts positive pressure on the price.
ETH is blocked in the Eth2 staking contract. Source: coin codes
Overall, the outlook for Ether is optimistic as many analysts are calling for a price of $ 10,000 by the end of 2021.
“Impact Wave” to $ 6,000-14,000
A simple, straightforward price prediction for ether comes from analyst Michaël van de Poppe, who published the following graph, which estimates an “impulsive move” between $ 6,000 and $ 6,400 that may occur sometime between November 2021 and January 2022.
ETH / USDT 1-day chart. Source: Twitter
Meanwhile, trader ‘John Wick’ has hinted that another breakout is imminent for ETH.
“Ethereum continues to generate new ATHs. Those who have waited months absolutely deserve this … Get ready for another outbreak soon! “
ETH / USD 1-day chart. Source: Twitter
Analyst Matthew Hyland compared the price movement of Ether in 2017 to the current market structure of ETH, and said that if the fractal pattern occurs, there will be a potential rally to at least $ 14,000 in two years’ time.
#Ether just starting …
The extreme move is coming
$ 14,000 + pic.twitter.com/5XSYoxAJ6F
– Matthew Hyland (@Parabolic_Matt) November 1, 2021
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews