The Ethereum price has picked up pace since closing in September. At the beginning of October, the coin reversed its trend. And rises in the charts with interim consolidations. The digital asset has been consolidated in the last few days. The coin appears to be moving along a parallel chain where it was forged in between.
The coin values around at the time of going to press $ 3,566.28, with profits of 0.9%. It hit its 24-hour high of $ 3,615.35. The digital asset is having a hard time meeting its resistance. to overcome $ 3,620- $ 3,650 and falls from this cliff. The candle has to overcome its resistance to get to its ATH at $ 4,356.99. As the coin loses steam, we can expect a dip towards its support zones in the area of $ 3,300 – $ 3,376.
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However, a consolidation phase can be expected in the next few days. Before that, the digital coin shows signs of movement. On the other hand, a popular crypto analyst has set benchmarks for ETH for the first quarter of 2022. The goals are in the range of $ 15,000 to $ 20,000. The stated goals are 5x to 6x higher than the current trading value of ETH.
With the highly anticipated ETH 2.0 in the pipeline, we can assume that ETH prices will rise after the update is released. The transition to proof-of-stake will hopefully become turntables for Ethereum. It helps him get his due share of perks and march on his massive rally.
It is common knowledge from previous scenarios that altcoins tend to follow the example of Bitcoin. And a similar trend can be seen in the charts. However, with Bitcoin’s dominance waning, we can expect a relative increase in the price of the coin.
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