• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Saturday, April 1, 2023
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

Ethereum Analyst Sees Record High This Week as Price Climbs 60%

4 January 2021
in Ethereum
Reading Time: 3 mins read
A A
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT



The cost to purchase one Ethereum might exceed its previous record high this week.

That is, according to Josh Rager. On Monday, the independent market analyst said that he sees ETH/USD making a run towards the $1,250-1,350 area as resistance. Meanwhile, a clear breakout move above the said range would have the pair test its January 2018 high of $1,419.96.

“The final target is $5k for me in the next year,” added Mr. Rager. “But now – the target to hit is $1,250 to $1,350 is resistance.”

What Pumped Ethereum?

Mr. Rager’s statements surfaced in the wake of Ethereum’s volatile price rally over the weekend and Monday. It surged by almost 60 percent, hitting $1,168.99 before turning lower towards $1,000 in its opening week move. Meanwhile, its market capitalization climbed to near $119 billion, making 13.68 percent of the overall cryptocurrency market valuation.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency

Ethereum breaks above key Fib resistance areas. Source: ETHUSD on TradingView.com

It is not clear what specifically caused the Ethereum bull run, but many analysts agreed that its gains emerged as a part of a so-called altcoin season.

ETH/USD’s upside moves matched sentiments across other top assets (except Bitcoin). For instance, Litecoin’s LTC climbed 11.50 percent on a 24-hour adjusted timeframe. Chainlink’s LINK surged 15 percent, while Cardano’s ADA and Bitcoin Cash’s BCH jumped 21 percent and 15 percent, respectively.

Meanwhile, leading cryptocurrency Bitcoin corrected by approx 9 percent after hitting its all-time high near $34,500 on Sunday. Its market capitalization also slipped from 72 percent to 68.89 percent, signaling that traders decided to sell its top to seek opportunities in the altcoin market. It benefited Ethereum.

Long-term Speculation

Ethereum also drew its bullish cues also from the anticipation of higher demand as its active supply runs dry.

Ki-Young Ju, CEO of South Korea-based blockchain analytics platform CryptoQuant, stated that the ETH reserves across all the cryptocurrency exchanges have decreased by 20 percent since May 2020. He noted that the supply might be going into decentralized exchanges, staking contracts, and self or third-party custodial wallets.

“It seems the sell-side liquidity crunch started to hit ETH just like the BTC market,” Mr. Ju tweeted.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency

Ethereum All Exchanges Reserves. Source: CryptoQuant

Data fetched from EtherScan shows that Ethereum’s very-own smart contract that powers its recent upgrade to proof-of-stake has locked about 2.2 million ETH out of supply. It is equivalent to $2.33 billion at the press time.

Related articles

403 Forbidden

26 March 2023
Ethereum DeFi Suffered 76% Decline In TVL This Year

Ethereum DeFi Suffered 76% Decline In TVL This Year

30 December 2022
Cryptohopper
ADVERTISEMENT

“Almost 2 percent of ETH supply is staked on the ETH2 deposit contract. I think this illiquidity makes the ETH price goes higher in the long-term,” stated Mr. Ju.

Meanwhile, ETH locked inside DeFi pools is about 6.97 million, according to separate data provided by DeFi Pulse.

[crypto-donation-box]





Source link

Tags: AnalystClimbsEthereumhighPriceRecordSeesWeek
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

Litecoin (LTC) Flips Ripple’s XRP Moving Past $167, Excitement Around Mimblewimble Launch Builds

Next Post

Ripple Price Analysis: Rally Looms If XRP Breaks $0.25

Related Posts

403 Forbidden

26 March 2023
0

403 Forbidden WHAT? Why am I seeing this? Your access to this site was blocked by Wordfence, a security provider,...

Ethereum DeFi Suffered 76% Decline In TVL This Year

Ethereum DeFi Suffered 76% Decline In TVL This Year

30 December 2022
0

Data shows the bear market has also hit Ethereum decentralized finance (DeFi) hard, as the total value locked in the...

Over 60% Of Ethereum Blocks Are OFAC Complaint, A Reason To Worry?

Over 60% Of Ethereum Blocks Are OFAC Complaint, A Reason To Worry?

27 December 2022
0

When Ethereum finally moved from a Proof of Work (PoW) to a Proof of Stake (PoS) mechanism, it had been...

Ethereum Bearish Signal: Network Demand Remains Low

Ethereum Bearish Signal: Network Demand Remains Low

26 December 2022
0

On-chain data shows the demand on the Ethereum network has continued to drop recently, a sign that could be bearish...

Ethereum Exchange Reserves Declined More Than 30% In 2022

Ethereum Exchange Reserves Declined More Than 30% In 2022

24 December 2022
0

On-chain data shows investors withdrew a large amount of Ethereum during 2022 as the ETH reserves have fallen by more...

Load More
Next Post

Ripple Price Analysis: Rally Looms If XRP Breaks $0.25

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • ApeCoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • HBAR
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • QNT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • U.S. Government Case Against Voyager-Binance.US Deal Has 'Substantial' Merits, Judge Says
  • Start Your Journey to Success!
  • Better Buy: Solana or Avalanche?

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2022 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$28,485.001.11%
  • ethereumEthereum(ETH)$1,829.741.14%
  • tetherTether(USDT)$1.000.13%
  • binancecoinBNB(BNB)$315.14-0.59%
  • usd-coinUSD Coin(USDC)$1.000.16%
  • rippleXRP(XRP)$0.51-3.62%
  • cardanoCardano(ADA)$0.391815-1.82%
  • staked-etherLido Staked Ether(STETH)$1,823.991.01%
  • dogecoinDogecoin(DOGE)$0.0769341.71%
  • matic-networkPolygon(MATIC)$1.111.77%
  • solanaSolana(SOL)$21.072.75%
  • polkadotPolkadot(DOT)$6.290.50%
  • binance-usdBinance USD(BUSD)$1.000.08%
  • litecoinLitecoin(LTC)$93.745.29%
  • shiba-inuShiba Inu(SHIB)$0.0000113.72%
  • tronTRON(TRX)$0.0672382.08%
  • avalanche-2Avalanche(AVAX)$17.712.16%
  • daiDai(DAI)$1.00-0.14%
  • uniswapUniswap(UNI)$6.162.42%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,467.000.99%
  • chainlinkChainlink(LINK)$7.54-0.49%
  • ToncoinToncoin(TON)$2.267.79%
  • cosmosCosmos Hub(ATOM)$11.170.28%
  • leo-tokenLEO Token(LEO)$3.39-1.70%
  • stellarStellar(XLM)$0.109068-0.57%
  • ethereum-classicEthereum Classic(ETC)$20.671.73%
  • moneroMonero(XMR)$156.650.14%
  • okbOKB(OKB)$41.820.46%
  • bitcoin-cashBitcoin Cash(BCH)$124.441.18%
  • filecoinFilecoin(FIL)$5.672.19%
  • hedera-hashgraphHedera(HBAR)$0.070630-1.24%
  • lido-daoLido DAO(LDO)$2.400.77%
  • true-usdTrueUSD(TUSD)$1.000.00%
  • AptosAptos(APT)$11.23-0.37%
  • quant-networkQuant(QNT)$125.09-0.05%
  • crypto-com-chainCronos(CRO)$0.0693341.64%
  • nearNEAR Protocol(NEAR)$1.982.23%
  • ArbitrumArbitrum(ARB)$1.34-2.40%
  • vechainVeChain(VET)$0.0232941.21%
  • algorandAlgorand(ALGO)$0.222122-0.30%
  • apecoinApeCoin(APE)$4.242.06%
  • internet-computerInternet Computer(ICP)$5.16-1.07%
  • eosEOS(EOS)$1.201.06%
  • fantomFantom(FTM)$0.4668630.51%
  • the-graphThe Graph(GRT)$0.143459-0.05%
  • blockstackStacks(STX)$0.90-0.90%
  • the-sandboxThe Sandbox(SAND)$0.631.31%
  • decentralandDecentraland(MANA)$0.592.46%
  • elrond-erd-2MultiversX(EGLD)$42.430.24%
  • aaveAave(AAVE)$74.344.23%