Can Ethereum (ETH) Be $5,000 in the Short Term?

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Despite the short-term losses Ethereum he does not lose the critical zone. And will this be enough to exceed $ 5,000, which is a zone of psychological resistance? At the end of June, $ 1,900 Ethereum (ETH) we were talking that it is extremely cheap for its price. Today, we are considering the possibility of breaking the $5,000 resistance. Ethereum it has been moving along the rising channel for some time, so where will the first stop be?

I ethereu (ETH)

The rising trend line has been rising since the beginning of October ETHit triggers price increases of and comes as part of a wider december of increased channels. As a result, Ethereumthe path of least resistance of the was upward, despite the retracements on the upper trend line of the channel, and its return from the quarter to date has now risen above 38%.

Recently, the rising trend line has been instrumental in reducing sales following the ETH rally to a new record high of over $4,870. This put analysts on hold for $5,000.

Ethereum (ETH) Price May Jump

MacroCRG as it managed to keep the rising trend line as a support following the latest price drop ETH he thinks his price should jump. By the way, there is another analyst who dec Pentoshi dec expected a rebound, but does not ignore the prospects for correction below the rising trend line.

Pentoshi’s downside target in the event of an extended price correction was close to $4,000, as shown in the chart below. ETHThe /USD 4-hour price chart shows the bearish target of the ascending channel.

Bloomberg Mike McGlone, senior commodity strategist, said last week that he expects a price of $5,000 for Ether, adding that the investment “makes portfolios consisting of some combinations of gold and bonds look increasingly naked, without some Bitcoin and Ethereum joining the mix.” So the concern about rising inflation BTC and ETHit increases interest in ’ Of course, this situation indicates that the rise can continue, at least in the short term.

Also Ethereum (ETH) more with increased transaction volume ETH it keeps burning. The amount of ETH deleted from the market exceeded $ 3.2 billion. It is expected that this will further reduce the amount produced per day in the coming period. The more the amount burned exceeds the size of the ETH produced, the higher the price can go up.

Disclaimer Of Liability: The information contained in this article absolutely does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and they should conduct their transactions in accordance with their own research.
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