The founder of Ethereum, Vitalik Buterin, is not a fan of the currency and has repeatedly stated his opposition to the currency on Twitter. Today, the price of Ethereum was over $400. This is way higher than it was last year right before the price of Ethereum tanked. Ethereum’s price is up an average of 75% this year. Last year, the price of Ethereum was down as much as 50% from the year prior. Because the price was down, I wrote an article titled “Ethereum and Why It Will Go Down in 2017.” This article still stands. I predict that Ethereum will go down in 2017.
The past few days have been bullish for the Ethereum price. The ETH price has been rallying since the beginning of the year, starting at the $150s and crossing the $300s in mid-February. However, over the past few days the price has taken a tumble back to the $200s, approaching the $200 support zone on numerous occasions.
The cryptocurrency market has seen a lot of volatility in the last few weeks. Following the halving, which has triggered a massive influx of interest into the market, the price of Ethereum has been topsy-turvy. On one hand, Ethereum has been enjoying a significant price hike in the last few weeks, especially since the halving event. However, Ethereum has also come under fire lately, since a lot of the price gains have been fueled by a lack of regulation.. Read more about ethereum stock price today and let us know what you think.
The cryptocurrency community may be delighted, if not euphoric, over Bitcoin’s performance. Despite this, there isn’t much going on in Ethereum.
ETH/USD has remained somewhat “stable” inside a $500 zone, with marked limits at $3k on the lower end and $3.5k on the higher end.
These are crucial levels. Without a doubt, any response will have an impact on Ethereum’s medium-term direction.
The Status and Performance of the Ethereum Market
At the time of writing, Ethereum is up a meager 1% week-to-week and a sluggish 2% on the previous trading day, recording gains against the US dollar.
Surprisingly, ETH is up 2% versus BTC, despite the latter breaking the $50k barrier over the weekend.
The price of ETH’s steadiness may be a sign of potential accumulation.
Since ETH prices remain solid over $3k, and bulls are rejecting any attempts at lower lows, there is a case for this.
It’s a much-needed vote of confidence for the market and ETH holders in the coming days–especially given that the network is nearing the end of its plan.
The ETH price is limited below $3.4-3.5k on the daily chart, with prices particularly ranging within the August 13 bull bar.
This technically indicates buyers in terms of effort-versus-results.
Regardless, ETH bulls should be able to push prices over this brief liquidation level, which would be a strong confirmation. If that’s the true, Ethereum prices may surge higher in a buy trend continuation pattern, reaching $4.3k—May 2021 highs.
Most traders are optimistic, anticipating rises in the days ahead, due to the tenacity of Ethereum purchasers and bearish’ failure to wind down gains from August 13.
If Ethereum buyers break the $3.5k barrier, the move to $3.9k will be “quick.”
One trader identified $3.5k as a significant resistance level on Twitter. If this line is broken to the upside, the analyst expects a “quick” rise to $3.9k.
From here, a break of 3.5k and 3,900 will be quick. pic.twitter.com/PLuQJq0bmZ
August 21, 2021 — Crypto Brains (@Crypto Brains)
The trader identifies $2.9k-$3.1k as solid support and $3.5k as resistance based on price activity on the daily chart.
As a result, the current squeeze may provide a chance for aggressive, risk-averse traders looking for further moonshot buy trend continuation back to May 2021 highs.
Other traders have also emphasized the importance of $3.5k.
In the analyst’s opinion, the rise to $3.5k was inevitable after ETH/USD broke over $3.2k—a minor reaction level—in a bullish breakout pattern over another trend line.
H Binance $ETH/USDT
The price has broken past both the horizontal and descending resistance levels of $3200!
The next destination for $ETH is the $3500 zone, where we will be waiting for you.
Click to share it. pic.twitter.com/avJghTHfzD
August 22, 2021 — CRAZY RUSSIAN (@rutradebtc)
ETH prices are now solid and optimistic, ranging between $400 and $500.
As the price of ETH/USD falls, the next target is $4.4k.
As a result, purchasers must break through the immediate barrier.
Another trader on Trading View predicts that if buyers break through the local peak of $3.4k-$3.5k, ETH prices will soar to all-time highs of $4.4k.
As a consequence of this potential development, the trader is now “buying the ETH/USD” drops in lower time frames.
The trader is even more optimistic, hoping for even greater profits if the BTC bull run continues over $51k. In that case, Ethereum might go much higher, further solidifying his prediction.
Trading View provided the charts.
Disclosure: The author’s opinion is his or her own. Make your own investigation.
Frequently Asked Questions
What is the forecast for Ethereum for 2021?
Ethereum is a cryptocurrency that has been in existence since 2015. It is currently the second most valuable cryptocurrency in the world, with a market cap of over $28 billion.
Is Ethereum a good investment in 2021 what is Ethereum worth in 2025?
Ethereum is a cryptocurrency and it is worth $1,000 in 2021. In 2025, it could be worth $2,000 or more.
Will Ethereum ever go back to 4000?
Ethereum has been trading around $300 for the past few months, so it is unlikely that it will ever go back to 4000.