Ethereum Price Consolidates Below 8 Month Trend, Is $4000 Incoming?


• ETH price has risen nearly 100% over the last month
• ETH Price has been forming an ascending channel
• The 20MA has been holding as support for over 3 weeks

Is $4000 ETH Price Incoming?

Ethereum (ETH) price has shown immense strength after it successfully launched its “London” upgrade earlier this month. One of the advancements with this upgrade is that now ETH is burned from each transaction, essentially bringing ETH closer to a deflationary asset. At the time of writing, over 71,000 ETH has been burned since this upgrade. Investors took a bullish stance towards this & since the upgrade took place, ETH has been in a strong uptrend. As long as BTC stays steady, ETH will likely hit mid $3000s soon.