cryptoglobe.com
On Saturday (March 13), the Ethereum price went above the $1940 level for the first since February 21. Today’s surge prompted at least two crypto analysts to forecast that ETH would reach $2500 in the short term.
According to data by TradingView, around 21:16 UTC, on crypto exchange Bitstamp, the Ethereum price went reached its intraday high of $1943.22; today is the first time that ETH has traded above the $1940 level in the past three weeks.
Currently (as of 22:50 UTC on March 13), ETH is trading around $1911.74, which means that in the past 24-hour period the Ethereum price has gone up 8.50%; as for its year-to-date (YTD) return on investment (ROI), ETH-UD is up 159.21%.
Earlier today, Simon Dedic, who is Co-Founder and Managing Partner at Moonrock Capital, a blockchain advisory and investment partnership based in London and Hamburg”,made the following Ethereum price prediction:
$ETH will go to 2500 next week and is going to take all alts with it.
— Simon Dedic (@scoinaldo) March 13, 2021
Later, crypto analyst and influencer Carl Martin, explained with the help of technical analysis why he believes the Ethereum price is headed to $2500:
#Ethereum breaking the cup & handle, with a target of $2,500!!! pic.twitter.com/gmnCdz6JxY
— The Moon 🌙 (@TheMoonCarl) March 13, 2021
As for Scott Melker, a crypto analyst and trader at Texas West Capital, he said that according to his analysis of Ethereum charts, it looks like the demand for ETH is strong.
$ETH
— The Wolf Of All Streets (@scottmelker) March 13, 2021
Ethereum is holding support on the $BTC pair – a bit surprising on a move this meaningful for Bitcoin.
Strong demand here, pierced the bottom.
This could be an epic sign for alts if it continues to rise. pic.twitter.com/JEJOldEYhU
Featured Image by “elifxlite” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.