Bitcoin managed to breach the psychological price of $30,000 after an extended sideways trend. In light of this price boom, Ethereum prices also saw a price hike. ETH is nearing its psychological price of $2,000 and needs a small push to do so. Will Ethereum reach $2,000 and break higher? Is it good to buy Ethereum today? Let’s analyze in this Ethereum price prediction article.
Why is Ethereum up?
The Ethereum chart below shows how prices skyrocketed from the low of $1,400 to the current price of just above $1,900. Many factors contributed to this price hike, including:
- The collapse of major US banks
- The bad macro outlook on legacy markets
- Bitcoin breaching 30K
The last reason is the biggest, which should help altcoins rise further in the coming days.
Ethereum Price Prediction: Will Ethereum reach $2,000?
The probability of Ethereum breaching $2,000 higher became very high as Bitcoin breached its own resistance price of $30,000. If this doesn’t turn into a fakeout, Ethereum is expected to breach $2,000 higher, bringing other altcoins with it.
On the other hand, if the event turned out to be a mere fakeout and BTC plunges back lower, Ethereum should adjust lower and go back towards a price zone of around $1,750.
Is it Good to buy Ethereum Today?
Buying Ethereum today might be a bit risky, as the $2,000 price mark represents a strong resistance for ETH. Furthermore, if Bitcoin’s breach turns out to be a fakeout, Ethereum’s price will decrease, making it a bad idea to buy Ethereum today.
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Source: https://cryptoticker.io/en/ethereum-about-to-reach-2000-after-btc-reached-30k/