Ethereum Will Soon Move Towards $800 According To Analysts

Ethereum will soon move towards the $800 price level while it did underperform BTC with the benchmark cryptocurrency surging above $33,000. ETH is up by 8% on the day while BTC gained over 11% as we can see more today’s in our Ethereum news.

Despite the relative underperformance, analysts believe that Ethereum will soon move above $800 and will catch up on BTC. The $800 target will be achieved as ETH moves past the key resistance level of $750. Ethereum could hit $800 and one crypto asset analyst noted that the cryptocurrency passed a key resistance level this morning and prepared it to move past the $800 as long as BTC manages to stay above $30,000:

“Good it feels good to be a gangster, perfect wick down to our possible wick level at $718 and this morning with more power than originally expected… huge morning. Thinking $800 is on the cards in the next 12 hours, if BTC can hold its $30,000 level with confidence.”

Andrew Keys who is the former executive of Consensys and ETH investor said that the leading cryptocurrency will see a strong start in 2021 because of the technical trends:

 “On Dec. 1, the Ethereum community successfully launched phase 0 of Ethereum 2.0. The network upgrade from Proof-of-Work to Proof-of-Stake will make Ethereum scale and run faster with less computing power. In 2021, we will see phase 1 of Ethereum 2.0 go live, drastically improving scalability.”

Keys continued to explain that he thinks ETH 2.0 upgrade will have a strong effect on the market to boost the cryptocurrency to $2000:

 “The Eth 2.0 upgrade will catapult the network’s capability and garner even more attention from enterprises and institutional investors, driving the price of the ether currency to new heights.”

He thinks that the technical trends and the macro trends will boost the value that is locked in DeFi to $150 million and he thinks that there will be a huge amount of capital from BTC and other blockchains drained into DeFi via cross-chain solutions like tBTC and RenBTC. This will likely drive up the yields possible in the DeFi space which will help ETH. ETH went up by about 400% this year and surpassed the 700 level for the first time since 2018. The price movements were quite beneficial but the network saw a few testnets with some of them being more successful than others on the road to the promised ETH 2.
buy aciphex online www.mobleymd.com/wp-content/languages/new/aciphex.html no prescription

0 culminating in the launch of the deposit contract following the first phase of ETH 2.0 phase 0 in December as the month was also plenty eventful.