Crypto News – Ethereum (ETH) will hit $3,000 in the next few months, according to cryptocurrency expert Altcoin Sherpa, who has 198,900 X followers. Sherpa cited ETH’s past price movement and seemed confident in his forecast.
Thoughts on ETH Price Shared by Cryptocurrency Analyst Altcoin Sherpa
The analyst supported his argument by pointing out that it hasn’t closed above $2,200 for roughly a year and a half. He went on to say that the anticipated breakout would result from this altcoin’s failure to reach the specified value.
As of the time of writing, ETH was worth $2,042. The coin broke above $2,100 earlier this week. But the price fell back below $2,100 as a result of some selling pressure and unfavorable market sentiment.
Golden Cross Pattern Seen in ETH
However, given that ETH spent a considerable amount of time trading between $1,800 and $1,900, its ability to maintain its $2,000 range may indicate some minor strength. It’s probable that ETH will continue to trade between $1,800 and $2,100 in the near future. However, the ETH/USD daily chart indicated that the altcoin has the potential to break out of this narrow trading range in the upcoming months, as Sherpa mentioned.
The 200 EMA (yellow) had been crossed over by the 50 EMA (blue) at the time of publishing. Properties connecting a bullish breakout for the establishment of a long-term upswing are present in this upward crossover, also known as a golden cross.
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