‘V-shaped’ recovery expected soon!
The price for Ethereum should soar with the start of the ETH 2.0 phase 0 beacon chain, but unfortunately the price development in a narrow region. Bullish sentiment still surrounds the price, however, as many believe the ETH price rally could make you a millionaire this year.
Currently, the price is on the verge of regaining previous positions around the ATH with a V-shaped rebound very soon. As soon as the price crushes the ATH, the path to the higher levels is clear. According to a well-known analyst, The Moon, the Ethereum price could reach as high as $ 3,000 in any day.
In addition, the drop from ATH levels around $ 2152 to recent lows at $ 1930 is speculated as a last chance to accumulate ETH below $ 2000. As said by another Galaxy analyst, the price is expected to rise from now on until the price reaches $ 3,000 per ETH.
Bears can take over the price rally in Ethereum
In contrast to Bitcoin, the ETH price rally seems to have a steady approach without steep jumps and pumps. Although the price is viewed as undervalued by many analysts, it is approaching the MA level.
The price is expected to climb close to $ 2500 by the end of this month, however a slight pullback could also be underway. According to analysts at Helical Trades, ETH price could drop below $ 2000 before rising to levels above $ 2300.
The analysts mentioned that price has four main pressure zones that can control price movements ahead of the BTC price rally. All of the below mentioned zones are critical:
- Resistance zone between 2073 and 2093 US dollars
- Print zone between 1973 and 1994 US dollars
- Print zone between $ 1912 and $ 1932
- Support Zone between $ 1840 and $ 1860
If the Ethereum price stays strong in the current pressure zone, the price can break the resistance zone and rise high. Otherwise, ETH price could fall towards the support zone as the 200 MA line is trending in this region.