Bitcoin has led the charge higher, per the usual for this bull market thus far.
So that always leaves us to wonder when the alts will follow. The largest alt being ETH is always of note to watch.
ETH and 2K....
So after a real brief visit to 2K on the price of ETH we have seen a rebound after the crash down into the 1300s.
The rebound rally has been rather orderly, touch on the 10 day moving average on the way up each time price paused to consolidate.
That is constructive price action for a continued push higher and at the point the next upside target is the all time high.
That top is really 1,960 based on an opening and closing basis. Thus a close above that, but ideally above 2K would mark new territory.
From there the intraday all time high can be knocked out and fresh prices above attained.
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I am of the impression that ETH is being held back only by ETH 2.0 news. When we hear some news on it, we may see Ethereum move a whole different color to BTC. ETH2.0 will be insane because it won't be introduced in an environment of uncertainty about crypto, it will be full on adoption by the time it is introduced.
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Agreed, they need to hurry up! lol
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I have a strong feeling it will, however all this crap about miners fighting back on EIP 1559 and Ethereum 2.0 need to get done already. Until those two things pass it's going to continue to cloud doubt across that blockchain. Once completed, super high fees are removed and a faster chain we should see Ethereum skyrocket if not even possibly bypassing Bitcoin some day.
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Agreed. And the validators planning a sort of revolt against EIP 1559 is short sighted and greedy. ETH is risking its top position in the dApp space every day they don't get the network issues rectified.
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I'd say we haven't had a proper altcoins season yet so ETH should start rallying. Mid summer is when I believe it will get over $5000. Curious though how high will this thing get this bull cycle.
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Sounds good to me man!
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ETH needs to fix gas price issue first. Smaller investors gave up on ETH and stop using the chain these days. To drive the price up ethereum needs more people using it. This will not happen until the gas war is over.
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