The star altcoin Ethereum, which has made giant strides in DeFi space has been making its headway to higher highs. Further, the second most valued asset hit an ATH of $4,400 on early Friday post the effectual integration of the Altair upgrade on the Beacon chain. The launch has been a vital step en route for a much faster and eco-friendly version of the existing system.
With the latest upgrade, Ethereum has decoupled its move from the market leader. While Bitcoin experienced negative gains of 2.67%, the star altcoin ruled the space with 5.09% gains over the past 7 days. It appears that traders might be shifting their BTC gains to its counterpart followed by the latest integration.
Analyst Alludes Potential Ethereum Entry and Exit Zones!
The popular crypto analyst Income sharks signified probable entry and exit points to trade Ethereum. The price pattern seems to have closely followed as per the analyst’s prediction. Earlier Friday, he shared a chart where he was optimistic about his exit points around $4,250. Interestingly, with a minimal difference, the star altcoin flipped at $4,350.
The chart shown by him highlights Ethereum’s entry and exit entries. The altcoin has followed the cycle of run and consolidate. Initially, the price broke out at $3,400, later consolidated to around $3,700. Further, managing the uptrend the altcoin jumped to the $4,200 mark and consolidated for a while. The last break out was at $3,900, where the price clinched the ATH mark of $4,400.
By observing the pattern, the analyst indicated potential entry points to trade Ethereum. He expects the price to plunge between $4,050 to $4,150 before taking up another leg up in the next couple of hours. On the other hand, Lark Davis, a popular crypto analyst is hopeful of an ETH price rally to $5,000 in a couple of days.
However, the latest report from the Santiment has further highlighted the surge in the circulation of the number of unique tokens on the Ethereum network. Prior to running towards new ATH, on Tuesday the network has registered a massive circulation of unique tokens of around $1.74 million.
On the whole, whooping predictions are doing rounds in the market post the launch of its latest integration. Moreover, on-chain metrics look healthy for the 2nd most valued asset. Popular analyst EthereumJesus expects Ethereum price to hit $20k in the near term. And Micheal Van de Poppe is hopeful of a price surge to $10k in the upcoming bull cycle.