Ethereum Price has been picking up pace since the closure of September. The coin has reversed its trend with the start of October. And is rising on the charts with intermediate consolidations. The digital asset has been under consolidation for the past couple of days. The coin seems to be moving along a parallel chain, where it did fake-out in between.
The coin at press time values at $3,566.28, with gains of 0.9%. It did hit its 24-hour high of $3,615.35. The digital asset is finding it difficult to climb up its resistance at $3,620-$3,650 and is falling off that cliff. The candle needs to surpass its resistance, for a leg-up towards its ATH at $4,356.99. If the coin loses steam, we can expect a dip towards its support zones in the range of $3,300 – $3,376.
However, we can expect a consolidation phase for the next couple of days. Before, the digital coin starts showing signs of movement. On the other hand, a popular crypto analyst has set benchmarks for ETH for the first quarter of 2022. The targets are in the range of $15,000 to $20,000. The said targets are 5X to 6X greater than the current trading value of ETH.
With the much anticipated ETH 2.0 in the pipeline, we can expect ETH prices to surge, following, the update going live. The transition to Proof-of-Stake will hopefully, turntables for Ethereum. Helping it gain, its due share of perks and march towards its massive rally.
From past scenarios, it is widely known that altcoins tend to follow bitcoin’s suit. And a similar trend can be seen on the charts. However, with the dominance of Bitcoin subsiding, we can expect a relatable surge in the prices of the coin.