Aug 27, 2021 10:38
What a week it was for cryptocurrencies! If you are an avid reader of CryptoTicker's price predictions, you are definitely in the greens in your trades. Prior to this current crypto market boom, we predicted how prices were bound for a breakout higher. Targets 1 and 2 were successfully reached, and now we are aiming for the third take-profit level. Can we see an Ether 3K price soon? Should you buy Ethereum today?
It's about TIME to have an Ether 3K!
After the recent crypto market crash, Ether prices entered an extended consolidation that was delimited by the USD 1,800 and the USD 2,300 price areas. Some people are still not interested much in this current uptrend, but technical prices prove them wrong. In fact, prices broke out from the resistance area of USD 2,300, and today's Ether price stands around USD 2,450. If prices stay above this resistance area, we can expect higher prices in the coming week.
Fig.1 ETH/USD 1-day chart showing a break in the resistance price upwards -
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Ethereum Price Prediction - Can ETHER reach USD 3,000?
Looking at the current technical price of Ether, one cannot but expect a further increase in prices. This comes in tandem with a positive outlook in the entire cryptocurrency market. Bitcoin and other Top 10 cryptocurrencies managed to increase by more than 20% in market capitalization. For Ethereum, prices are currently up by 12% in the past week. There's no excuse as to why the world's biggest smart-contract blockchain won't increase also in prices similarly. Ethereum today hosts many Dapps that rely on smart-contract features.
Since prices are currently above the previous resistance of USD 2,300, prices are expected to continue higher to reach the psychological price of USD 3,000. Usually, whales are the only players that stand in the way of such events happening. They might interfere around USD 2,800, as previously this same area represented a strong consolidation level. That's why a sensible take-profit would be around that very same area.
Fig.2 ETH/USD 4-hours chart showing a potential profit-taking area -
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The Crypto market at a Glance
In the past 24 hours, most cryptocurrencies closed higher as the upwards momentum is still going strong. NEO, ThorChain, and Qtum are the top gainers across all cryptocurrencies, with gains of 28%, 17%, and 16% respectively. The top 10 cryptos also showed strong price increases, averaging 5%. For the cryptocurrency market though, this is a normal day ;)
1- Bitcoin (BTC) : + 5.8 %
2- Ether (ETH) : + 4.6 %
3- Tether (USDT) : 0 %
4- Binance Coin (BNB): + 6.0 %
5- Cardano (ADA) : + 2.5 %
6- Ripple (XRP) : + 1.4 %
7- USD Coin (USDC) : + 0 %
8- Dogecoin (DOGE) : + 2.6 %
9- Polkadot (DOT): + 7.8 %
10- Binance USD (BUSD) : + 0 %
Stay Ahead, Stay Updated
Rudy Fares
ethereum scalability Arbitrum OKEx
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