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April 21, 2024
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Top Reasons to be Bullish on Ethereum-Could Reach $2000 by the end of Q1 2023

The post Top Reasons to be Bullish on Ethereum-Could Reach $2000 by the end of Q1 2023 appeared first on Coinpedia Fintech News

Ethereum’s price has been trading quietly without making huge noise and within a very narrow trend. Ever since the price rose beyond the pivotal levels at $1500, the trend remained consolidated between a very narrow range.

However, the direction of the upcoming trend remains hazy as an equal brawl between the bulls and bears is currently taking place.

Despite all the odds, a couple of reasons do point towards the resurgence of the Ethereum bull run very soon. 

Source: Tradingview

When looking at the trend line, the “bump and run” strategy that signifies the reversals that may occur suggests an event may be in line.

Besides, the indicators like moving averages indicate that the ETH price carry a huge potential for an upside correction. Previously, the bear market was confirmed when the price had lost the 100D MA levels. 

Presently, the ETH price is trading right on top of these levels, which have been secured after more than 400 days of consolidating below them.

Hence flashing extreme bullish signals in a short while from now. With a bullish breakout, the Ethereum (ETH) price is believed to reach beyond crucial resistance at $1800 initially and later may attempt to rise beyond $2000.

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