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28 February 2021
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Ethereum

Will Ethereum price hit USD 2,000 before MARCH 2021?

Since the beginning of 2021, Ethereum price has been on a healthy uptrend. Many projects using ERC-20 have seen tremendous success in their launch, and the DeFi market was pushed to the mainstream just as planned. Today, there’s less than USD 100 between Ether’s price and the 2K price target. Will Ether be able to reach and breach this price area anytime soon?

Ethereum Price Prediction – Healthy Technicals in Place

Despite past price adjustments, Ethereum price remained part of its uptrend behavior, which is clearly visible in figure 1. Ethereum as a blockchain matured nicely in way that lessens the impact of strong panic selling. With the different term-deposit products given by most exchanges and the attractive high interest rates, there isn’t much room for a negative outlook.

 

ETH/USD 4-Hours chart showing Ether's uptrend
Fig.1 ETH/USD 4-Hours chart showing Ether’s uptrend – TradingView.com

Will Ether’s price reach 2K soon?

 

Ether’s current price stands around USD 1,920 and is USD 30 away from its previously reached ATH of USD 1,953. Not only can Ether reach 2K, but once breached, the price can go as high as USD 2,115 as per the Fibonacci retracement in figure 2,

 

ETH/USD 1-Hour chart showing Ether's potential reach
Fig.2 ETH/USD 1-Hour chart showing Ether’s potential reach – TradingView.com

Of course, profit predictions are always one part of the equation, and the other part is the risk management aspect. In case purchasing power weakens and momentum fails to push prices further, a potential retracement is expected to bring prices down to USD 1,800 levels.

The whole Cryptocurrency market

In the past 24 hours, the whole cryptocurrency market was up, with one major news happening, which is Binance Coin surpassing Tether to become the 3rd largest cryptocurrency by market cap:

1- Bitcoin (BTC) : + 2.88 %

2- Ether (ETH) : + 2.07 %

3- Binance Coin (BNB): + 55.23 % (surpassing Tether)

4- Tether (USDT) : 0 %

5- Polkadot (DOT) : + 7.98 & (surpassing Cardano)

6- Cardano (ADA) : + 0.74 %

7- Ripple (XRP) : + 6.17 %

8- Litecoin (LTC): + 1.75 %

9- Chainlink (LINK) : + 5.60 %  (surpassing Bitcoin Cash)

10- Bitcoin Cash (BCH) : + 4.39 %

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