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Home News Ethereum News

Ethereum price may decrease to $1500 but remains attractive

UC Hope by UC Hope
February 7, 2021
in Ethereum News
2 min read
Ethereum price
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TR:DR Breakdown

  • Ethereum price may break above the $1800 level amidst recent downslide. 
  • ETH volatility a blessing in disguise for investors. 

This past week saw Ethereum price reach a new record, touching close to $1750 before decreasing recently. However, ETH is predicted to find stability at $1500. 

Ethereum price may decrease to $1500 but remains attractive 3
Ethereum chart Tradingview

According to the 4-hour ETH/BTC chart above, as per data from TradingView, the Ethereum price downslide started from the $1750 level before trading below the $1700 mark. Before this, ETH has maintained a steady increase from $1275 after trading below the Fib retracement point below 23.6 percent. However, it has substantial support close to the $1660 threshold. 

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Presently, the price of Ethereum is exchanging below $1650, but it is significantly above the 4-hour moving average. After the $1660 strong support, the next will be $1500, and any more decline will lead to another strong support at $1440.

What next for Ethereum price? 

Analysts have predicted that if the Ethereum price remains steady above $1500, an increase may follow as it may experience its most robust support at that level. 

Shortly, it may also increase above $1800 if all predictions come to pass. The closest resistance level is pegged at $1750, and a significant break above this level may pave the way for this increase.  

Ethereum remains a force in cryptocurrency 

The sudden increase in Ethereum price was unpredictable. As of January 2021, ETH traded at $1200, a 25 percent increase in its December 2020 value. Now, Ethereum is the most used cryptocurrency in the US after Bitcoin and Bitcoin Cash. 

Given its volatility in the market, a lot of investors are attracted to this asset. Ethereum is gaining a large stake in the market with increasing popularity every day. 

Many investors are presently looking at the possibility of using Ethereum as a healthy alternative to Bitcoin. With bullish runs predicted for Ethereum price, it is wise enough to think this, but Bitcoin remains the apex of cryptocurrency. 

UC Hope

UC Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer. He joins the team to contribute his insights with precision.

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