Ethereum Price Forecast: ETH / USD Rises 15% to $ 135
There have been virtually no noticeable changes in the rates of major cryptocurrencies in recent days. The market seems to be in a lateral phase, the duration of which cannot yet be predicted. However, the measures taken by politicians to cushion the financial consequences of the global corona crisis seem to have brought some stability to the financial markets. It is not only the crypto market whose prices benefit from the billions of dollars in help packages that have been put in place by the German government in Germany, the Trump administration in the United States, but also by many other countries affected by the corona crisis. The share price also ended its decline.
If you look at the evolution of prices over the last seven trading days in the crypto market, the top 10 cryptocurrencies by market capitalization have all registered significant price gains. Almost 24% of the market leader Bitcoin and Bitcoin SV, even more than 40%. With the other altcoins, the gains are around 10 to 20%. This is also where Ethereum ranks as the most valuable Altcoin. In the weekly analysis, the ETH / USD exchange rate increased by almost 15%.
The most important facts about the evolution of the ETH / USD exchange rate
Let’s examine the most important facts about the evolution of the ETH / USD exchange rate during the last trading week:
- Last week’s maximum price was $ 151.34 on March 20 at 12:25 p.m. CET.
- The trading week low reached ETH / USD on March 23 at 9:40 a.m. CET at $ 121.90.
- Last week’s median price was $ 136.62.
This means that ETH / USD is currently trading just below the weekly average. However, the price has been in the range of $ 135 for several days. Investors in Ethereum are of course eagerly awaiting the return of a dynamic movement. And above all: in which direction the trend is then reversed.
The current price level is certainly not what most investors want to be satisfied with. After all, less than a month and a half ago, the ETH / USD was even more than double its current level. The price reached more than $ 284 on February 14. The descent then began in March. Compared to the start of 2020, investors do not have to complain about losses despite the Corona crisis. So, if you were already invested at the time, you can even expect minimal profit for the current year. At the time, Ethereum was trading at $ 130, slightly below the current level.
Latest news on Ethereum
While Bitcoin and Bitcoin Cash investors expect positive price effects from the next halving, Ethereum investors focus mainly on the launch of Ethereum 2.0. Apparently development is progressing here. Danny Ryan, the project coordinator for Ethereum 2.0, said that the Phase 0 specification audit of Ethereum 2.0 has been completed. It is assumed that Ethereum 2.0 could be launched on July 30, the fifth anniversary of Ethereum.
It remains to be seen whether the ETH / USD exchange rate can really benefit from Ethereum 2.0. As always, altcoin investors should always keep an eye on prices so that they can react to price changes in good time.
The pricing information in the article is based on CoinMarketCap cryptocurrency graphics at the time of article publication.
Image source: The picture by BeatingBetting