David Keller, Head of Sierra Alpha Research, evaluated Ethereum’s current price performance and made his predictions via social media. shared. According to Keller, the leading altcoin will continue to rise.
As noted by Keller, ETH, the largest altcoin in the market, has rallied by 60% from its June 2022 low. However, Keller believes that the real rally for Ethereum will happen when it finally breaks the $1,700 resistance. According to Keller, if Ethereum can overcome this hurdle, it could possibly reach new highs of $2,000 or higher.
The leading altcoin is currently trading at $ 1576. A rally towards Keller’s target would mean a 27% rally for ETH.
Koinfinans.com As we reported, Ethereum was in rally mode ahead of the upcoming Shanghai update, which is expected to launch in March. The highly anticipated update will make it possible to withdraw staked Ethereum tokens.
Despite this increase in Ethereum price, Bitcoin, the largest cryptocurrency, is not sitting idle. BTC is trying to regain its previously lost dominance in the crypto market. According to data provided by CoinMarketCap, Bitcoin holds more than 42% of the entire crypto market cap.
You can follow the current price action here.