Leading cryptocurrency Bitcoin (BTC) breaking the all-time record is of course the second largest altcoin by total market capitalization Ethereum (ETH) It also brought excitement.
ETH price broke the all-time record by climbing up to $ 4,400, but this rise does not seem to satisfy analysts. $ 5,000, which is seen as a psychological resistance, is now on the tongue of many analysts and the new target seems to have already been determined.
Everything Ready for Ethereum
The famous Imler, who analyzes Ethereum, looks at the $ 5,000 price target with certainty.
It is known that in 2018, some analysts even made a long-term forecast of $ 20,000 for Ethereum.
Ethereum’s EIP-1559 update now puts the network in a deflationary structure and the more transaction fees are used, the more ETH is burned. In this respect, Ethereum, which has managed to surpass even the stock-supply balance of BTC, is the crypto currency that will “take the biggest position” according to the famous analyst ShardiB.
The only point that supports the Ethereum price is not the forecasts of the analysts. Looking at the rates of 3-month futures, it is seen that long positions do not decrease even with the decrease from $4,300 to $3,900.
The options market also comes to the fore with buy orders and everything seems positive for Ethereum at the moment. The Fear and Greed Index also indicates that there is still a chance to rise, and with the data from the spot, futures and options markets, it is possible to see a boom in ETH price.
*Not Investment Advice.