Here's Why Ethereum Price Can Reach $5k in 2023, and Love Hate Inu Will Raise $10 Million
The primary token in the world’s largest smart contract ecosystem, Ethereum has topped $2,100 for the first time since May. Ethereum price blasted through resistance at $2,000 following a successful Shapella upgrade, previously referred to as Shanghai, on April 12.
Both Bitcoin and Ethereum have continued to surpass investor expectations since the beginning of the year and particularly after emerging stronger during the banking crisis in the United States.
Three crypto-friendly banks collapsed in March including Silvergate Bank, Signature Bank, and Silicon Valley Bank (SVB). Since then, regulators have been on a sprint to provide oversight, a situation that is troubling many crypto-based companies that are unable to find banking partners.
Ethereum price holds slightly above $2,100 on Saturday, with its uptrend mainly supported by the Shapella upgrade. A daily close above this level is required for bulls to maintain the lead relative to bearish advances.
Such a move coupled with the optimistic outlook from the Moving Average Convergence Divergence (MACD) implies that the path with the least resistance is to the upside.
Currently, all eyes are glued on resistance at $2,000 because if broken, it would propel Ethereum price to $2,400, or higher.
The hype around the beginning of a bull market is driving investors into the market in droves. Often this fear of missing out (FOMO) helps to build momentum during up-trending markets.
Ethereum price is suitably positioned to rally following its remarkable performance since the beginning of the year. This week’s spike above $2,000 confirmed the initial stages of a bull market.
Its older sibling, Bitcoin blasted above $30,000 changing the technical outlook for a potential rally to $38,000 in
Read more on cryptonews.com
