Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: Coinpedia Fintech News on April 14, 2023, 11:55:42 AM
-
In the last 24 hours, Ethereum (ETH), the world's second-largest cryptocurrency, has surged over 10%, surpassing $2,100 due to the successful implementation of the Shanghai hardfork. This is the first time since August 2022 that ETH has surpassed $2,000, and investors are now wondering what is next for the cryptocurrency. To answer this question, let's consider both the bull and bear case scenarios for Ethereum.
On the bear side, on-chain data provider Santiment has pointed out that the MVRV ratio (Market Value/Realized Value) score for Ethereum is 9.95%, indicating a low risk of a drop. However, the 365-day MVRV score is at 29%, the highest level since December 2021. Moreover, there has been a strong spike in the profit vs. loss transaction ratio, with 2.59 times as many transactions in profit vs. transactions in loss today, which could be a short-term bearish signal. The amount of ETH held by shark and whale addresses, holding between 10 to 100k ETH, has also been declining over the past month.
-
Ethereum price barrier was in June ,high was little bit above 2000$ next period was struggle to break resistance and ended fall down. Considering SECs action and next bull run in 2024 we could expect new high value by end of the this year. Q4 this year would be passing 2100$ to like 2200$. Nothing like 2020 year for Ethereum fall back then.