“Wait For The Rise” These Levels Marked On Ethereum Before ETH 2.0
Ethereum has been following Bitcoin closely recently. After the news about the OKEx founder, it was observed that BTC and ETH are moving towards lower levels.This decline was short lived, and the bulls quickly began to take action and absorb this selling pressure.
Analysts now state that the upside for the market could be close and ETH could show a serious performance in the medium term.One analyst points to ETH 2.0 as a bullish catalyst that could help push up to $ 700. Ethereum and the entire altcoin market have been in sync with Bitcoin in recent weeks.
This primarily contributed to the long-term consolidation phase seen recently. There is a strong possibility that ETH will struggle to gain any momentum independent of Bitcoin in the near term.However, one analyst points to the potential Tier 0 delivery of ETH 2.0 as an upward catalyst – which could start within a week.
While ETH doesn’t appear to be as technically bullish as Bitcoin right now, news surrounding the start of the ETH 2.0 offering states that it could open the doors for a move towards $ 700 in the near term.
Ethereum Is Consolidated Alongside Bitcoin If Volume Is Increasing
Ethereum is trading at the current $ 369 price level. This is the price level at which it has been trading for the past few days. The recent decline was in the form of a slow decline, although it has moved to a lower level since moving the base above $ 380.This allowed Bitcoin to outperform it and this trend may continue until the transaction volume rises.
ETH Could See $ 700
While sharing his thoughts on Ethereum, an analyst stated that ETH 2.0’s recent launch of Phase 0 could be just what it needs to recover to higher levels and stressed that ETH could hit $ 700 levels.
The next few days may provide insights into exactly when the Ethereum 2.0 Phase 0 rollout begins and whether it will be a bullish catalyst.