Next Ethereum (ETH) Price Rally Could Test $2,500, Here’s Why
Sponsored
Sponsored
Ethereum price retraced 7% over the weekend as markets reacted to potential sell-offs from Vitalik Buterin and the ETH Foundation. But with long-term holders standing firm, on-chain data gives hope of a positive ETH price prediction. Sudden exchange deposits Vitalik Buterin and the Ethereum foundation sent ETH price into an early retracement shortly after clearing the $2,000 milestone on May 5. But a deeper dive into the on-chain data suggests bullish Ethereum price predictions are yet to be invalidated. The next ETH bull rally could test the $2,500. Here are 3 reasons why. Long-Term Holders Remain Confident Firstly, the conclusion
Ethereum supporters are confident that prices will break the $2,000 level. However, recent moves by its founder, Vitalik Buterin, and the Ethereum Foundation, the team managing the smart contracting platform, raises concerns, especially from coin holders and traders, on whether the coin has what it needs to break above key…
There is a huge selling pressure in Bitcoin and altcoins. This selling pressure is also evident in Ethereum, and Ethereum wallets associated with Vitalik Buterin also contributed to this selling pressure. According to Spot on Chain’s post, a multi-signature wallet that received a large amount of Ethereum from Ethereum co-founder…
Ethereum co-founder Vitalik Buterin has been in the news of late with his 760 ETH withdrawal–a move that raised eyebrows as speculations about what such external wallet transactions by him could do to the Ethereum market. Transactions are part of a broader trend that has seen wallets associated with Buterin…