New ATH after Berlin: Ether (ETH) hits all-time high at $ 2,680. This apparently unsurprising increase should continue in the weeks that follow.
A predictable and applauded break
According to data from Cointelegraph Markets and of TradingView, the course ofEther increased by 27% in the 5 days leading up to April 27, 2021, from $ 2,107 on April 25, 2021 to a new ATH to $ 2,756 on April 28, 2021.
The structural increase inETH is due to the development of DeFi, NFTs, but also to the gradual launch of the major functionalities of theETH2. The update Berlin was deployed on April 15, 2021, less than 2 weeks before reaching the current all-time high.
Some traders or analysts had predicted this upward surge in the price of theETH. On April 21, 2021, the founder and CEO of Real Vision Group, Raoul Pal, predicted an imminent breakout.
The price ofETH had progressed following the upheavals in the markets BTC April 24, 2021. Bitcoin (BTC) then plunged to $ 46,000 on some exchanges, before subsequently rising above $ 54,000.
The data VORTECS ™ from Cointelegraph Markets Pro began to detect a probable rise in the price ofETH April 25, 2021.
The score VORTECS ™ is an exclusive indicator of Cointelegraph. It is an algorithmic comparison of historical and current market conditions, derived from a combination of data points including market sentiment, trade volume, recent price movements, and Twitter activity.
It’s gone to last!
The rise in the price ofETH was complicated by the explosion of gas on Ethereum, especially before the launch of Berlin. Gas costs have since started to decrease to more manageable levels.
This drop is also the cause of an increase in the volume of exchanges on the main DEXs such as Uniswap and SushiSwap.
Analyzes expect the current rise to continue. April 27, 2021, Rage indicates in a tweet his forecast of a gain of 15% to 20% of theETH on the BTC during the next 2 weeks.
Ether is trading at $ 2,736 at the time of writing. This AHT comes at a time when Bitcoin is back on the upward path. Will the progression of the ETH price be stopped by the classic theory of a Bitcoin overshadowing its younger siblings? The $ 3,000 is not far away: will you meet at this symbolic level in May 2021?
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The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.