Yesterday, Wu Blockchain (@WuBlockchain) took to Twitter to share the findings of a recent survey conducted by OKX. The results indicate that 63% of respondents anticipate ETH to reach an all-time high of $5,000 by the close of 2023. Additionally, 83% of those surveyed predict increased ETH staking within the next three months. These results provide valuable insights into the market sentiment surrounding ETH and its growth potential shortly.
As of the latest update, the value of ETH currently sits at $1,876.17, having experienced a modest 0.42% increase over the past 24 hours, as reported by CoinMarketCap. This upward trend has contributed to the impressive weekly performance of the top alternative cryptocurrency, with a total gain of +2.79% over the past 7 days.
Despite its strong performance, ETH was outshined by the market leader Bitcoin (BTC), in the past 24 hours. Consequently, ETH has experienced a slight dip of 0.18% against its value.
Over the past month, the price of ETH has impressively double-tapped the resistance level at $1,710, ultimately leading to a breakthrough above this crucial threshold. Notably, on March 17th, 2023, the altcoin’s price successfully converted the resistance level into a supportive foundation. This development marks a significant milestone for ETH and highlights its potential for continued growth and success in the future.
The shift in the level occurred near the bullish crossover of the 9-day EMA line over the 20-day EMA line on March 13th. This fortuitous occurrence gave Ethereum the requisite backing to surpass the crucial price threshold of $1,850, which it presently maintains.
The price of ETH reached its pinnacle at $1,942.98 on Wednesday but has since retreated to the $1,850 range. If ETH fails to maintain its position above this threshold by the end of today’s trading session, it may experience a decline to the subsequent minor support level of $1,781 within the next 14-48 hours.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
