Ethereum Price Prediction As 21Shares Says ETH Is Amazon of The 1990s And This Crypto Casino ICO Heads For $1 Million
The Ethereum price edged up a fraction of a percent in the last 24 hours to trade at $2,472 as of 03:29 a.m. EST on trading volume that surged 19% to $14.65 billion.
This comes as 21Shares tells CoinTelegraph that Ethereum has the same exponential potential as retail titan Amazon did in the 1990s before it became a $2 trillion colossus.
The fund manager said Ethereum could also surprise investors with new “revolutionary use cases” that have not yet been discovered.
Ethereum Price Aims For A Sustained Rally
The Ethereum price has been trading on an ascending triangle pattern since August, as the bulls encountered resistance within the $2,725 level, according to data from GeckoTerminal .
However, the price still remains below both the 50-day and 200-day Simple Moving Averages (SMAs), with the 50-day SMA acting as the immediate resistance at $2,527.
The Relative Strength Index (RSI) is moving within the neutral zone at 45, which shows that ETH price is currently in equilibrium, with a potential to soar.
If the bulls sustain the bullish trend within the triangle, the price of Ethereum could continue soaring, as the bulls target prices above $3,200 in the long term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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