{"id":558278,"date":"2023-10-30T21:00:58","date_gmt":"2023-10-30T21:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=558278"},"modified":"2023-10-30T16:16:52","modified_gmt":"2023-10-30T16:16:52","slug":"ethereum-price-teetering-analyst-forecasts-surge-past-2000-on-one-condition","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-teetering-analyst-forecasts-surge-past-2000-on-one-condition\/","title":{"rendered":"Ethereum&#8217;s Price Teetering: Analyst Forecasts Surge Past $2,000 On One Condition"},"content":{"rendered":"<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">Ethereum (ETH), the second-largest crypto by market capitalization, has been in the spotlight due to its price action. A notable crypto analyst, Pentoshi, <a href=\"https:\/\/x.com\/Pentosh1\/status\/39255086?s=20\" target=\"_blank\" rel=\"noopener nofollow\">shed light<\/a> on the asset&#8217;s price trajectory, suggesting a possible uptick in value if current conditions prevail.<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">It is worth noting that this analyst&#8217;s predictions come at a time when Ethereum\u00a0<\/span><span class=\"selectable-text copyable-text\">trails behind Bitcoin&#8217;s recent price rally. Notably, while Bitcoin has recorded a 12.5% increase over the past week, Ethereum&#8217;s gains are modest, rising by 8.4% during the same timeframe.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum-resilient-above-1800-pre-fomc-meeting-vital-levels-to-watch\/\" target=\"_blank\" rel=\"noopener \">Ethereum Resilient Above $1,800 Pre-FOMC Meeting \u2013 Details<\/a><\/div>\n<h2 dir=\"ltr\"><span class=\"selectable-text copyable-text\">Ethereum Price Bracket Significance<\/span><\/h2>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">According to the analyst&#8217;s post, Ethereum&#8217;s immediate future could see an upward trend if it manages to close the week within a <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-restarts-increase-1825\/\" target=\"_blank\" rel=\"noopener \">specific price range.<\/a> The suggested target zone, between $1,796 and $2,148, is critical, as highlighted by Pentoshi.<\/span><\/p>\n<figure style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/F9nURCiXIAAvp9s?format=jpg&amp;name=medium\" alt=\"Targeted price zone for Ethereum to close above $2,000.\" width=\"1200\" height=\"759\"><figcaption class=\"wp-caption-text\">The targeted price zones for Ethereum to close above $2,000. | Source: Pentoshi<\/figcaption><\/figure>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">Should ETH&#8217;s closing price fall within this bracket, the analyst posits a potential path cleared for Ethereum to reach or even <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-faces-big-move-2000\/\" target=\"_blank\" rel=\"noopener \">surpass the $2,200 mark<\/a>. <\/span><span class=\"selectable-text copyable-text\">While Ethereum lags Bitcoin&#8217;s recent performance, the analyst remains optimistic about its prospects.<\/span><\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/3QsUztJY\/\" alt=\"Ethereum\/Bitcoin price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">ETH\/BTC price is moving sideways on the 4-hour chart. Source: ETH\/BTC on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3AETHBTC\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">Pentoshi indicates that Ethereum is <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-hints-correction-1750\/\" target=\"_blank\" rel=\"noopener \">approaching a &#8220;demand zone,&#8221;<\/a> on the BTC\/ETH ratio. Notably, this could stimulate buying activity and influence its price positively. <\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a><br \/>\nClosing this weekly back inside the range opens up the doors to $2,200<\/p>\n<p>Despite it severely underperforming BTC it&#8217;s now beginning to enter the demand zone on the btc \/eth ratio<\/p>\n<p>BTC is bullish as long as above the 31.5-32.5k area thus I&#8217;ll continue to have bullish bias\u2026 <a href=\"https:\/\/t.co\/Hwoi8jwr2O\" rel=\"nofollow\">pic.twitter.com\/Hwoi8jwr2O<\/a><\/p>\n<p>\u2014 Pentoshi \ud83d\udc27 euroPeng \ud83c\uddea\ud83c\uddfa (@Pentosh1) <a href=\"https:\/\/twitter.com\/Pentosh1\/status\/39255086?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">October 29, 2023<\/a><\/p><\/blockquote>\n<h2 dir=\"ltr\"><span class=\"selectable-text copyable-text\">Bitcoin&#8217;s Bullish Standpoint Maintained<\/span><\/h2>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">Pentoshi is bullish on Bitcoin, the pioneer cryptocurrency, provided it remains above a particular threshold. The $31,500 and $32,500 area is highlighted as Bitcoin&#8217;s support zone. The analyst maintains that staying above this range could sustain the positive outlook on Bitcoin.<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">However, a dip below these levels would suggest re-evaluating this bullish analysis. Regardless, Bitcoin does not currently appear to be moving towards any support but instead seems to be pushing above any resistance.\u00a0<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">In just four days, the asset has climbed from a trading price of $34,000 last Thursday to a present trading value of $34,760 at the time of writing. It\u2019s worth noting that BTC has embarked on a <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-on-chain-data-points-to-bullish-outlook-but-theres-a-catch\/\" target=\"_blank\" rel=\"noopener \">significant uptrend<\/a>, ascending more than 20% in the last two weeks.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-on-chain-data-points-to-bullish-outlook-but-theres-a-catch\/\" target=\"_blank\" rel=\"noopener \">The Hidden Signals: Bitcoin\u2019s On-Chain Data Points To Bullish Outlook, But There\u2019s A Catch<\/a><\/div>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">Ethereum has also experienced a rally but hasn\u2019t matched Bitcoin\u2019s momentum. Over the past 14 days, ETH has seen a 14.8% increase and is currently <a href=\"https:\/\/wncen.com\/news\/ethereum-resilient-above-1800-pre-fomc-meeting-vital-levels-to-watch\/\" target=\"_blank\" rel=\"noopener \">trading at $1,820<\/a>, marking a 1.4% rise in the last 24 hours alone.<\/span><\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/cnC8BZxi\/\" alt=\"Ethereum (ETH) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">Ethereum (ETH) price is moving sideways on the 4-hour chart. Source: ETH\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3AETHUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p dir=\"ltr\">Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum (ETH), the second-largest crypto by market capitalization, has been in the spotlight due to its price action. A notable crypto analyst, Pentoshi, shed light on the asset&#8217;s price trajectory, suggesting a possible uptick in value if current conditions prevail. It is worth noting that this analyst&#8217;s predictions come at a time when Ethereum\u00a0trails behind Bitcoin&#8217;s recent price rally. Notably, while Bitcoin has recorded a 12.5% increase over the past week, Ethereum&#8217;s gains are modest, rising by 8.4% during the same timeframe. Related Reading: Ethereum Resilient Above $1,800 Pre-FOMC Meeting \u2013 Details Ethereum Price Bracket Significance According to the analyst&#8217;s post, Ethereum&#8217;s immediate future could see an upward trend if it manages to close the week within a specific price range. The suggested target zone, between $1,796 and $2,148, is critical, as highlighted by Pentoshi. Should ETH&#8217;s closing price fall within this bracket, the analyst posits a potential path cleared for Ethereum to reach or even surpass the $2,200 mark. While Ethereum lags Bitcoin&#8217;s recent performance, the analyst remains optimistic about its prospects. Pentoshi indicates that Ethereum is approaching a &#8220;demand zone,&#8221; on the BTC\/ETH ratio. Notably, this could stimulate buying activity and influence its price positively. $ETH Closing this weekly back inside the range opens up the doors to $2,200 Despite it severely underperforming BTC it&#8217;s now beginning to enter the demand zone on the btc \/eth ratio BTC is bullish as long as above the 31.5-32.5k area thus I&#8217;ll continue to have bullish bias\u2026 pic.twitter.com\/Hwoi8jwr2O \u2014 Pentoshi \ud83d\udc27 euroPeng \ud83c\uddea\ud83c\uddfa (@Pentosh1) October 29, 2023 Bitcoin&#8217;s Bullish Standpoint Maintained Pentoshi is bullish on Bitcoin, the pioneer cryptocurrency, provided it remains above a particular threshold. The $31,500 and $32,500 area is highlighted as Bitcoin&#8217;s support zone. The analyst maintains that staying above this range could sustain the positive outlook on Bitcoin. However, a dip below these levels would suggest re-evaluating this bullish analysis. Regardless, Bitcoin does not currently appear to be moving towards any support but instead seems to be pushing above any resistance.\u00a0 In just four days, the asset has climbed from a trading price of $34,000 last Thursday to a present trading value of $34,760 at the time of writing. It\u2019s worth noting that BTC has embarked on a significant uptrend, ascending more than 20% in the last two weeks. Related Reading: The Hidden Signals: Bitcoin\u2019s On-Chain Data Points To Bullish Outlook, But There\u2019s A Catch Ethereum has also experienced a rally but hasn\u2019t matched Bitcoin\u2019s momentum. Over the past 14 days, ETH has seen a 14.8% increase and is currently trading at $1,820, marking a 1.4% rise in the last 24 hours alone. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":514768,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,6664,8323,1946,78803],"class_list":["post-558278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-crypto","tag-eth","tag-ethereum","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Teetering: Analyst Forecasts Surge Past $2,000 On One Condition<\/title>\n<meta name=\"description\" content=\"Ethereum (ETH), the second-largest crypto by market capitalization has recently been in the spotlight in the analysis community as...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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