{"id":524945,"date":"2023-03-30T10:00:25","date_gmt":"2023-03-30T10:00:25","guid":{"rendered":"https:\/\/wncen.com\/?p=524945"},"modified":"2023-03-30T10:51:03","modified_gmt":"2023-03-30T10:51:03","slug":"ethereum-poised-to-breach-2000-ceiling-in-coming-months-heres-why","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-poised-to-breach-2000-ceiling-in-coming-months-heres-why\/","title":{"rendered":"Ethereum Poised To Breach $2,000 Ceiling In Coming Months – Here’s Why"},"content":{"rendered":"

The second biggest cryptocurrency, Ethereum, has been generating buzz in the past few days as the market rebounded. At the time of writing, the global cryptocurrency market is up 2%, according to CoinGecko\u2019s latest <\/span>data<\/span><\/a>. This has presented a bullish signal for investors, which is certainly the reason for Ethereum\u2019s recent price ascent.<\/span><\/p>\n

The latest market data shows ETH <\/span>pumping<\/span><\/a> nearly 3% since last week. Although its rise is slightly slower than that of Bitcoin, this is a positive sign for investors in the long run. Ethereum\u2019s upcoming Shanghai network upgrade is also expected to solidify the altcoin\u2019s position in investor portfolios.<\/span><\/p>\n

\"\"<\/p>\n

Source: Coingecko<\/pre>\n
Short Positions Blasted As Bulls Charge Through<\/strong><\/h2>\n
Following the general market’s upward trend, Ethereum has left the bears with a beating, leading to a significant amount of short positions being liquidated. CoinGlass data shows that over $26 million worth of short positions were <\/span>liquidated<\/span> in the past 24 hours. The website also shows that the bulls have a slight advantage against the bears as sentiment flipped in their favor.\u00a0<\/span><\/p>\n
This isn\u2019t the only bullish signal for investors, as US equities have been experiencing a bounce as well despite the <\/span>recent<\/span><\/a> interest rate hike introduced by the US Federal Reserve. This can be a sign that investors are willing to take on riskier assets, such as cryptocurrencies, as their appetite for risk grows.\u00a0<\/span><\/p>\n
However, certain metrics show a bearish trend that investors should take into consideration. Nansen.ai\u2019s recent <\/span>weekly research roundup<\/span><\/a> shows that addresses holding less than 100 ETH has dropped by 37% since 2022. Despite that, retail addresses with less than 1 ETH increased by nearly 20% year-to-date.\u00a0<\/span><\/p>\n
\n
It’s happening \ud83c\udf8a<\/p>\n
Shapella is scheduled on mainnet for epoch 194048, scheduled for 22:27:35 UTC on Apr. 12, 2023 \ud83d\udcc6<\/p>\n
Client releases compatible with the upgrade are listed in the announcement below \ud83d\udc47https:\/\/t.co\/I0hSv9lnjz<\/a><\/p>\n
\u2014 timbeiko.eth \u2600\ufe0f (@TimBeiko) March 28, 2023<\/a><\/p><\/blockquote>\n
Investors should take this as a sign that retail investor sentiment towards cryptocurrencies is recovering, despite the disastrous year that was 2022. Ethereum holders should also expect the altcoin to pump heavily as the <\/span>Shanghai upgrade<\/span><\/a> nears. Developers on the Ethereum blockchain have set the launch date at April 12th.\u00a0<\/span><\/p>\n
<\/p>\n
ETH total market cap currently at $220 billion on the daily chart at TradingView.com<\/a><\/pre>\n
Related Reading: Dogecoin Inches Closer To $0.08 After Burger King Tweets \u2018Need DOGE\u2019<\/a><\/div>\n
At Nearly $1,800 – Can Ethereum Push Towards $2,000?<\/strong><\/h2>\n
The current price movement of the altcoin is part of a bigger sideways market movement seen on the charts today. This is a sign that the bulls and bears are stuck in a deadlock. Investors should be cautious as this can be an indicator of a price drop to $1.7k.\u00a0<\/span><\/p>\n
However, if the market keeps its momentum upward, we can expect the altcoin to reach $2k in the next couple of months. Once flipped to support, $2k can be a stronger base for a higher upside as this is the support it enjoyed in June 2021 before the crypto market sustained a heavy beating in the ensuing months.<\/span><\/p>\n
-Featured image from Glamour Instagram<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The second biggest cryptocurrency, Ethereum, has been generating buzz in the past few days as the market rebounded. At the time of writing, the global cryptocurrency market is up 2%, according to CoinGecko\u2019s latest data. This has presented a bullish signal for investors, which is certainly the reason for Ethereum\u2019s recent price ascent. The latest market data shows ETH pumping nearly 3% since last week. Although its rise is slightly slower than that of Bitcoin, this is a positive sign for investors in the long run. Ethereum\u2019s upcoming Shanghai network upgrade is also expected to solidify the altcoin\u2019s position in investor portfolios. Source: Coingecko Short Positions Blasted As Bulls Charge Through Following the general market’s upward trend, Ethereum has left the bears with a beating, leading to a significant amount of short positions being liquidated. CoinGlass data shows that over $26 million worth of short positions were liquidated in the past 24 hours. The website also shows that the bulls have a slight advantage against the bears as sentiment flipped in their favor.\u00a0 This isn\u2019t the only bullish signal for investors, as US equities have been experiencing a bounce as well despite the recent interest rate hike introduced by the US Federal Reserve. This can be a sign that investors are willing to take on riskier assets, such as cryptocurrencies, as their appetite for risk grows.\u00a0 However, certain metrics show a bearish trend that investors should take into consideration. Nansen.ai\u2019s recent weekly research roundup shows that addresses holding less than 100 ETH has dropped by 37% since 2022. Despite that, retail addresses with less than 1 ETH increased by nearly 20% year-to-date.\u00a0 It’s happening \ud83c\udf8a Shapella is scheduled on mainnet for epoch 194048, scheduled for 22:27:35 UTC on Apr. 12, 2023 \ud83d\udcc6 Client releases compatible with the upgrade are listed in the announcement below \ud83d\udc47https:\/\/t.co\/I0hSv9lnjz \u2014 timbeiko.eth \u2600\ufe0f (@TimBeiko) March 28, 2023 Investors should take this as a sign that retail investor sentiment towards cryptocurrencies is recovering, despite the disastrous year that was 2022. Ethereum holders should also expect the altcoin to pump heavily as the Shanghai upgrade nears. Developers on the Ethereum blockchain have set the launch date at April 12th.\u00a0 ETH total market cap currently at $220 billion on the daily chart at TradingView.com Related Reading: Dogecoin Inches Closer To $0.08 After Burger King Tweets \u2018Need DOGE\u2019 At Nearly $1,800 – Can Ethereum Push Towards $2,000? The current price movement of the altcoin is part of a bigger sideways market movement seen on the charts today. This is a sign that the bulls and bears are stuck in a deadlock. Investors should be cautious as this can be an indicator of a price drop to $1.7k.\u00a0 However, if the market keeps its momentum upward, we can expect the altcoin to reach $2k in the next couple of months. Once flipped to support, $2k can be a stronger base for a higher upside as this is the support it enjoyed in June 2021 before the crypto market sustained a heavy beating in the ensuing months. -Featured image from Glamour Instagram<\/p>\n","protected":false},"author":557,"featured_media":524955,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1557,8323,1946,3505,87675],"class_list":["post-524945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cryptocurrencies","tag-eth","tag-ethereum","tag-price-analysis","tag-shanghai-upgrade"],"acf":[],"yoast_head":"\nEthereum Price Poised To Break $2,000 Ceiling In Coming Months<\/title>\n<meta name=\"description\" content=\"The second biggest cryptocurrency, Ethereum, has been generating buzz in the past few days as the market rebounded. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Poised To Breach $2,000 Ceiling In Coming Months – Here’s Why","url":"http:\/\/wncen.com\/news\/ethereum-poised-to-breach-2000-ceiling-in-coming-months-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-poised-to-breach-2000-ceiling-in-coming-months-heres-why\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/a-49.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/a-49.png?fit=969%2C707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cryptocurrencies","eth","ethereum","price analysis","shanghai upgrade"],"dateCreated":"2023-03-30T10:00:25Z","datePublished":"2023-03-30T10:00:25Z","dateModified":"2023-03-30T10:51:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Poised To Breach $2,000 Ceiling In Coming Months – Here’s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-poised-to-breach-2000-ceiling-in-coming-months-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-poised-to-breach-2000-ceiling-in-coming-months-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/a-49.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/a-49.png?fit=969%2C707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cryptocurrencies\",\"eth\",\"ethereum\",\"price analysis\",\"shanghai upgrade\"],\"dateCreated\":\"2023-03-30T10:00:25Z\",\"datePublished\":\"2023-03-30T10:00:25Z\",\"dateModified\":\"2023-03-30T10:51:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/a-49.png?fit=969%2C707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/524945"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=524945"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/524945\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/524955"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=524945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=524945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=524945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}