$700: Analysts Expect Ethereum to See a Massive Surge as ETH 2.0 Rollout Nears

  • Ethereum has been closely tracking Bitcoin over the past few days and weeks
  • This has caused the cryptocurrency to see some turbulence as of late, with news regarding the OKEx founder being arrested sending BTC and ETH reeling lower
  • This decline was short-lived, and bulls were able to rapidly step up and begin absorbing this selling pressure
  • Analysts are now noting that upside could be imminent for the market, and ETH could see some serious outperformance in the mid-term
  • One analyst is pointing to ETH 2.0 as a bullish catalyst that could help spark an ascent up to $700

Ethereum and the entire altcoin market have been moving in sync with Bitcoin in recent weeks.

This has primarily contributed to the prolonged consolidation phase seen in recent times, and it is a strong possibility that ETH will struggle to gain any momentum independent of Bitcoin’s in the near-term.

That being said, one analyst is pointing towards the potential Phase 0 rollout of ETH 2.0 as a catalyst for upside – which could be starting within a week.

How To Get Free Crypto  

He notes that although ETH doesn’t look quite as technically bullish as Bitcoin at the moment, news surrounding the start of the ETH 2.0 rollout could open the gates for a move towards $700 in the near-term.

Ethereum Consolidates Alongside Bitcoin as Volume Ramps Up 

At the time of writing, Ethereum is trading down just over 2% at its current price of $369. This is around the price at which it has been trading throughout the past few days.

Although it has been sliding lower ever since it lost its footing above $380, its recent descent has come about in the form of a slow grind lower.

This has allowed Bitcoin to outperform it, and this trend may persist until trading volume surges higher.

Analyst: ETH 2.0 Phase 0 Rollout Could Spark Move to $700

While sharing his thoughts on Ethereum, one analyst noted that the imminent rollout of Phase 0 of ETH 2.0 could be just what it needs to rally higher.

Coinbase Banner  

He is setting his sights on a move to $700.

“ETH for those asking: $700 likely isn’t too far off. Eth 2.0 Phase 0 within a week could be one of many bullish catalysts although I just don’t think it looks as bullish as BTC. I refuse to not have it in my portfolio. It is the lifeline of alts, and has massive changes ahead.”

Image Courtesy of Pentoshi. Source: ETHUSD on TradingView.

The coming few days should provide insights into when the exact start of the Ethereum 2.0 Phase 0 rollout is and whether or not this will be a bullish catalyst.

Featured image from Unsplash.
Charts from TradingView.

Go to Source
Author: Cole Petersen

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.