Current market conditions are extremely choppy as profits incurred during the monthly close and inception are almost wiped out. As consolidations continue to thrive, the crypto space tends to become more uncertain. And thus, the price of ETH also seems to have missed the plot to some extent. The very fresh plunge started a couple of days ago is about to test the decisive phase in the next few days.
Multiple views have been recorded on Ethereum as of late, collectively showing the chances of the asset rising to $3000 shortly. Also, the chances of mirroring the previous rally to hit the ATH. One of the popular analysts pointed out the similarities between the current rally and the 2016 rally. And thus it hit highs somewhere around $8500 until the end of the year 2022.
Here, the analyst points out the price trend during the 2016 rally, in which the price of ETH was also quite choppy. After accumulating for years, the asset finally broke out of consolidation and ranged high to hit the ATH. Currently, the second largest crypto is undergoing a similar consolidation that sits at the foot of a growing mountain. One major difference, however, is that the trading volume has been greatly reduced compared to that of the 2016 bull run that saw a huge wave push.
This post Ethereum Price Consolidates Near $2800, But Noticeable Push Towards $3000 Is Imminent!
was published first on https://coinpedia.org/ethereum/ethereym-price-to-consolidates-near-2800-yet-may-range-towards-3000/