{"id":555,"date":"2021-01-04T00:57:16","date_gmt":"2021-01-04T05:57:16","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=555"},"modified":"2021-01-04T01:01:40","modified_gmt":"2021-01-04T06:01:40","slug":"ethereum-price-is-up-13x-after-sinking-to-75-dollars","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/ethereum-price-is-up-13x-after-sinking-to-75-dollars","title":{"rendered":"Ethereum Price Is Up 13X After Sinking to $75: Will ETH\/USD Breeze Past $1.4k?"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1200\" height=\"675\" src=\"https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-analysis-for-january-4-1200x675.jpg\" alt=\"Ethereum Price Analysis For January 4\" class=\"wp-image-559\" title=\"\" srcset=\"https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-analysis-for-january-4-1200x675.jpg 1200w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-analysis-for-january-4-780x439.jpg 780w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-analysis-for-january-4-768x432.jpg 768w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-analysis-for-january-4-1536x864.jpg 1536w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-analysis-for-january-4-2048x1152.jpg 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption>Ethereum Price Analysis<\/figcaption><\/figure>\n\n\n\n<p>The Ethereum price is on a roll and is undoubtedly one of the top performers in the last week.<\/p>\n\n\n\n<p>At $1,020 as of writing (January 4), the <a href=\"https:\/\/www.hodlin.com\/coins\/ethereum\" class=\"rank-math-link\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">ETH price is up a massive 31 percent<\/a> on the last day of trading, stretching the USD by 47 percent in the past week of trading.<\/p>\n\n\n\n<p>Accompanying the march to the new 2021 high are swelling trading volume that has more than doubled on the last day as per coin trackers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Ethereum (ETH) Price Overview<\/h2>\n\n\n\n<p>The upsurge in ETH\/USD prices also means the coin&#8217;s market cap is now above $113 billion, rising by almost 50 percent in the last week of trading.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">$ETH<\/a>&#39;s market cap is now $100 billion.<\/p>&mdash; sassal.eth\/acc \ud83e\udd87\ud83d\udd0a (@sassal0x) <a href=\"https:\/\/twitter.com\/sassal0x\/status\/1345737436685484038?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">January 3, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>At the time of writing, it appears that ETH bulls are aiming for the $1.4k level. Over the weekend, the digital asset&#8217;s prices rose from around $700 on January 1 to over $800, to spot rates, adding an impressive $300 in 36 hours.<\/p>\n\n\n\n<p>Judging from participation level\u2014signaling the influx of capital from both sets of investors (retail and institutions), the path of least resistance is northwards in the immediate and medium-term.<\/p>\n\n\n\n<p>With prices easing past $800, the 2.168 percent Fibonacci extension level of Dec 2018 to June 2019 trade range, the next target is $1.1, the 3.168 percent Fibonacci extension level, and later, $1.4k, the coin&#8217;s all-time high.<\/p>\n\n\n\n<p>A contraction from spot levels could see the ETH\/USD price contract to Q2 2018 highs of around $800 (now support) before trend continuation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Ethereum (ETH) Market Movers<\/h2>\n\n\n\n<p>The uptrend is firm, and bull riders are said to be institutions.<\/p>\n\n\n\n<p>At the back of critical fundamentals in the next few weeks, the network will be refined to favor the platform&#8217;s wholesome growth of different facets.<\/p>\n\n\n\n<p>For now, EIP-1559 will introduce Gas predictability, taming Ethereum miners keen on raising Gas limits to their favor. Despite doubts about the network&#8217;s security, developers are confident this is the first chess move to keep Gas from spiraling out of control.<\/p>\n\n\n\n<p>After that, Rollups will follow, creating a multiplicative effect when merged with Sharding, which will be active in Eth2 Serenity.<\/p>\n\n\n\n<p>Combined, Ethereum developers will by several folds slash the cost of transacting in Ethereum helping the platform blossom not only by making DeFi cheaper, but gamers will flock to a scalable platform pumping ETH prices.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">DeFi is a snazzy term for Ethereum&#39;s financial ecosystem. See: <a href=\"https:\/\/t.co\/zVEuqdlmwW\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">pic.twitter.com\/zVEuqdlmwW<\/a><\/p>&mdash; HuntingIsland \u2014 \u039eTH \ud83d\udc2c\ud83d\udd0a\ud83d\udd34 (@IslandHunting) <a href=\"https:\/\/twitter.com\/IslandHunting\/status\/1345573679900585985?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">January 3, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Accordingly, investors are positioning themselves for price gains, with some even saying Ethereum will eclipse <a href=\"\/coins\/bitcoin\" class=\"rank-math-link\">Bitcoin<\/a> in the long-term.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">I am still willing to bet that Ethereum will significantly eclipse Bitcoin long-term. It&#39;s one of very few things that makes the Internet feel exciting again.<\/p>&mdash; Suhail (@Suhail) <a href=\"https:\/\/twitter.com\/Suhail\/status\/1345628331190849536?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">January 3, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>As of press time, the Ethereum price is now <a class=\"rank-math-link\" href=\"https:\/\/finance.yahoo.com\/quote\/GS\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">more valuable<\/a> than Goldman Sachs:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/twitter.com\/JohnTodaro1\/status\/1345459950366109702\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Ethereum Price Prediction<\/h2>\n\n\n\n<figure class=\"wp-block-image size-medium\"><img decoding=\"async\" width=\"780\" height=\"439\" src=\"https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-weekly-chart-for-jan-4-780x439.png\" alt=\"Ethereum Price Weekly Chart For Jan 4\" class=\"wp-image-556\" title=\"\" srcset=\"https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-weekly-chart-for-jan-4-780x439.png 780w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-weekly-chart-for-jan-4-1200x675.png 1200w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-weekly-chart-for-jan-4-768x432.png 768w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2021\/01\/ethereum-price-weekly-chart-for-jan-4.jpg 1366w\" sizes=\"(max-width: 780px) 100vw, 780px\" \/><figcaption>Ethereum Price Weekly Chart For Jan 4 via Trading View<\/figcaption><\/figure>\n\n\n\n<p>The Ethereum price is trading within a bullish breakout pattern.<\/p>\n\n\n\n<p>Marking bulls triumph over $800 was a surge in market cap, trading volume, and a conspicuous bull bar.<\/p>\n\n\n\n<p>At this pace, the ETH\/USD price has broken past two sell walls in quick succession within a quarter. During this time, the ETH price has nearly tripled, rising from $350 to over $1k.<\/p>\n\n\n\n<p>With a near perpendicular rise, every low above $800 may provide an opportunity for buyers aiming at $1.1k, the 3.168 percent Fibonacci extension level of Dec 2018 to June 2019 trade range.<\/p>\n\n\n\n<p>The $800 level is the immediate support and is Q2 2018 high, marking peaks before the slump to $74.<\/p>\n\n\n\n<p class=\"small\"><strong>Disclaimer:<\/strong> <em>Opinions expressed are not investment advice. Do your research<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ethereum price is on a roll and is undoubtedly one of the top performers in the last week. At $1,020 as of writing (January 4), the ETH price is up a massive 31 percent on the last day of trading, stretching the USD by 47 percent in the past&#8230; <a class=\"more-link\" href=\"https:\/\/www.hodlin.com\/blog\/ethereum-price-is-up-13x-after-sinking-to-75-dollars\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":559,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[6,51],"class_list":["post-555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-ethereum","tag-ethereum-price"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts\/555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/comments?post=555"}],"version-history":[{"count":2,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts\/555\/revisions"}],"predecessor-version":[{"id":563,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts\/555\/revisions\/563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/media\/559"}],"wp:attachment":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/media?parent=555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/categories?post=555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/tags?post=555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}