Looking at the long term charts, Ethereum is still under the influence of a two-year bear market. Ethereum (ETH) prices may rise to levels not seen since 2017 if they get rid of this effect and begin to collect themselves.
The crypto money markets started to recover in January, following the low levels in December. The total market value led by Bitcoin returned to $ 250 billion, and Ethereum again approached $ 20 billion.
Ethereum (ETH) Reviews
The continuing uptrend in the market with the approach of the Bitcoin block reward halving may open the door to good news for Ethereum.
Ethereum Gathers Power
Ethereum prices have reached $ 170 again today. Since the beginning of the year, ETH has reached its current level, rising 32% from the low levels of $ 128. Compared to Bitcoin, a 22% increase is observed in the same period.
Bitcoin is now 55% off its highest level. In Ethereum, this rate is still as high as 87% and still carries the traces of a two-year bear market. The chart below shows how weak ETH prices are and how glorious a big bull run can be.
Ethereum Analysis
The $ 800 and $ 400 levels played an important role in forming the support and resistance points in the latest major upswing. Therefore, if Bitcoin experiences a serious price increase at the end of this year, as analysts and many research firms expect, Ethereum will likely be pumped more.
Now analysts and traders are increasing their predictions that Ethereum will rise.
