Can ETH break more than $ 2000 by Sunday? ETH price analysis

While the price of Bitcoin gets its previous gains, the broader encryption market is witnessing a fixed recovery, the ETH is still backward and tries to pay more than $ 2000 before the weekend.

The price of ETH, which was delivered from the top of $ 2,130 to a decrease of $ 1,788 – with a breeder by 16 % – earlier this week. Throughout the week, the side line was circulated while steadily managed to trade in the range of $ 1,800 to 1900 dollars.

Since the past few months, ETH has been one of the most common encryption assets that suffer from poor performance with it barely overcoming it at all while BTC, Sol and other leading encryption assets were breaking new levels. The recently changed market dynamics such as ETHEREUM loss as a large group of smart nodes and the appearance of cheap alternative platforms have left a significant impact on the ETH price.

At the time of this report, ETH is traded at a price of $ 1920 with the maximum market of $ 231.3 billion. It has still decreased by 10 % in the past seven days, while the total is 60 % of the rise at all-according to Coinmarketca Data.

Can ETH break $ 2000 before Sunday?

As the encryption market approaches the weekend, merchants and investors expect that ETH will recover more than $ 2000 before Sunday.

The encryption market tends to move slower when American stock markets are closed on Saturday and Sunday. At that time, most swinging traders who take their position on the market and speculate on more weekly price movements were found.

For ETH, merchants are now expecting that the opening of the two is likely to return with a stronger apostasy. The $ 2000 sign is now seen as an eTH standard as its price moves around this level before making any major moves.

The graph shows that ETH is currently with strong support near $ 1820, while it fell to $ 1750 earlier this week. In order to earn $ 2000, ETH needs a 10 % increase in prices.

Low gas fees may recently and upgrade the upcoming Bakra to return a lot of attention to ETH, but these plays are intended for a longer period. The rapid pump in the price of ETH can only occur if US President Donald Trump announced any major update regarding ETHEREM, just as he did by announcing a strategic encryption reserve and the inclusion of ETH in it.

Whether the ETH price is returned to 2000 dollars by Sunday, it has a great possibility to gain a long -term attraction, given that at the same time it passes through promotions and trying to match the demand in the market while the coding scene continues to grow.

Also read: Ethereum developer reveals Hoodi Testnet after Back Pacra