Ethereum to hit $2500 this week, co-founder of Moonrock Capital says
While Bitcoin broke its previous all-time high of $58,500 over the weekend, Ethereum is still struggling to retest $2,000. However, Simon Dedic, Co-founder and Managing Partner at Moonrock Capital, believes that things will change for the world’s second-largest cryptocurrency this week.
Dedic predicts that Ethereum will hit $2,500 this week. He made the statement on Twitter two days ago, at a time when intraday prices were around $1943. However, as of press time, the digital asset was trading at $1866.
$ETH will go to 2500 next week and is going to take all alts with it.
— Simon Dedic (@scoinaldo) March 13, 2021
Dedic is not the only one who is bullish on Ethereum. Crypto analyst and influencer Carl Martin also shared his positive sentiments on Twitter. In his case, he backed his claims with technical analysis.
#Ethereum breaking the cup & handle, with a target of $2,500!!! pic.twitter.com/gmnCdz6JxY
— The Moon 🌙 (@TheMoonCarl) March 13, 2021
Meanwhile, Scott Melker, another crypto analyst and trader at Texas West Capital, opined that things were looking very good for the digital asset, with strong demand from investors.
$ETH
— The Wolf Of All Streets (@scottmelker) March 13, 2021
Ethereum is holding support on the $BTC pair - a bit surprising on a move this meaningful for Bitcoin.
Strong demand here, pierced the bottom.
This could be an epic sign for alts if it continues to rise. pic.twitter.com/JEJOldEYhU
Amid the positive sentiments about Ethereum’s future price, developers are actively working to solve the network’s scalability and high gas-fee problems. With scalability just a few weeks away, the confidence of investors in the future of Ethereum would have been strengthened.