$ 1,100 target for Ethereum price from experienced analyst
Sharing an assessment on the Ethereum network’s native token Ether (ETH) price, the analyst shared on the chart the possible market movements that he expects to occur in 2021. Medium term ETH has set its Price target at $ 1,100.
Michael van de Poppe, a full-time investor on the Amsterdam stock exchange, who shared the ETH price evaluation on Twitter on December 1, raised his Target to over $ 1,000.
Poppe said in his analysis that he expects a correction in early 2021 and believes the rise will catch up for most of the next year and reach the level of $ 1,100 by the end of the year. According to the analysis, the “parabolic rise” process was mentioned before and the $ 1000 scenario was mentioned again.
ETH price needs to see a correction to be $ 1,100
The analyst, also known as Crypto Michael in the Twitter world, expects the price of Ether to drop to $ 400 levels in the first place. The key to the analyst expecting a correction of over 30 percent in the ETH price is the strong resistance zone in 2017.
After reaching an all-time high in 2018, the price of Ether remained in the $ 300 to $ 400 range before the Astronomical uptrend. Poppe thinks there might be a drop in this area followed by a clear uptrend.
Michael van de Poppe plotted the Mid-term high Ethereum price between $ 950 and $ 1,100.
3 data of Ethereum network says “price goes up”
There are said to be three main factors following the accelerated increase in Ethereum price. Analysts; They say that the high expectation for the Ethereum 2.0 update, the rapid upward signal over a wide period of time, and the daily fee usage data on the Ethereum network point to the continuation of the rise.
On the other hand, the first Stakers to support Ethereum 2.0 exceeded the total number of Ethereum nodes for the second time this year.