Sa kriptocurrency tržište finally arising from its weeks-long slumber and already soaring past $1 trillion in market capitalization, it has given fuel to its major assets, including Ethereum (ETH), the price of which has risen above $1,500 for the first time since the post-Merge crash.
Observing its historical price action, Ethereum could break above $3,000 in 2023, at least according to the tweet and chart objavljeno by the pseudonymous crypto trader and LedgArt suosnivač Kaleo oktobra 27.
“ETH breaking above $3K again in early 2023 makes sense,” he stated.
Taking the chart into account, the decentralized finance (Defi) asset is demonstrating an upwards trendline, which indicates that the price is making higher swing highs and lower swing lows, resulting in a shift in a positive direction.
Indeed, $20 billion poured into Ethereum’s market cap in just 24 hours, with its price soaring preko 1,500 USD for the first time since September 15, when it suffered a blow following the network’s successful Spoji se nadograditi, finbold prijavili.
U isto vrijeme, v roba strateg u Bloomberg Intelligence Mike McGlone primećeno on October 26 that Ethereum’s shift to the Proof-of-Stake (PoS) protocol and its commanding position “at the epicenter of the digitalization of finansije and money may be a foundation for its price appreciation.”
Ethereum tehnička analiza
Meanwhile, ETH tehnička analiza (TA) indicators are looking very interesting. Specifically, the summary is giving off a ‘buy’ sentiment at 13. However, upon further breakdown, the oscilatori indicate selling at 4, whereas the pokretni prosek (MA) technicals point to a ‘strong buy’ at 12.
U vreme štampe, Ethereum was changing hands at $1,548, which represents a 0.93% gain on the day, but also a whopping 19.74% across the previous seven days, nearing the crypto community’s biće predictions for the price of Ethereum on October 31, made four weeks before.
Censorship fears
That said, not all is well in the Ethereum world as neki industry experts are concerned about the network’s resistance to censorship due to now more than 60% of Ethereum blocks being compliant with the sanctions imposed by the U.S. Office of Foreign Assets Control (OFAC).
As a reminder, OFAC sanctioned the popular Ethereum mixer Tornado Cash in August over its role in the navodno pranje of over $455 million in stolen crypto, in addition to blacklisting a number of ETH addresses associated with the protocol.
This has led to the increasing popularity of OFAC-compliant MEV-Boost relays that can censor certain transactions, which crypto intelligence platform Messari ranije pozvan “a credible threat to Ethereum’s neutrality and censorship resistance.”
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Source: https://finbold.com/ethereum-could-break-above-3000-in-2023-heres-what-technicals-suggest/