If you’re obsessed with following ethereum price analysis lately, you’re certainly not alone. Even if you’re only following it casually, perhaps you’ve considering dipping your toe into the investment pond for this favorable cryptocurrency.
It’s certainly a good time to, because ethereum continues to go up exponentially in value. Recently, it went through a bit of a correction before regaining its momentum. Plus, it experienced the wrath of Coinbase temporarily crashing due to overwhelming trading demand.
Looking more carefully at ethereum pricing analysis, will this hot cryptocurrency stay bullish?
Is There a Bullish Trending Line?
According to Bitcoin News Service on June 18, all signs point to a bullish trend in the near future for ethereum. It’s expected to soon break $400 in value again, though also a possible retest at $390 before reaching the former price.
BNS opines it’s a good thing ethereum went through its recent correction since it helped form the bullish trend line mentioned above. This provided more confidence in investors to raise the price back up to beyond the $300 level last week.
Not long ago, it reached a high of $414 before its corrective fall to $256. Now we just have to wait and see if ethereum can stay above the $400 mark for the rest of the year.
Surging Higher Than the U.S. Dollar and Bitcoin
The fact that ethereum was seeing growth beyond our own U.S. dollar tells you how fast things are moving. You’re even seeing a lot of ethereum price analysis experts saying it could go to $420 very soon.
If so, we could see extended levels of more investor confidence in ethereum. In this case, it’s not out of the question to see it hit $500 before the end of the year.
With ethereum easily going above bitcoin in value, could we see it become a standard currency in another year or two?
The tea leaves are still open to interpretation. Nevertheless, the bullish zone is very real, and that’s a sign it could become our new U.S. dollar if we ever experience an economic crash down the road.