The post Ethereum Price To Spike More Than 20% By October, Claims The Report appeared first on Coinpedia Fintech News
It was just yesterday that Ethereum, the second largest cryptocurrency by market cap, had slightly moved upwards as the currency was just a few figures below reclaiming $1,400 area.
However, the bulls failed to push the Ethereum price beyond $1,400 resistance as Ethereum started its downward trend right after hitting the high of $1,399. At the time of writing, Ethereum is selling at $1,323 with a fall of 4.41% over the last 24hrs. At present the immediate resistance lies at $1,330 and support near $1,320. If ETH continues its price action above $1,330 there is a high chance that the currency will reclaim $1,380 level.
While the Ethereum price struggles for bull run, the network experienced a drop in its new Ethereum addresses as the daily addresses saw a decline of nearly 50%. The same is explained by crypto analyst and expert, Ali Martinez via Twitter.
As explained in his tweet, the expert believes that whenever there is a drop in ETH addresses, there is an impact on Ethereum price as well pointing towards further price crunch.
Ethereum Price At $1,578 By October
On the flip side, the most active community, the CoinMarketCap community, is predicting that the lead altcoin, Ethereum, will hit a high of $1,578 by October 31, 2022. This price target had received a vote of nearly 2,244 on September 27, 2022
It’s just not that, there is an increased interest rate for Ethereum seen through Google search which surged by 16% from the past 2021.
Interestingly, as of September, 51% of Ethereum holders are in profit and only 46% are in loss.