The Wider the Base, the Longer the Chase
Ethereum, the second most preferred crypto asset in the space, is on the verge to coil up to the higher levels. The asset followed an intensive uptrend since the early trading hours and more interestingly without any selling pressure. Hence intensifying the Etheruem price rally yet again.
The ETH price rally consolidated for months together before a strong push that propelled the price above the previous ATH. However, currently, the price seems to have redirected to the right path for a continued bull run. Moreover, the price may smash $6000 levels with the current strong momentum as per a popular analyst, $DOGE TO $1.
The price has currently broken the strong resistance levels at $1600 and hence initiated a run towards $1,700 to $1750. According to analyst Micheal van de Poppe, after the price smashes the levels above $1750, a possible correction is underway. Where-in the price may decline the price close to $1200 levels.
Also Read: Ethereum Price Coiling up, Is It a Better Investment Than Traditional Assets Like Gold?
More Projects on Ethereum Blockchain
Despite the heavy transaction fees in the past month, the platform has been the home for some of the promising projects. The on-chain analysis platform Santiment has released a list of top 10 projects in terms of developing activity on the Ethereum ecosystem.
The listicle has channeled its focus mainly on ERC 20 projects that are currently in the developing stage. It has used 30 days GitHub activity to track the development status. The decentralized prediction market platform Gnosis is on the top order of the list.
Overall, the ethereum ecosystem is poised to offered the most efficient and reliable platforms for its users and for the betterment of the crypto space. Therefore, amid the huge incoming developments, the Ethereum price rally is also expected to regain its lost positions at $2000 initially and to coil up to the next levels shortly.
Also Read: Ethereum Price Breaks the Channel, Will it Heal-Up or Drop Below $1K?
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