{"id":516444,"date":"2023-01-17T18:13:54","date_gmt":"2023-01-17T23:13:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=516444"},"modified":"2024-06-11T08:11:24","modified_gmt":"2024-06-11T08:11:24","slug":"ethereum-breaches-1500","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-breaches-1500\/","title":{"rendered":"Ethereum Nears $1,600 Level – Is The $2K Mark Hittable This Week?"},"content":{"rendered":"

The improving sentiment in the crypto market certainly made recovering lost ground from the bear market easier. Ethereum, the top altcoin, has been breaking barriers since the start of the year. According to <\/span>CoinGecko<\/span><\/a>, the coin is trading at $1,588 and has gained 20% in the past week, with the biggest gains being recorded at the monthly time frame at 32%.\u00a0<\/span><\/p>\n

Ethereum recently generated buzz as news of the ecosystem\u2019s Shanghai network upgrade hit the market. According to the <\/span>Ethereum Foundation<\/span><\/a>, the network upgrade would add new features on the platform.\u00a0<\/span><\/p>\n

But with the coin regaining lost ground, can Ethereum bulls maintain the price and hit $2k?\u00a0<\/span><\/p>\n

Related Reading: Bitcoin 25% Climb Signals Recovery In Crypto Market \u2013 Will BTC Soar Higher This Week?<\/a><\/div>\n

Altcoin King Keeps The Throne<\/strong><\/h2>\n

Analysts<\/span><\/a> are still bullish on the short-term prospect of the altcoin. The Shanghai network upgrade is not the only thing that contributed to the bullishness present in the market. Vitalik Buterin, the founder and inventor of Ethereum, recently <\/span>shared<\/span><\/a> his vision of the ecosystem in the year 2032.\u00a0<\/span><\/p>\n

\n

$ETH<\/a> | $USDT<\/a><\/p>\n

A bullish pattern is forming once clear breakout above 1576$ levels.<\/p>\n

We can watch it play towards 1600$ for #ETH<\/a> \ud83e\udd1d pic.twitter.com\/VwI68eWyPg<\/a><\/p>\n

\u2014 LaCryptoLycus\ud83d\udc3a (@CryptoLycus) January 17, 2023<\/a><\/p><\/blockquote>\n

According to him, Ethereum\u2019s future would be the ability to run nodes on a phone. If this vision is turned into a reality, the ecosystem of Ethereum would become the most decentralized in the world of DeFi.<\/span><\/p>\n

This would also solidify Ethereum\u2019s position as a major player in DeFi. With <\/span>L2 blockchains<\/span><\/a> extending ETH\u2019s reach into the DeFi market, Ethereum\u2019s price is guaranteed to follow Bitcoin\u2019s rally.\u00a0<\/span><\/p>\n

Solid macros are also a contributor to ETH\u2019s current price movement. The recent release of the Consumer Price Index (CPI) in the US made the equity market <\/span>bump<\/span><\/a> in price collectively.\u00a0<\/span><\/p>\n

\"Ethereum
Title image: iStock<\/figcaption><\/figure>\n

Is $2k A Sketchy Goal?\u00a0<\/strong><\/h2>\n

At its current price, ETH momentarily regained lost ground when the market collapsed back in November. But it might be entering a correction phase as the bullish momentum slows down. Bitcoin seems to also follow this trend with the two being highly correlated with one another.\u00a0<\/span><\/p>\n

<\/p>\n

ETH total market cap at $194 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
Related Reading: Algorand TVL Hits $177 Million As Altcoin Rally Continues \u2013 Can ALGO Sustain This Push?<\/a><\/div>\n
Ethereum follows BTC\u2019s price<\/a> movement very closely. This means that if Bitcoin faces a correction period, Ethereum would inevitably follow suit. Investors and traders should watch the movement of the two assets as one movement from the other could mean gains and losses in the short and mid-term.\u00a0<\/span><\/p>\n
If ever the correction phase strengthens, the coin can find support at $1,580 and slowly hit its target of $2k. Meanwhile, if ever <\/span>the momentum of the coin slows down, investors and traders may focus on consolidating above its current price point to maintain a healthy price movement upwards.\u00a0<\/span><\/p>\n
Featured Image: Space.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The improving sentiment in the crypto market certainly made recovering lost ground from the bear market easier. Ethereum, the top altcoin, has been breaking barriers since the start of the year. According to CoinGecko, the coin is trading at $1,588 and has gained 20% in the past week, with the biggest gains being recorded at the monthly time frame at 32%.\u00a0 Ethereum recently generated buzz as news of the ecosystem\u2019s Shanghai network upgrade hit the market. According to the Ethereum Foundation, the network upgrade would add new features on the platform.\u00a0 But with the coin regaining lost ground, can Ethereum bulls maintain the price and hit $2k?\u00a0 Related Reading: Bitcoin 25% Climb Signals Recovery In Crypto Market \u2013 Will BTC Soar Higher This Week? Altcoin King Keeps The Throne Analysts are still bullish on the short-term prospect of the altcoin. The Shanghai network upgrade is not the only thing that contributed to the bullishness present in the market. Vitalik Buterin, the founder and inventor of Ethereum, recently shared his vision of the ecosystem in the year 2032.\u00a0 $ETH | $USDT A bullish pattern is forming once clear breakout above 1576$ levels. We can watch it play towards 1600$ for #ETH \ud83e\udd1d pic.twitter.com\/VwI68eWyPg \u2014 LaCryptoLycus\ud83d\udc3a (@CryptoLycus) January 17, 2023 According to him, Ethereum\u2019s future would be the ability to run nodes on a phone. If this vision is turned into a reality, the ecosystem of Ethereum would become the most decentralized in the world of DeFi. This would also solidify Ethereum\u2019s position as a major player in DeFi. With L2 blockchains extending ETH\u2019s reach into the DeFi market, Ethereum\u2019s price is guaranteed to follow Bitcoin\u2019s rally.\u00a0 Solid macros are also a contributor to ETH\u2019s current price movement. The recent release of the Consumer Price Index (CPI) in the US made the equity market bump in price collectively.\u00a0 Is $2k A Sketchy Goal?\u00a0 At its current price, ETH momentarily regained lost ground when the market collapsed back in November. But it might be entering a correction phase as the bullish momentum slows down. Bitcoin seems to also follow this trend with the two being highly correlated with one another.\u00a0 ETH total market cap at $194 billion on the daily chart | Chart: TradingView.com Related Reading: Algorand TVL Hits $177 Million As Altcoin Rally Continues \u2013 Can ALGO Sustain This Push? Ethereum follows BTC\u2019s price movement very closely. This means that if Bitcoin faces a correction period, Ethereum would inevitably follow suit. Investors and traders should watch the movement of the two assets as one movement from the other could mean gains and losses in the short and mid-term.\u00a0 If ever the correction phase strengthens, the coin can find support at $1,580 and slowly hit its target of $2k. Meanwhile, if ever the momentum of the coin slows down, investors and traders may focus on consolidating above its current price point to maintain a healthy price movement upwards.\u00a0 Featured Image: Space.com<\/p>\n","protected":false},"author":557,"featured_media":516449,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,8323,1946,3505,4398],"class_list":["post-516444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-eth","tag-ethereum","tag-price-analysis","tag-vitalik-buterin"],"acf":[],"yoast_head":"\nEthereum Nears $1,600 Level - Is The $2K Mark Hittable This Week?<\/title>\n<meta name=\"description\" content=\"The improving sentiment in the crypto market certainly made recovering lost ground from the bear market easier. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Nears $1,600 Level – Is The $2K Mark Hittable This Week?","url":"http:\/\/uniquehot.com\/news\/ethereum-breaches-1500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum-breaches-1500\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/a-49.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/a-49.png?fit=581%2C374"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","eth","ethereum","price analysis","vitalik buterin"],"dateCreated":"2023-01-17T23:13:54Z","datePublished":"2023-01-17T23:13:54Z","dateModified":"2024-06-11T08:11:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Nears $1,600 Level – Is The $2K Mark Hittable This Week?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-breaches-1500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-breaches-1500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/a-49.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/a-49.png?fit=581%2C374\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"eth\",\"ethereum\",\"price analysis\",\"vitalik buterin\"],\"dateCreated\":\"2023-01-17T23:13:54Z\",\"datePublished\":\"2023-01-17T23:13:54Z\",\"dateModified\":\"2024-06-11T08:11:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/a-49.png?fit=581%2C374","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/516444"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=516444"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/516444\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/516449"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=516444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=516444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=516444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}