On Saturday (March 13), the Ethereum price went above the $1940 level for the first since February 21. Today’s surge prompted at least two crypto analysts to forecast that ETH would reach $2500 in the short term.
According to data by TradingView, around 21:16 UTC, on crypto exchange Bitstamp, the Ethereum price went reached its intraday high of $1943.22; today is the first time that ETH has traded above the $1940 level in the past three weeks.
Currently (as of 22:50 UTC on March 13), ETH is trading around $1911.74, which means that in the past 24-hour period the Ethereum price has gone up 8.50%; as for its year-to-date (YTD) return on investment (ROI), ETH-UD is up 159.21%.
Earlier today, Simon Dedic, who is Co-Founder and Managing Partner at Moonrock Capital, a blockchain advisory and investment partnership based in London and Hamburg”,made the following Ethereum price prediction:
$ETH will go to 2500 next week and is going to take all alts with it.
— Simon Dedic (@scoinaldo) March 13, 2021
— The Moon 🌙 (@TheMoonCarl) March 13, 2021
As for Scott Melker, a crypto analyst and trader at Texas West Capital, he said that according to his analysis of Ethereum charts, it looks like the demand for ETH is strong.
Ethereum is holding support on the $BTC pair – a bit surprising on a move this meaningful for Bitcoin.
Strong demand here, pierced the bottom.
This could be an epic sign for alts if it continues to rise. pic.twitter.com/JEJOldEYhU
— The Wolf Of All Streets (@scottmelker) March 13, 2021