Analysts explained that the Ethereum price is likely to perform very well in 2021. Continuing to trade below $ 490, its highest level last year, ETH is likely to regain the value it lost nearly 30% next year.
The ETH price, which fell after the correction to Bitcoin and the slowdown in decentralized financial platforms, will experience a positive recovery in the long term, according to analysts. ETH, which recorded a record high last year, is currently trading at $ 359.
Ethereum Will Perform Very Well In 2021
Josh Olszewicz of Brave New Coin recently made some evaluations about the performance of Ethereum price in 2021. Olszewicz conducted an analysis using the Ichimoku Cloud (Ichimoku Cloud) in ETH technical analysis. The Ichimoku Cloud is one of the important indicators used to analyze the trend direction of a financial asset and determine potential support / resistance levels. In his analysis, Olszewicz showed that ETH’s Ichimoku Cloud indicator turned green for the first time since 2018.
Olszewicz said that the Ichimoku Cloud turning green is a positive signal for Ethereum. Stating that he believes ETH will perform very well in the second quarter of 2021, Olszewicz said:
“1W $ ETH. The Ichimoku Cloud is green for the first time since the end of 2018. This is a very good sign for the second quarter of 2021. ”
The Ichimoku Cloud is a useful and powerful indicator for predicting future trend changes of financial assets as well as providing an idea of the current trend.
ETH Price May Drop In The Short Term
Along with positive expectations for 2021, analysts expect ETH, which dropped to $ 300 in September, to show poor performance in the short term. Blockfyre’s head of technical analysis recently announced that he expects ETH price to drop in the short term and the outlook is bearish.
In addition to all these developments, the uncertainty created by US President Donald Trump’s economic stimulus package statements is among the main factors affecting both crypto money and traditional markets.