As Ethereum is preparing for the second stage towards the biggest update by far, dubbed Ethereum 2.0, after releasing Beacon, the second-largest crypto is seen on the rise. The previous all-time high price recorded by Ethereum was 1,448$ in January 2018. Since the time ETH made it to its record price, the crypto started to dip far from the support of 1,000$. During 2019 and 2020, ETH wasn’t able to get past the resistance of 800$ and climb to the price target of 1,000$, however, the crypto is trading above 1,000$ for the first time since 2018 when it made an ATH.
Ethereum (ETH) Reaching 1,000$ for the First Time Since January 2018
Ethereum dev team is preparing for the biggest update the network had seen by far, expecting the completion of all three phases by the end of 2021. In 2020, the team released the first phase of the update, Beacon Chain, which went live in December 2020. Beacon Chain is the backbone of the anticipated update, however, for now, the network is not affected by the update and will continue operations as before the Beacon launch. As we are bracing ourselves for the next update anticipated somewhere during 2021, Ethereum is scoring a new high, reaching 1,000$ for the first time in the last two years and since January 2018 when the crypto recorded its ATH of 1,448$. Is it possible for Ethereum to get back to its ATH in 2021?
Can Ethereum Get Back to Its ATH in 2021?
Ethereum is one of the top gaining cryptos in the market considering that the second-largest crypto is recording nearly 800% returns year to year. With the latest change in the market trends, Ethereum is recording over 111% of gains in the last 30 days and 66% in the last seven days. With the latest price correction, ETH is trading at the value of 1,227%. Since ETH needs “only” 16.4% of rises to get back to its ATH, Ethereum is likely to revisit the price of 1,448$.
Image credits: Cover photo taken from Stanislaw Zarychta
