Ethereum managed to get past its previous all-time high, recorded in January of 2018 at the price of 1,365$. Ethereum had its run towards the new ATH on January 25th, 2021. The latest ATH is set at the value of 1,459$. As Ethereum is becoming more interesting to big-scale investors, analysts are predicting new ATH prices in the following months. Ethereum is also expecting the biggest network upgrade by far.
Ethereum (ETH) Records a New All-time High Price in January 2021
Ethereum seems to be experiencing the effects of positive sentiment, previously pulled by Bitcoin gains as the top crypto had also set up a new ATH at nearly 42,000$. The positive sentiment affecting the price of ETH might also be driven by the Beacon upgrade that took place in December as the first installment of the biggest Ethereum upgrade dubbed Ethereum 2.0. The next and the following update is sharding and should be launched to the network somewhere in 2021 when another similar bull run is predicted, driven by sentiment and a great investment opportunity as Ethereum will become faster with scaling when it comes to on-chain operations, which includes faster processing time for transactions. By far, Ethereum is showing major gains on the yearly chart, with recorded returns at 761%, out of which 123% of rises were recorded in the last 30 days.
Ethereum (ETH) Price Analysis: BUY or SELL Ethereum?
When it comes to short-term trading in 15-minute intervals to an hour, i.e. swing trading, Ethereum is a strong BUY according to Trading View. Out of 26 analysts speaking for Trading View, 19 recommend ETH as a STRONG BUY, and 7 are NEUTRAL. ETH is also voted as a BUY for 30 days, where 14 analysts consider ETH as a BUY, 2 are recommending SELL in the next 30 days and 6 are neutral.
Image credits: Cover photo taken from Nick Chong on Unsplash
