Ethereum (ETH) is currently trading at the value of 610$ with over 360% of gains for the year. Year-to-year gains already make ETH one of the top gaining cryptos in the last year, even though Ethereum is still trading -57% lower than its previous all-time high of over 1440$ per one ETH coin. At the present pace of growth and novelties around Ethereum 2.0, what is the most realistic price target for ETH in 2020 and 2021?
Price Target Analysis for Ethereum (ETH) 2020
With the last price correction, Ethereum entered a daily reversal trend by dropping by -1.1% in the last 24 hours. Other charts are showing progress and gains as the ETH price is on the rise on weekly, biweekly, and monthly charts. ETH is partially driven by the latest Bitcoin bull run as the top crypto reached new highs with a new all-time high of 23,000$. At the same time, BTC went over the value of 20,000$ for the first time in the history of the crypto market. That positive momentum is spreading across the market and other cryptos, such as ETH, are feeling the benefits. Moreover, Ethereum released Beacon in December, making the first official significant step towards realizing Ethereum 2.0, which also adds to the value of ETH. Ethereum could reach up to 800$ in 2020 per one ETH in case the positive momentum continues.
Price Target Analysis for Ethereum (ETH) 2021
As Ethereum poses as an epicenter of DeFi app development, having decentralized finance as one of the latest and most popular trends in financing and blockchain in general, ETH is gaining value as a currency. With increasing positive momentum, we could see Ethereum at new highs and even above 1,000$ in 2021. At the same time, Ethereum will present Sharding in 2021, making another important upgrade to the network towards Ethereum 2.0 completion.
Image credits: Cover photo taken from Nick Chong on Unsplash
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