Ethereum (CCC:ETH-USD) is once again notching new records after an extended period of bearishness in cryptocurrencies that saw both ETH-USD and other peers fall back from early April highs. Ethereum is currently trading around $2,650.
Source: Shutterstock
The biggest support for ether right now comes from significantly lower GAS fees, which have dropped to a three-month low. That reduction in fees appears tied to a shift in the bots traders use to close transactions, and is not directly attributable to the GAS fee changes associated with the Berlin hard fork network update.
Eagle-eyed readers might note that two weeks ago, InvestorPlace reported on a similar decline in GAS fees likewise spurred by changes to the bots used for closing transactions prior to the Berlin hard fork two weeks ago.
More broadly, institutions and individuals alike are expressing their support for the cryptocurrency, whether it’s whales buying ETH-USD on the dip or the listing of Ethereum ETFs on Canadian exchanges.
Additionally, the European Investment Bank plans to sell 100 million euro in bonds on the Ethereum blockchain.
Ethereum (ETH) Price Predictions
With Ethereum presently trading just over $2,600, what will ether do next? Here are some Ethereum (ETH) price predictions:
- FXStreet says consolidation around $2,600 should help push Ethereum to $3,000. FXStreet also says $2,600 is the next major resistance level, with another band of resistance in the range of $3,200 to $3,600.
- Coin Gape likewise says that bullish trading above $2,600 should boost ETH-USD to $3,000.
- Last week, BuyUCoin CEO Shivam Thakral told Mint he believed Ethereum would break above $3,000 in April.
- Benzinga previously said $2,700 would be the next major resistance level for Ethereum, based on historical data.
- Coinpedia has an optimistic Ethereum (ETH) price prediction, saying the coin could see dramatic upswing in prices to reach $5,000 before the end of 2021. They go on to say Ethereum could reach $6,000 by the end of 2022 and $10,000 by the end of 2025.
- Wallet Investor has a one-year forecast of $3,592 and a five-year forecast of $8,271 for Ethereum.
- Trading Beasts predicts Ethereum will end the year around $2,300.
- Digital Coin Price has an Ethereum (ETH) price prediction of $3,696 by the end of 2021 and $7,989 by the end of 2025.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Article printed from InvestorPlace Media, https://investorplace.com/2021/04/ethereum-eth-price-predictions-where-does-eth-go-after-new-record-high/.
©2021 InvestorPlace Media, LLC