What's Next For Ethereum Price; $2000 Or $1500?

The Ethereum price witnessed a sideways trend for the past two months and showcased the formation of a megaphone pattern in the daily time frame chart. During this consolidation, the coin price strictly bounced off two divergence trendlines reacting to a volatile phase of the market.

Timeline of Ethereum

Ethereum price has become the talk of the town as the crypto has managed to secure the highest levels since August 2022 and also indicating its preparedness to reach beyond $2000 in the coming days.

A well-known crypto analyst who successfully predicted Bitcoin's 2018 bottom is anticipating a significant rally for Ethereum ($ETH). As The Daily Hodl reported earlier today, the crypto analyst, operating under the pseudonym “Bluntz”, has informed his over 221K Twitter followers that Ethereum seems to be completing its correction and is poised for a significant surge.

In a landmark move for the world of cryptocurrency, the supply of Ethereum has been reduced by 66,000 ETH in 2023, according to the information shared by market intelligence platform IntoTheBlock published on March 18.

A popular crypto analyst known for calling the 2018 Bitcoin (BTC) bottom is predicting a massive rally for Ethereum (ETH). The pseudonymous analyst Smart Contracter tells his 221,400 Twitter followers that Ethereum appears to be at the end of a correction and ready to surge.

Chances that the hacker will return the entire loot of $197 million remain slim as no more outbound transactions — other than the 3,000 ETH — were recorded at the time of writing.

Microsoft is reportedly developing a built-in Ethereum crypto wallet for its Edge browser, enabling users to send and receive cryptocurrencies and NFTs without additional extensions. Currently, in a limited testing phase, the wallet is a non-custodial solution, giving users complete control over their funds.

The parent company of Playboy, PLBY Group, has reported an impairment loss of $4.9 million on the Ethereum ($ETH) it held last year, which was received after it accepted the cryptocurrency as a payment method for a non-fungible token (NFT) collection.

Data from cryptocurrency analytics platform Santiment has revealed that so-called ‘Shark' addresses on the Ethereum blockchain have over the past year stockpiled over $6.2 billion worth of the second-largest digital currency by market capitalization. These addresses are defined as those holding between 10 and 10,000 ETH, or between $17,500 or $17.

The Ethereum price's ongoing recovery takes a halt at the $1720 resistance. This horizontal barrier aligned with the resistance trendline of the megaphone pattern indicates a high supply zone which could trigger a new correction for ETH.

Ethereum core developers have disclosed that the long-awaited Ethereum Shanghai upgrade also known as Shapella, has been scheduled for the 12th of April.  Coinbase details what ETH stakers should expect after the upgrade.