Since last November, Ethereum has embarked, virtually at the same time as Bitcoin’s mad rise, on an uptrend which, after various vicissitudes, has taken ETH to a new all-time high, above $4,300.
The fact that in so few months, the ETH crypto-currency has been able to rise from its low of $264 in July 2020, to over $4,000 in May 2021, is certainly a positive sign for its prospects, as it seems to suggest that bulls still have some underlying strength towards ETH.
Now, whether or not buyers are able to maintain this momentum may largely depend on the evolution of the next trend in bitcoin, which after going through a bearish phase, has shown in recent weeks that it has the strength to re-enter an uptrend.
Several analyses claim that Ethereum will trade in the $5,000 region over the next year, aiming for $5,500. Let’s find out a little more, and see whether ETH will indeed be able to break out in bullish terms in the medium term or not.
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Forecast for Ethereum 2021
Ethereum opened 2021 with a big sprint, taking it to more than double its price and over $4,000 per token. This growth has exceeded even the most optimistic forecasts and opens up new scenarios for the future, even in the short term, of this crypto-currency. Historic highs from which it then corrected, until returning to less than half the price, before triggering a new bullish cycle that brings the coin close to $4,000 once again.
The situation has had its ups and downs since the big correction, but the last two weeks have seen a resurgence in the popularity of bitcoin, and more generally of the large-cap crypto-currency sector as a whole. This is a sign, according to many specialists, that the bear market is now behind us, despite the fact that we’re in the summer season, traditionally not very positive for the crypto-currency world.
At the start of 2021, Ethereum was the strongest crypto-currency – among well-capitalized crypto-currencies – and any slowdown in value growth should not mislead us. Today, Ethereum is among the strongest in the crypto-currency space.
Ethereum remains the most viable alternative to BTC, at least in terms of investment, and this will be one of the drivers of the token’s value over the course of 2021. A 2021 that sees renewed forecasts, above $4,500 per token.
The passage of this historic peak has prompted all major industry analysts to revise their forecasts upwards. Even after the correction below $4,000, forecasts for this year remain very positive, pointing to a possible rise well beyond the all-time high reached in May. The partial correction, at least according to the experts, should not be an ongoing problem.
Ethereum forecasts for November 2021
After the big crash that hit Ethereum between May and June, the summer was very kind to Ethereum, which returned to a range between $3,400 and $3,700. This range was then abandoned after a further correction in the sector in September. October opened on a high note – both for $ETH and the rest of the market, with the crypto-currency hitting a new all-time high. November opens with high expectations.
As we’ll see with technical analysis, new bullish trends are expected, making a return to the highs possible. This strong uptrend can also be explained by the emergence of ETFs that own physical replicas of Ethereum and are enjoying great success on regulated markets. The implementation of the London upgrade could also improve the network’s prospects, as it has already reduced the fees that are currently blockchain’s main problem. All this while preparing the transition to Ethereum 2.0 at a rapid pace.
However, to get a fuller picture of what could happen to Ethereum between now and November 2021, we’ll need to add the results of technical and fundamental analysis, as always. We’re also trying to narrow down very short-term trends. After a run like this, it’s more than normal for corrections to be on the horizon, especially when they’re also driven by bitcoin.
