{"id":35338,"date":"2021-04-07T10:10:00","date_gmt":"2021-04-07T08:10:00","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=35338"},"modified":"2021-04-07T10:10:00","modified_gmt":"2021-04-07T08:10:00","slug":"ethereum-price-adds-13-versus-btc-buyers-aiming-for-a-rally-back-to-q1-2021-highs","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/ethereum-price-adds-13-versus-btc-buyers-aiming-for-a-rally-back-to-q1-2021-highs\/","title":{"rendered":"Ethereum Price adds 13% versus BTC, Buyers Aiming for a Rally Back to Q1 2021 Highs"},"content":{"rendered":"

The Ethereum price<\/a> is solid above $2k <\/strong>with hints that bulls will sustain prices above this psychological level in the medium term.<\/p>\n

<\/p>\n

As of writing on Apr 7, the Ethereum price is up 13 percent week-to-date, adding an impressive 11X in the last year of trading.<\/p>\n

Buoying Ethereum bulls are an array of several fundamentals, including increasing adoption levels, development around NFTs and DeFi<\/a>, and migration to Eth2.<\/strong><\/p>\n

Miami Opts for Ethereum<\/h2>\n

For instance, in a recent podcast by the Block<\/em>, Francis Suarez\u2014the Mayor of Miami and a crypto advocate, has\u2014together with Vitalik Buterin, revealed their collaboration to explore and adopt the Ethereum chain for running city services.<\/p>\n

“We’re trying to come up with a project that goes through the foundation and directly with Ethereum that we can do with the city. We want the city directly involved in a way that demonstrates the applicability of the software so that we can continue to provide better services for our residents.”<\/p>\n

The Mayor explained that the city’s main priority is to adopt a decentralized information system, especially with looming security concerns like the Hurricane season that might disrupt service provision.<\/p>\n

Ethereum will Flip Bitcoin as a Store-of-Value<\/h2>\n

Meanwhile, the Ethereum price rose above $2.15k on Apr 6, posting a new all-time high. At the same time, the number of non-zero ETH addresses also grew to record levels above 56.7 million, data from GlassNode<\/em> reveals.<\/p>\n

In the battle for supremacy between Bitcoin and Ethereum, Anthony Scaramucci thinks ETH will eventually be the store-of-value once Eth2 is live.<\/p>\n

ETH\/BTC Price Analysis<\/h2>\n

\"ETHBTC<\/p>\n

The Ethereum price is up an impressive 13 percent against BTC in the past week of trading.<\/strong><\/p>\n

From candlestick arrangements, the ETH\/BTC price appears to be bottoming up. Notably, after weeks of lower lows, the ETH price recently broke above Mar 2021 highs. There has been a follow-through, but trading volumes are relatively low.<\/p>\n

However, this is the building block for a possible rally towards 4.6k Sats or Q1 2021 highs in a repricing that would place ETH bulls ahead of BTC. In the weekly chart, there is a clear high-volume double-bar bullish reversal pattern.<\/strong><\/p>\n

Accordingly, aggressive traders can load the dips now that momentum is building up in the daily chart. Bull bars are banding along the upper BB—suggesting demand in lower time frames.<\/p>\n

The first bull target is 46.2k\u2014Q1 2021 highs.<\/p>\n

Chart Courtesy of <\/em><\/strong>Trading View<\/em><\/strong><\/a><\/p>\n

Disclosure<\/em><\/strong>: Opinions Expressed Are Not Investment Advice. Do Your Research.<\/em><\/p>\n

\n

If you found this article interesting, here you can find more Ethereum News<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Ethereum price is solid above $2k with hints that bulls will sustain prices above this psychological level in the medium term.<\/p>\n","protected":false},"author":11,"featured_media":25935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74,87],"tags":[5294,4682],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/35338"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=35338"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/35338\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/25935"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=35338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=35338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=35338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}