{"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 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 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 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>\nMiami Opts for Ethereum<\/h2>\n
Ethereum will Flip Bitcoin as a Store-of-Value<\/h2>\n
ETH\/BTC Price Analysis<\/h2>\n
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