The cryptographic analyst shared the modern brave Ethereum price forecastAnticipating that Altcoin number one is on the verge of an explosive rally up to USD 17,000. The analyst quoted past trends to support his stubborn projections, emphasizing that Ethereum Rallies significantly after a decline.

Ethereum price forecast is to be USD 17,000

According to kiu_coin, the Ethereum season has just begun, opening the possibilities of reversing prices and purchase possibilities. Lately Ethereum price trads sidewaysExperiencing huge declines that the analyst described as a “shock”.

His chart shows that Ethereum has recorded a unique shock pattern in recent years, followed by explosive movements up. In this context, Shakeout refers to a sudden drop in cryptocurrency price, which forces tender players on the market to sell their resources before The price turns and increases upwards.

Ethereum has experienced on his list of prices Final shock Around 2020 during the previous bull market. After this significant decline, there was a significant augment in prices in 2021, marking Novel ATHS for ETH. During this time, the cryptocurrency increased rapidly by 1,310.6%, registering one of the largest price increases.

The current price is around USD 2637, experiencing a shock similar to that in 2020. While other altcoins have gathered in the last few months, the price of Ethereum has He struggled with volatility and stagnation.

This bear trend or shakeout led to a significant sale of investors. If the story is a hint, Kiu_Coin believes that when Ethereum ends this stage of the inheritance and tender hands are removed from the market, cryptocurrency can experience stubborn breakthrough to modern ups.

ETH price analysis update

The TradingView expert provides for an augment in the price of $ 17,000. This would augment by 732% for Ethereum in the next 217 days, seven months from the moment of analysis. Support levels The chart also marked around USD 2173 and USD 2,069, representing price levels that may prevent further decrease in ETH.

As mentioned earlier, the price of Ethereum was on Massive inheritance trendWithout meeting market expectations, because its value is constantly falling below USD 3000. While others Altcoins have recorded annual increasesCoinmarketcap data show that the price of Ethereum has only increased by 5% from the beginning of the year.

Over the past month, cryptocurrency experienced 18.5% Price failure due to market variability and a sudden decrease in Bitcoin’s value. Although Eth tries to recover from bears, its 24-hour trading volume of $ 19 billion increased by 20.9%.

A distinguished picture from Adobe, chart from TradingView.com