Ethereum Consolidating Around $3400, Analyst Says It’s Going to $10K by Mid 2022
This article provides an overview of Etheruem ($ETH) price action, news, and commentary by influencers, analysts, traders, and investors as of Sunday (September 12).
Latest Price Action
According to data by TradingView, on crypto exchange Bitstamp, currently (as of 10:10 UTC on September 12), Ethereum is trading around $3,423, which means that it is up 4.32% in the past 24-hour period.
As for Ethereum’s year-to-date (YTD) performance, ETH-USD is up 368.26%; the all-time high of $4,334 was set on May 12.
Analyst’s Price Targets for $ETH
Of course, it is very hard to predict short-term price movements for any asset, but on Friday (September 10), Simon Dedic, who is Co-Founder and Managing Partner at Moonrock Capital, a blockchain advisory and investment partnership based in London and Hamburg”, gave his medium-term price target for Ethereum. Dedic said that he believes the $ETH price will reach $10,000 by the middle of next year at the latest.
As for long-term price targets, as The Block reported last Tuesday (September 7), recently, analysts at Standard Chartered, “a British multinational banking and financial services company headquartered in London”, predicted that — due to the wide array array of use cases for Ethereum, which they think of as a kind of “financial market” — $ETH will be trading in the $26,000-$35,000 in the long term.
What Investors Are Saying About $ETH
Mike Alfred, Founder and CEO at BrightScope and at Digital Assets Data, explains why he plans to continue HODLing $ETH no matter what:
And another prominent investor told his over 92K Twitter followers that the best way for them to gain exposure to the rapid growth of Ethereum’s L2 scaling solutions is to invest directly in $ETH since their success helps the entire Ethereum ecosystem, thereby increasing demand for $ETH, which should help to drive its price higher.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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