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ETH Breaks the $2,000 Barrier: How High Can Ethereum Price Go?

Will Ethereum Rally Continues after the Shanghai Update? How high can Ethereum price go? Let's take a look at it in more detail.

Prasanna Peshkar

Prasanna Peshkar

April 14, 2023 4:43 AM

ETH Breaks the $2,000 Barrier: How High Can Ethereum Price Go?

In the previous 24 hours, the price of Ethereum temporarily surpassed the $2,000 barrier. The ETH token last reached this value in August 2022. The ETH price followed the Bitcoin track, which had gone beyond $30,000 for the first time in a long time two days before. Will Ethereum Rally Continues after the Shanghai Update? How high can Ethereum price go? Let’s take a look at it in more detail.

How has the Ethereum price moved in the last few days?

How High Can Ethereum Price Go: ETH/USD Weekly chart showing the price – GoCharting

The price of Ethereum has risen beyond $2,000 for the first time since late August. After only a minor gain in the previous several days, the ETH price has increased by about 10.48% in the last 24 hours.

The price followed the Bitcoin price, which surged more than 9% in the previous seven days and surpassed the critical $ 30,000 barrier. Ethereum has been unable to keep up with the recent price spike. However, the Ethereum rally has accelerated in the previous 24 hours. The recent gain is slightly smaller than the Bitcoin growth. 

How High Can Ethereum Price Go: Why may the price of Ethereum rise again?

Because of the significant Shanghai update, the ETH price was able to climb. The Shanghai upgrade, commonly known as Shapella, was implemented on the Ethereum mainnet last night. The seamless implementation may have contributed to the growth.

The ETH price has continued to rise in tandem with the Bitcoin price. This had grown earlier in the week from $28,000 to more than $30,000. Ethereum normally experiences price increases a little later than Bitcoin and, after a few days of very small gains, can follow with a larger price boost. 

How High Can Ethereum Price Go?

At the present, it appears that the Bitcoin price will continue to grow dramatically in the following days and weeks. Then it shouldn’t be long until the ETH price rises dramatically.

It may reach $3,000 in the second quarter of 2023. In our Ethereum prediction, we discussed potential price objectives. The market is now gaining steam, and a rise above $2,500 is probable in the next weeks. Here are five possible scenarios on how high can Ethereum price go after the Shanghai upgrade:

Conclusion

A possible scenario is that the market could experience a major correction, leading to a sharp decline in the price of Ethereum, potentially pushing its value down to $1,000 or lower. However, this scenario is less likely, as the upgrade is expected to improve the network’s fundamentals and increase its value proposition.

Prasanna Peshkar
Article By

Prasanna Peshkar

Prasanna Peshkar is a seasoned writer and analyst specializing in cryptocurrency and blockchain technology. With a focus on delivering insightful commentary and analysis, Prasanna serves as a writer and analyst at CryptoTicker, assisting readers in navigating the complexities of the cryptocurrency market.

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