ETH Price Crosses $2,000 As Blackrock Teases An Ethereum ETF!

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Catching up to the market leader Bitcoin, Ethereum’s token ETH price jumps by 12% overnight as Blackrock ignites a new bull run. With the news of the asset management goliath, Blackrock planning for an Ethereum ETF.

As the overall market remains pumped up with the Bitcoin ETF news, the solidifying move by Blackrock for the ETH ETF pumps the altcoin market. With Ethereum and other linked altcoins skyrocketing overnight, buyers are aggressively entering the market. 

Ethereum Price Crosses The $2000 Mark

Riding on the hopium wave of Blackrock’s ETF, the ETH price shoots up by 12% overnight, making a huge bullish engulfing candle. Further, the Ethereum market value jumps beyond the psychological mark of $2000 and signals a new bull run. 

With a high-speed uptrend in action, the ETH price prediction reveals an extremely bullish trend in the upcoming months. 

Following the reversal from the $1538 mark, the ETH price trend shows a 38% hike in the last 28 days. Moreover, the recent 12% hike drives the Ethereum market value to $2131 and almost makes a bullish marubozu candle. 

With the bullish trend revival, the altcoin reaches the 2023 high and may shortly result in a new 52-week high. Further, the rise in the intraday trading volume supports the uptrend rally and reflect a strong underlying demand. 

Currently, the ETH price trades at $2127 with an intraday gain of 0.25%, reflecting a short-term pause for bulls. Further, the uptrend sustaining above the psychological mark of $2000 signals an uptrend for Ethereum.

Technical indicators:

MACD indicator: Regaining the gap between the MACD and signal lines, the momentum indicator shows a bullish trend in motion. 

EMA: The golden crossover in the 50D and 200D EMA in the Ethereum price chart certifies the trend reversal and signals an uptrend. 

Will ETH Price Cross The $2500 Mark?

Considering the uptrend sustains momentum, the ETH price trend shows enough potential to stretch the uptrend to the $2500 mark. Moreover, any positive news of ETF, regardless of Bitcoin or Ethereum, will positively impact the altcoin. Therefore, the likelihood of a high-speed uptrend in Ethereum is significantly high. 

Conversely, a reversal from under $2000 can retest the $1800 level.