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Ethereum (ETH) Could Reclaim $2,000, Trader Says

Wed, 02/01/2023 - 18:40
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Alex Dovbnya
Here's what it will take for Ethereum (ETH) to reclaim the $2,000 level
Ethereum (ETH) Could Reclaim $2,000, Trader Says
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David Keller, President of Sierra Alpha Research, took to social media to comment on Ethereum's performance in the market, expressing his bullish sentiment.

As noted by Keller, the second-largest cryptocurrency has undergone a substantial rally, surging by 60% from its June 2022 nadir amid a market-wide recovery.  

However, Keller believes that the true test for Ethereum will come when it finally breaks through resistance at $1,700.

If Ethereum can overcome this obstacle, Keller thinks that it has the capacity to reach new peaks, possibly soaring to $2,000 or higher.

The Shanghai upgrade  

Ethereum has been in rally mode ahead of the upcoming Shanghai upgrade, which is expected to be delivered in March. The much-antiicpated upgrade will make it possible to withdraw staked ETH tokens. 

Bitcoin's dominance on the rise  

Despite this uptick in the Ether price, Bitcoin, the biggest cryptocurrency, has been recovering its previously lost dominance in the crypto market.

Bitcoin now accounts for more than 42% of the entire crypto market capitalization, which currently stands at slightly above $1 trillion, according to data provided by CoinMarketCap.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at