After valuation of 600%, Ethereum price may break R$ 7,500 in 2021

Two analyses on altcoin suggest a break in the historical price record this year.

An analysis published about the price of Ethereum (ETH) in the market points out that cryptomoeda should exceed the value of R$ 7,5 thousand still in 2021. According to the video published by specialist Michaël van de Poppe on Youtube, this year altcoin should break the historical maximum in Brazilian Real.

However, before surpassing the amount of R$ 7,5 thousand on the market, the price of Ethereum (ETH) should suffer a correction. Poppe points out that soon cryptomeda may drop up to US$ 450, or even R$ 2,375.

Besides suggesting the rupture of the value of R$ 7,5 thousand, the ETH analysis bets that the cryptomoeda can be worth up to US$ 2 thousand in a scenario of great valuation, or, more than R$ 10 thousand. According to Michaël van de Poppe, the market will witness the historical high of Ethereum being broken on the first 2021 quarter.

Ethereum price at R$ 7,500

The Ethereum price record at the beginning of 2018 was almost US$ 1.4 thousand, and considering the U.S. dollar exchange rate, altcoin should surpass about R$ 7.5 thousand in current values to reach the historical record in reais.

For analyst Michaël van de Poppe, altcoin will have a valuation rally soon after facing a correction. With this wave of valorization, the analysis shows that the break of the historical value of ETH should happen between January and March 2021.

„Maybe in the first quarter of 2021 we will see a rally towards the high of all times“.

ETH Correction

The price of Ethereum rose more than 14% by the end of the afternoon this Monday (4) and accumulates an increase of 41.22% in the quotation in the last seven days on the market. With this increase, altcoin can suffer a correction, according to Poppe’s analysis.

Besides foreseeing an increase on the ETH price on the market, which can be worth more then US$ 2 thousand, the analyst makes an alert about the buying moment of altcoin, which can drop to US$ 450.

„Ethereum to more than US$ 2 thousand. If I say I’m waiting or wanting the ether to reach 450 dollars based on the chart, it doesn’t mean that you should buy“.

Valorization of 600%

In 2020, the price of Ethereum accumulated a higher valuation than Bitcoin Loophole review performance in the same period. In the case of altcoin, the increase throughout the year exceeded 600%.

ETH 2021 Price Chart (Preproduction/Market Bitcoin)

According to the Bitcoin Market Cryptography, the price of ETH has overcome two resistances recently, and can follow a valuation wave of up to US% 1.4 thousand.

„ETH was one of the few cryptocaps to appreciate more than BTC in 2020, over 600%. We recently overcame two resistors and are already reaching the possible top of the channel, but the next major resistance for ETH is certainly at its historic top around $1,400.“

In other words, just like Michaël van de Poppe’s analysis, Bitcoin Market analyst Thales Inada points to a historical price break for altcoin. Considering the dollar around US$ 5,20, this break in US$ 1.427 would correspond to US$ 7.250, according to Bitcoin Market.

„Trying to adapt the values in dollars, assuming the stable exchange rate at the current level of R$ 5,20, the historical top in dollars would be equivalent to R$ 7.250“.