• Ethereum price has surged 54% since the start of 2023, with a 32% increase in the past few days taking it above $1800 for the first time in 9 months.
• A pullback to $1680 to $1725 is expected before ETH continues its bullish trend and sweeps beyond $2000.
• The upcoming Shanghai hard fork could provide additional strength for ETH bulls if a rebound occurs.
Ethereum Price Soars to New Highs
Ethereum price has been on an impressive rise since the beginning of 2023, surging over 54% and breaking into levels previously unseen since August 2022. In the past few days alone, ETH has risen by 32%, pushing its value beyond the $1800 mark for the first time in nine months.
Expected Retest Before Moving Beyond $2000
Crypto analyst Micheal van de Poppe predicts that after reaching these significant levels, Ethereum may undergo a retest at $1680 to $1725 before continuing its bullish trend and sweeping beyond $2000.
Shanghai Hard Fork Could Push ETH Higher
The upcoming Shanghai hard fork might also further strengthen Ethereum bulls who may trigger a rebound if prices dip too low. This could potentially help push ETH prices towards or even beyond their all-time highs of over $2000.
Bullish Outlook for Ethereum Price Overall
Overall, despite potential minor pullbacks, Ethereum appears to remain under mostly bullish influence and should continue rising towards new heights in the future.
Conclusion
Ethereum price has been on an impressive rise since early 2023, with analysts predicting that it may reach as high as $2000 before too long due to factors such as a potential retest between certain levels and increased strength from the upcoming Shanghai hard fork. Despite minor pullbacks along the way, Ethereum appears to be set on an overall bullish course towards new highs in 2023 and beyond.