Breaking News
Get 40% Off 0
Is NVDA a 🟢 buy or 🔴 sell? Unlock Now

Ethereum's price surpasses $2,000 following Shapella upgrades

Published Sep 21, 2023 01:54AM ET Updated Sep 21, 2023 01:54AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
ETH/USD
+2.77%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BTC/USD
+1.04%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

The price of Ethereum (ETH) has surpassed the psychological threshold of $2,000, following the implementation of the Shanghai and Capella upgrades, collectively known as Shapella. The upgrades have allowed for ETH unstaking for the first time since its introduction in December 2020, according to reports on Wednesday.

In an attempt to predict future movements, some cryptocurrency traders are using BlockchainCenter's rainbow price chart for Ethereum. The chart currently suggests that Ethereum is in the 'Fire Sale' phase, which ranges between $0 and $2,320, with efforts being made to break upwards into the 'Undervalued' zone (blue), which stands between $2,320 and $3,282.

Historical movements suggest that Ethereum could potentially surpass $21,231 by August 2023 under the most bullish scenario. However, it's important to note that the crypto sector is highly volatile and can be influenced by a variety of external factors beyond chart patterns.

On Wednesday, Ethereum was trading at a low against Bitcoin (BTC) in the ongoing bear market. According to recent TradingView data, the ETH/BTC trading pair had dropped to a low of 0.059 BTC. This is a stark contrast from its peak of 0.088 BTC in December 2021.

Despite numerous instances when Ethereum came close to surpassing Bitcoin in market capitalization—a phenomenon known as "flippening"—the digital currency has not managed to achieve this milestone yet. During bullish phases, Ethereum has shown potential to catch up with Bitcoin due to its smart contract capabilities and the rise of decentralized finance (DeFi). However, in the current bear market, Ethereum appears to be losing ground once again.

CoinGecko's latest data shows a Bitcoin market cap of approximately $525.9 billion, with a price of $26,979. Meanwhile, Ethereum trails with a market cap of about $194.4 billion and a price of $1,617.48. In the last week, Bitcoin saw a moderate growth of 3.2%, whereas Ethereum showed a less impressive growth of 1.1%.

As things stand, Ethereum is currently changing hands at the price of $2,104.50, which demonstrates an increase of 0.56% on the day, adding up to the positive weekly change of 10.19% and an 18.94% gain in the last month.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Ethereum's price surpasses $2,000 following Shapella upgrades
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Andrew Patterson
Andrew Patterson Sep 21, 2023 5:17AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This article doesn't make sense. It forecasts a price rise for a date that has already past!!
Narasimha Govindaiah
Narasimha Govindaiah Sep 21, 2023 3:09AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I wonder what editor is doing. No proof reading. Too many inaccuracies are there in article. This is not news.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email