Saturday, April 10, 2021

Managing Partner of Moonrock Capital Says Ethereum (ETH) Is Poised To Hit $2500 Next Week

Simon Dedic, the managing partner of Moonrock Capital, has stated that Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has the potential to hit $2,500 next week.

On 13th March 2021, the price of the digital token ETH surged past the $1940 price area for the first time since 21st February. This significant surge has moved two prominent cryptocurrency analysts to predict that Ethereum (ETH) would break above $2,500 resistance in the short term.

Read Also: Ethereum Developer Shares How EIP-1559 and PoS Accrue Value to ETH

At the time of writing, ETH is trading at $1,931.60, with a 9.09% price upsurge in the last 24 hours. Additionally, the cryptocurrency has surged 159% in terms of year-to-date return on investment.

Simon Dedic Sees Ethereum (ETH) At $2,500 Next Week

A couple of hours ago, Simon Dedic, managing partner of Moonrock Capital, a blockchain advisory and investment partnership based in London and Hamburg, predicted that the Ethereum (ETH) will break above $2,500 next week and that altcoins will benefit greatly in the predicted significant price upsurge.

Read Also: Charles Hoskinson: Cardano Would Struggle to Compete Against Ethereum with Massive Gas Fees

Simon Dedic tweeted, “ETH will go to 2500 next week and is going to take all alts with it.”

Another prominent analyst, identified on Twitter as The Moon corroborated Simon Dedic’s prediction, stating that Ethereum (ETH) now targets $2,500.

The Moon tweeted, “Ethereum breaking the cup & handle, with a target of $2,500!!!”

The Wolf Of All Streets, a pseudonymous analyst on Twitter also showcased his bullishness in the leading digital currency. He stated that a possible benefit also awaits altcoin markets if the positive move persists:

Read Also: Messari: Ethereum Is On Pace To Settle $1.6 Trillion In Transactions For Q1. Are Users Exiting As Claimed?

“Ethereum is holding support on the BTC pair – a bit surprising on a move this meaningful for Bitcoin. Strong demand here, pierced the bottom. This could be an epic sign for alts if it continues to rise.”


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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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