ETH Price in 2023 could be preping for a test of $2500 resistance and then $4000

ETH is showing strong resilience and dominance in the utility cryptos and now the demand has pushed in to shape a W or double button pattern. It could be targeting $10,000 but it should break the $2500 and $4,000 area first. The 10,000 range could be coming in 2024, but the closer upward targets are $2500 and $4,000.

There are a number of factors driving demand for ETHR. First, the Ethereum network is home to a number of popular decentralized applications (dApps), such as Uniswap, MakerDAO, and Compound. These dApps are used by millions of people around the world, and they require ETHR to function.

Second, ETHR is increasingly being used as a store of value. As more and more people become interested in cryptocurrencies, ETHR is becoming seen as a more stable and reliable investment than Bitcoin.

Third, PayPal’s recent announcement that it will be supporting ETHR payments is a major catalyst for the coin’s price. PayPal is one of the largest payment processors in the world, and its support for ETHR will make it much easier for people to buy and sell the coin.

All of these factors suggest that ETHR is in high demand and could explode in price in the near future. If PayPal’s support for ETHR is successful, it could be a major driver of the coin’s price growth.

Here are some specific reasons why ETHR could explode in price:

PayPal’s support for ETHR payments: As mentioned above, PayPal’s recent announcement that it will be supporting ETHR payments is a major catalyst for the coin’s price. PayPal is one of the largest payment processors in the world, and its support for ETHR will make it much easier for people to buy and sell the coin. This could lead to a surge in demand for ETHR, which could drive its price up.
The growth of decentralized finance (DeFi): DeFi is a rapidly growing sector of the cryptocurrency industry, and ETHR is the most popular blockchain for DeFi applications. As the DeFi sector continues to grow, so too will demand for ETHR. This is because ETHR is needed to power DeFi applications.
The rise of non-fungible tokens (NFTs): NFTs are a new type of digital asset that has exploded in popularity in recent months. ETHR is the most popular blockchain for NFTs, and as the NFT market continues to grow, so too will demand for ETHR. This is because ETHR is needed to buy and sell NFTs.

Mohsen Daemi
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