{"id":111932,"date":"2021-02-09T14:03:47","date_gmt":"2021-02-09T14:03:47","guid":{"rendered":"https:\/\/precoinnews.com\/?p=111932"},"modified":"2021-02-09T14:03:47","modified_gmt":"2021-02-09T14:03:47","slug":"ethereum-eth-could-hit-the-magical-2000-mark-report","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-could-hit-the-magical-2000-mark-report\/","title":{"rendered":"Ethereum (ETH) Could Hit the Magical $2,000 Mark &#8211; Report"},"content":{"rendered":"<p><strong>In brief:<\/strong><\/p>\n<ul>\n<li><strong>Ethereum has returned to bullish territory after the CME ETH Futures went live yesterday<\/strong><\/li>\n<li><strong>Ethereum&#8217;s bullishness is partly due to Tesla buying Bitcoin and the general crypto market excitement surrounding the event<\/strong><\/li>\n<li><strong>Technical analysis also points to another push up by Ethereum towards $2k<\/strong><\/li>\n<\/ul>\n<p>Ethereum (ETH) CME futures contracts went live yesterday, February 8th. According to the team at Unfolded, a total of 388 contracts, valued at roughly $34 million were traded on the first day of trading the Ethereum derivatives products. The team at Unfolded shared this milestone via the following tweet.<\/p>\n<p>CME $ETH product saw 388 (~$34m) contracts traded on the first trading day. pic.twitter.com\/kYfRw6nOIP<\/p>\n<p>&mdash; unfolded. (@cryptounfolded) February 9, 2021<\/p>\n<\/p>\n<h2>Tesla Buying Bitcoin Flipped the Script Back to a Bullish Future for Ethereum<\/h2>\n<p>Prior to the launch of the CME Ethereum futures, traders and investors were &#8216;sitting on the fence&#8217; as to whether the launch will result in ETH entering into a bear cycle as Bitcoin did back in 2017 after its CME futures went live.<\/p>\n<p>However, Ethereum&#8217;s $1,480 support held well and the bullishness surrounding ETH was rejuvenated once Tesla announced that it had purchased $1.5 Billion in Bitcoin. The event took the crypto-verse by storm with Ethereum posting a new all-time high of $1,823 &#8211; Binance rate.<\/p>\n<h2>Ethereum Could Hit the Magical $2k Mark<\/h2>\n<p>It is with the current bullishness that the team at Upblock has done some macro analysis on Ethereum and concluded that the digital asset could be primed for $2k. The team shared this conclusion on Ethereum in a recent crypto market report that explained the following.<\/p>\n<blockquote>\n<p>ETH has been consistently making higher highs and pushing for new ATH levels to enter real parabolic price discovery. It has spent a lot of time in previous weeks fighting and consolidating at a certain key-level yet could secure a breakout.<\/p>\n<p>Looking at technical indicators such as the MKAST Algorithm, one can quickly identify a bullish condition due to extreme bullishness lately. The MKAST Index shows 13\/15 points, which leaves enough space for another impulsive move, which could hit the \u201cmagical\u201d $2000 mark.<\/p>\n<\/blockquote>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/ethereum-eth-could-hit-the-magical-2000-mark-report\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In brief: Ethereum has returned to bullish<\/p>\n","protected":false},"author":3,"featured_media":111931,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum (ETH) Could Hit the Magical $2,000 Mark - Report - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-could-hit-the-magical-2000-mark-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum (ETH) Could Hit the Magical $2,000 Mark - Report - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"In brief: Ethereum has returned to bullish\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-could-hit-the-magical-2000-mark-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-09T14:03:47+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/ccryptafotoEthereum-coins-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-could-hit-the-magical-2000-mark-report\/\",\"url\":\"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-could-hit-the-magical-2000-mark-report\/\",\"name\":\"Ethereum (ETH) Could Hit the Magical $2,000 Mark - Report - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-02-09T14:03:47+00:00\",\"dateModified\":\"2021-02-09T14:03:47+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-could-hit-the-magical-2000-mark-report\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-could-hit-the-magical-2000-mark-report\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/ethereum\/ethereum-eth-could-hit-the-magical-2000-mark-report\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ethereum\",\"item\":\"https:\/\/precoinnews.com\/category\/ethereum\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Ethereum (ETH) Could Hit the Magical $2,000 Mark &#8211; 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