A new study directed by OKX has uncovered that a critical number of respondents in the crypto local area trust Ethereum (ETH) will arrive at another unsurpassed high of $5,000 toward the finish of 2023. The survey shows that 63% of the participants expressed their confidence in ETH’s potential to hit this target.
The survey also reveals that 83% of respondents expect that more ETH will be staked in the next 3 months. This indicates the growing interest in ETH and its potential for future growth.
According to a tweet by Wu Blockchain, a well-known crypto analyst and reporter, the survey results are a reflection of the community's positive sentiment towards ETH. The tweet further highlights the community's confidence in the coin's future growth prospects.
ETH's ongoing cost remains at $1,876.17, as per CoinMarketCap. The altcoin registered a 24-hour gain of 0.42%, contributing to its weekly price movement, which stands at +2.79%. Despite this, ETH failed to meet expectations contrasted with the market chief, Bitcoin (BTC), throughout the course of recent hours, recording a downfall of 0.18%.
ETH's price movement over the last month shows that it double-tapped the resistance level at $1,710, which eventually led to a breakout above the key level. The altcoin had the option to flip the opposition level into help on 17 Walk 2023.
The shorter 9-day EMA line crossed bullishly above the 20-day EMA line a few days before the breakout, providing ETH with the necessary support to break the latest key price level at $1,850. At present, ETH continues to trade above this level, indicating a bullish trend.
ETH's value appears to have arrived at its top at $1,942.98 this previous Wednesday and has since remembered down to the $1,850 mark. Failure to close today's trading session above this price level could result in ETH's price dropping to the next minor support level at $1,781 in the next 14-48 hours.
In conclusion, the recent survey results by OKX show that the crypto community has a positive outlook towards ETH's future growth potential, with many believing it could hit $5,000 by the end of 2023. However, similarly as with all cryptographic forms of money, the market is unpredictable, and ETH's value development could encounter variances temporarily.
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