• Ethereum price has been gaining ahead of Wednesday’s Shanghai upgrade.
• Crypto trader and investor @CryptoTony anticipates the digital asset to rally towards between $2,100 and $2,200.
• Long traders can have a better chance to enter the market and book higher profits.

Ethereum Price on the Rise Ahead of Shanghai Upgrade

The Ethereum price has been revving up ahead of Wednesday’s Shanghai upgrade as the crypto market is preparing for high-impact news including the CPI. Trading around $1,855, Ethereum’s price has gained about 30 percent in the last four weeks but consolidated since March 14.

Ethereum Technical Analysis

From a technical standpoint, the Ethereum price on the daily time frame has rebounded on the upper edge of the rising channel that began earlier this year. The possibility of Ethereum retracting and hitting the lower edge of the rising channel offers bulls a solid chance of entering the market. Nevertheless, bulls could outperform bears in pushing Ethereum above its upper side of this rising channel.

Crypto Tony’s Macro Update

Veteran crypto trader and investor with over 283k Twitter followers, @CryptoTony believes altcoin season is about to kickstart in coming weeks while Bitcoin is in its last leg before a retrace below $26K. He expects Ethereum will rally towards between $2100-$2200 before having a pullback to around $1700 for long traders to take some profit on their positions.

Prediction for ETH Price

As per predictions from various analysts, it appears that ETH prices are expected to rise steadily over time as more people join in investing in cryptocurrencies and more businesses use them as payment methods through platforms such as blockchain technology or smart contracts. The enthusiasm from investors regarding ETH could only push its value higher throughout 2023 so far with more bullish spikes expected along with it too!


Overall, it looks like there’s an optimistic outlook for ETH prices going into 2023 given all these factors coupled with other trends seen across cryptocurrency markets worldwide! With increasing adoption among businesses and individuals alike within this space, investors should look into getting involved sooner rather than later if they want to benefit from potential benefits associated with increased demand within cryptocurrency markets!

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