Bitcoin Hits ATH, Is Ethereum Next?

Whales Buying Bitcoin (BTC) and Ethereum (ETH) Dump, Is the Beginning of Bull Run

The post Bitcoin Hits ATH, Is Ethereum Next? appeared first on Coinpedia Fintech News

The market leader, Bitcoin, had successfully achieved a new ATH with a high of just over $70,000. However, the rally was short-lived as the market experienced significant short-selling in their respective portfolios.

Positively, the elite coins have successfully regained momentum over the past few hours, resulting in a bounce back in the chart. At the time of writing, the ETH token traded with a price tag of $3,906.57.

Ethereum Token On A Path To Record New High!

The cryptocurrency industry continues to display massive price fluctuation with top tokens experiencing significant pumps and dumps to their valuation. With the BTC price experiencing a new ATH, the volatility in the market has leveled up.

The Ethereum token has recorded a jump of 2.14% within the past 24 hours, indicating a bullish reversal in the crypto space. Further, the ETH price has added approximately 15.35% within the past seven days, and 63.34% over the past 30 days.

Ethereum Price Analysis
TradingView: ETH/USDT

Further, the star altcoin, Ethereum, is roughly 20% from achieving a new all-time high (ATH), highlighting an increased interest of investors in altcoins. Moreover, the market hints at a high possibility of an altseason which may act as a catalyst in the ETH price achieving a new ATH.

The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating a strong bullish influence in the crypto industry. Further, the averages show a rising pattern, suggesting a positive price action for the token in the upcoming weeks.

Will ETH Price Continue Rising?

The Ethereum token is currently testing its major resistance level of $3,930 soon, the outcome of which is unpredictable. If the Star altcoin manages to hold itself above the level, it will prepare to test its all-time high (ATH) of $4,881 in the coming time.

Conversely, in case a trend reversal occurs, the ETH price may lose momentum which may result in a delay in achieving its target of a new ATH.

Source: Bitcoin Hits ATH, Is Ethereum Next?
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