As Bitcoin Dominance dips to 59% and prepares to fall even lower, reputed analysts are pleased to see the price of ETH, the leading altcoin asset, respond favorably. To highlight, the price of ETH just hit $4,000 breaking past major resistance levels with ease. Presently, ETH is already trading at $, and is rapidly heading towards claiming a new ATH price past its previous ATH set at the $4,800 price range.
ETH Breaks Past Major Resistance Levels With Ease
According to CoinMarketCap analytics, the price of ETH is currently trading at the $4,230.75 price range, signaling that the asset is up by 8.37% over the last 24 hours. Presently, Ethereum is also boasting a total market cap of $510,392,150,987.11 and a 24-hour trading volume of $48,471,570,587.61. This marks that the asset is only under 15% away from reclaiming its previous ATH price set 4 years ago at $4,891.70.
With these bullish pumps in play, analysts come together to figure out where the price of ETH will go next. To highlight, the price of ETH had just reclaimed the $3,900 price range just a few weeks ago and has been hinting at reclaiming the $4,000 target. Analysts believe that once this barrier would be broken past, the price of ETH would rally quickly to claim set targets at $4,200, $4,500, and eventually above $4,800 to $4,900.
As we can see from the post above, this analyst did not see $3,900 or $4,000 as major resistance levels for ETH, but rather the $4,100 price range, as the main resistance level. He goes on to state that $4,000 as a physiological number, and if ETH were to break the $4100 price barrier, then a short squeeze would be triggered which would send ETH price to $4,400 and $4,500 price range in just a few hours.
Is this what ETH is playing out at the moment? The price of ETH broke past the $4,100 resistance level like it was nothing and reclaimed the $4,200 almost immediately after breaking past $4,000. Perhaps ETH price will pump higher and claim higher targets over the next few hours, perhaps it can even reclaim the $4,800 price range and set a new ATH at $4,900 and $5,000. All expectations are expected from reputed analysts.
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