Ethereum Price to Break Past the $2400 Mark Soon, How High Will $ETH Price Go?

After a remarkable climb of 8% from the previous day, the global cryptocurrency market cap closed at $1.52 trillion. Indeed, according to CoinMarketCap data, 96 of the top 100 cryptos have gained at least a percentage of their value since yesterday.

Ethereum, the world’s second-largest cryptocurrency by total market capitalization, has resumed its upward ascent after more than a month of severe bearish action. 

Ethereum Price broke above the first major barrier level at $2,090 to conclude the week at $2,190 levels after an extended rise.

ETH-Ethereum Price Analysis

ETH price surged 6.38 percent higher to burst beyond $2,300, breaking through psychological resistance at $2,200. It is presently trading at a price of $2319 per share. If it breaks out above $2,400, it is projected to continue its bull run in the coming days.

For Ethereum to break back through to $2,350 levels, though, it will need support from the rest of the market. Any upward would most certainly be capped by the first big resistance level and resistance at $2,400 unless there is a protracted crypto surge. Ethereum might test the second major barrier mark at $2,518 if it extends its breakthrough. 

If the price falls through the pivot at $2,038, the first major support level at $1,875 will be tested. 

The supply held by Ethereum’s top ten non-exchange whale addresses has reached a 5-year high, according to on-chain data. According to Santiment, an on-chain data supplier.

In the long run, the current trading pattern shows that the coin is on a bullish path. If price rallies continue to be as strong as they have been, Ether will surpass its all-time high.

Also Read: Is London Hardfork Delayed Again? How Well Will Ethereum Price Hold Up?

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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