As the London Hard Fork went live, the Ethereum price kicked off with its rally and initiated an uptrend. The asset took a little time to jump from $2600 levels to current levels very close to $3000. However, the ETH price climbed nearly 3% and attempted very hard to cling to the milestone at $3000.
Currently, the price is trending within a rising wedge which usually results in a slight correction. Therefore at the press time, a minute red candle appeared restricting the price to surpass $3000. However, the bulls are also on their toes to push the price above these levels and continue with the uptrend further.
A popular analyst, Pentoshi says that the ETH price could witness yet another major dip, but not now, but next year. However, with the accelerated rally, Ethereum is all set to outperform Bitcoin.
The Ethereum price for the past fortnight has managed to record 16 green daily candles in 17 days. And hence the daily close above $2900 could ignite the rally above $3200. Yet the real battle between the bulls and the bears could begin when the assets surpass $3000. As many are expected to extract the profit and slash the price to some extent. Yet ETH price could recover within a very short time frame to head strongly towards its ATH.