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Ethereum Price Breaks $3000, New ATH At $5000 Appears Imminent!

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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. 

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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. 

Also Read: Bitcoin Price To Hit $450K & Ethereum Price Aims At $17K, But When?

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.

Also Read: Ethereum Price Poised to Hit ATH Soon! Will ETH Price Break $3200 Level This Weekend?

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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