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Ethereum Price Today: Altcoin Nears $4000 Amid Bitcoin’s $100k Hype

Published by
Anjali Belgaumkar

Bitcoin has officially hit the historic $100,000 mark for the first time. Bulls are already targeting levels beyond $103k at the time of writing. As the focus has now shifted to Bitcoin, the second largest cryptocurrency–Ethereum is also showing strong bullish momentum. 

Ethereum Bulls Target $4,000: What’s Driving the Surge?

Right now, Ethereum is breaking out towards $4,000, and looking at the weekly Ethereum chart, the price is showing strong performance ahead. Ethereum is approaching a major resistance zone around $3.9K to $4K. If it breaks above these levels, the next target would be the previous all-time high, around $4.7K to $4.9K, just under $5,000.

On the 3-day chart, Ethereum is moving above $3.2K, which was resistance and is now acting as support. It also has support of around $3.5K. The next resistance zone to watch is between $3,850 and $4,000, which are the previous highs. On the daily chart, Ethereum is still breaking out above previous resistance, now acting as support. The altcoin has seen strong buying around $3,430 to $3,560, confirming the breakout.

There’s a potential bearish divergence forming, but it’s not confirmed yet since we haven’t seen a strong rejection in the (Relative Strength Index) RSI. For now, things are looking more bullish than bearish. For short-term gains, it’s crucial to watch the $3,750 level. A confirmed break above this could lead to a surge towards $4,600, and eventually, higher targets.

Ethereum’s Path to New All-Time Highs: Resistance Levels to Watch

Looking ahead, Ethereum is forming a cup-and-handle pattern, and some analysts predict prices could reach $7,400 or even $10,000. However, right now, Ethereum faces resistance at $4000 and we need to break and hold above that level to move higher.

Ethereum’s strong uptrend is supported by large institutional investments, with Ethereum ETF inflows recently surpassing Bitcoin’s. This trend hints at positive price action for Ethereum, and many believe it could reach new highs by the end of the year, possibly even breaking its all-time high.

FAQs

What is driving Ethereum’s price surge towards $4,000?

Ethereum’s strong bullish momentum is fueled by institutional investments, a breakout above resistance, and potential for new all-time highs.

What will the maximum price of ETH be by the end of 2024?

The price of ETH might surge to a maximum of $4962 by the end of 2024.

How high will the ETH price rise by the end of 2030?

According to our Ethereum price prediction. The largest altcoin’s price could propel to a maximum of $6,925 by the end of 2025. ETH is expected to cross the $15,575.21 mark by 2030.

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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