- Ethereum (ETH) is showing strong bullish momentum and is poised to surpass key milestones.
- ETH has maintained its upward trajectory, consistently reaching higher price highs over the past month.
- Analysts suggest that Ethereum could face some resistance around the $4,400 to $4,500 zone.
While Bitcoin takes a breather from its epic run to fresh all-time highs, Ethereum looks ready to grab the baton and charge forward. Powered by unrelenting bullish momentum over the past several weeks, ETH seems poised to continue its assault on key milestones – with trader optimism eyeing a new record peak above $5,000 on the horizon.
Ever since Bitcoin cleared the coveted $50,000 mark in early March and rallied as high as $72,000, anticipation has been building for Ethereum to embark on a similarly spectacular run. After all, ETH has largely trended in BTC’s shadow over the years as crypto’s number two asset.
And in recent days, Ethereum has held up its end quite formidably. After testing $4,000 in the last 24 hours for the first time since mid-2022, profit taking has yet to infiltrate this latest ETH surge. Ethereum has consistently reached higher price highs over the past month, indicating that bulls have continued to buy any and all dips.
Where is Ethereum headed?
According to analysts, ETH remains well-positioned to continue on this trajectory before hitting some turbulence around the $4,400 to $4,500 zone. The RSI and MACD indicators also show plenty of room left in the tank to sustain the rally despite flashing overbought conditions.
Upon a successful breakout above $4,500, observers anticipate momentum really accelerating to challenge the long-standing all-time Ethereum price record around $4,891. And ETH could march even beyond the $5,000 threshold later this spring if bulls maintain control. Of course, bears still lurk to induce sharp pullbacks if weakness materializes. But for now, Ethereum is riding high and appears locked into challenging its former peaks as Bitcoin ranges.
So while the two preeminent cryptocurrencies often move in symphony, Ethereum may take the lead for a while as the crypto asset charge gains further mainstream endorsement. With its ambitious ETH 2.0 overhaul ahead, cementing leadership in blockchain innovation and scalability, the top altcoin seems ready to shine.
