You can also find out more about Bitcoin Altcoins such as Bitcoin and Ethereum have surpassed $71,000 in value for the very first time. Ethereum The recovery has been re-launched in new waves since March 2024. During this bull market, ETH Prices reached new annual highs and fueled optimism about the future of crypto. Now the big question is, how high will Ethereum go in coming months?
Ethereum has now surpassed $4,000 for the very first time since two years, as shown by the analysis of its price charts. The 75% growth in trading volumes, to $22 Billion, supports the signal that upward momentum is strengthening.
In the 30 days since last week’s 15% gain, ETH gained 60%. Ethereum reached a milestone bullish that suggests a trend change.
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Can Ethereum Hit $5,000? next?
Some analysts believe that if Ethereum’s price can sustain around $4,000 in the next few weeks, the next The likely target for the upside could be $6,835 using the Fibonacci level of 1.618.
It would then be a good idea to represent this as the next The current bullish trend must be maintained to reach a major price level. Prices could consolidate before they move higher.
Ethereum’s all-time record high was $4,891 in November 2021. But the second biggest cryptocurrency is still only 18% off its previous highs.
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Ethereum’s price may fall if market conditions continue to deteriorate. The current indicators favor the bullish trend to continue through February.
Early technical indicators support the narrative that history is repeating itself in this cycle. If Bitcoin is able to maintain $71,000, ETH as well as other altcoins may stage a bullish view in the near future.
“This article is not financial advice.”
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Source: watcher.guru