Ethereum price finally crossed $3500 again, Where Will It Go next? – Early morning today, as the clock struck about 9:44 AM (UTC + 4), Ethereum proudly made its way over the $3500 mark. The 2nd-largest currency by market capitalization stands at $3510 at news time.
With a 10.40% growth this week, Ethereum seems to finally be getting the momentum it deserves. Many users are also concerned because while ETH continues to grow, BTC has fallen 2.34% this week.
Note that its price rise right now is reminiscent of its incline back in May, when it continued on this trajectory to achieve new ATHs of $4362. Though not as steep, the upward trend is now begging the question, where to next?
Crypto influencer Lark Davis also marveled over the price hike. He shared a tweet along with a TradingView chart:
The chart shows that Ethereum’s price trend today broke through the resistance level of $3300. Along with that, if we look at the Relative Strength Index for Ethereum right now, it’s visible that it’s still in a safe zone. To clarify, it’s neither overbought nor oversold. This means that an abrupt price reversal does not seem in the cards for Ethereum.
All in all, the market has some really mixed sentiments at this time. Users are celebrating ETH’s price rise, but at the same time are questioning what ETH’s decoupling from Bitcoin means. Many are of the view that this may be the start of a strong altcoin season.