The bulls still have the crypto market firmly in their hands by the middle of the week and all of the top 5 coins are again in positive territory this Wednesday. A special party is rising at Ethereum after the price mastered the breakout yesterday Tuesday. This is how the Monster Rally continues.
THE SHAREHOLDER had pointed out the special technical situation at Ethereum (ETH) several times in the past few days. Due to the consolidation in August, pressure was released from the boiler and the overheating that had previously built up could be neutralized.
Yesterday afternoon (CET), ETH continued its rally towards the all-time high as the price mastered the resistance at $ 3,333 with great momentum. Afterwards, as suspected, it quickly went beyond the next resistance at $ 3,444.
ETH daily chart in USD
Now ETH has already regained the psychologically important $ 3,500 mark – a strong sign. This means that the price is only around 24 percent away from the all-time high of $ 4,384. As the next milestone, investors are already targeting the next round mark at $ 4,000.
After the three-week break in August, ETH starts again at the turn of the month. The price gains of ten percent in just two trading days are evidence of the current strength of the trend, which is likely to drive the price further.
Note on conflict of interests:
The chairman of the board and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related derivatives that benefit from the price development that may result from the publication: Ethereum.