Today, Ethereum saw another massive price rally, hitting another new all-time high for the second time in many weeks. Will ethereum hit $2,000 by the end of this week or even double up in the coming weeks at this rate? Who Knows?
Ethereum has indeed hit a new all-time high today; the new high watermark is $1,475. Ethereum has now closed 21days above $1,000, which is very bullish. Although we saw dips under a thousand dollars during those days, we did have wicks under, but they were bought up exceptionally quickly. Those dips lasted no more than a couple of hours when they did happen.
Ethereum is now entering price discovery mode, which is a fascinating time. The next significant level is $2,340 after the big round number at $2,000, which should be the level we should be watching.
The weekly close for Ethereum is looking very lovely as well. It is the highest weekly candle close for Ethereum ever. We may get a repeat of that next week for Ethereum. We're starting to get that kind of Bitcoin $20,000 vibes here with Ethereum right now, where we might see Ethereum pulling a Bitcoin and doubling within a few weeks after breaking its all-time high.
Of course, as we know, when Bitcoin broke over $20,000, it raged for four weeks straight before having any cool-down period. It looks like the same thing is about to happen to Ethereum, so this time next month, we could see Ethereum being worth $2,800, which would be double its current approximated all-time high.
