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BNB $418.84 (-0.0%)
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DOGE $0.24 (-2.9%)
BTC $48684.62 (1.63%)
ETH $3520.89 (-0.2%)
USDT $1.00 (-0.0%)
BCH $635.67 (-1.7%)
BSV $159.83 (-2.9%)
LTC $184.08 (-1.9%)
BNB $418.84 (-0.0%)
ADA $2.40 (-0.5%)
DOGE $0.24 (-2.9%)

Ethereum Breaks $3500 Again; Where Will It Go Now?

Ethereum Breaks $3500 Again
  • Ethereum has finally crossed $3500 again, with a price of $3510 at news time.
  • The crypto grew 10.40% this week, while Bitcoin has fallen by 2.4%.
  • Crypto influencer Lark Davis also tweeted regarding the news.

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.

Read also: Ethereum Price Prediction

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?

Much bullish, so wow!

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.

ethereum
Source: TradingView

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

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Lisa is excited about all things tech. She devotedly follows blockchain and crypto updates, sharing her passion through writing about it. She is a regular contributor for cryptocurrency news and articles.