Bitcoin had another amazing bull run, gaining 10,000$ within a week and reaching the value of 48,025$ as its latest record price. Bitcoin might have added some momentum to the otherwise positive trending of ETH. The second-largest crypto also made it to a new ATH price, reaching the value of 1,812$. However, both ETH and BTC retreated by some percentage with the latest price change. Can Ethereum break the resistance of 1,800$ once again and reach another record price as the crypto market is showcasing a bullish pace of growth?
Ethereum Makes Another Record, Gets Close to 1,800$
Ethereum is currently going through a daily rise of over 5%, trading at the price of 1,753$, however, the crypto is still down since reaching its all-time high of 1,812, two hours before the time of the writing. The support at 1,700$ is strong, so ETH shouldn’t go far from 1,700$ even in case of a dramatic change in trending. It is also possible for ETH to get back to the value of 1,800$ in an attempt to form new support levels at this price, which would grant ETH a strong momentum for a higher price and probably a new record. Ethereum is also being pushed by strong sentiment as the second stage to the biggest Ethereum update by far should take place in 2021. Overall, Ethereum has a chance to go over 2,000$ in the following period with the current sentiment.
Ethereum Price Analysis February 2021
- ETH is trading at the value of 1,753$ after the latest price change, dipping from an ATH of 1,812$, but still trading 5% up for the day
- The weekly chart is showing 27.5% of gains
- The lowest price for the week was 1,514$
- The highest price for the week was the recorded ATH on February 9th
- The yearly chart is showing 681% of gains
Image credits: Cover photo taken from Nick Chong on Unsplash
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