- Pioneer altcoin ETH shows continued strength.
- Analysts expect to see new ATH price as ETH holds higher lows.
- Presently, ETH ATH targets are set between $5,000 and $5,200.
As the price of the pioneer altcoin asset, Ethereum (ETH), continues to struggle back up above the $4,200 price range, altcoin analysts grow increasingly eager to see the price of ETH have this breakthrough. Yesterday, the price of ETH pumped to $4,200 and clings to the $4,000 price range today following a short dip. Analysts are pleased to see that ETH shows continued strength and hope to see a new ATH soon.
ETH Shows Continued Strength
Since the $20 billion liquidation event earlier this month, the prices of all crypto assets fell by a significant amount, leading to harsh bearish sentiment and several bullish indicators getting busted. With nearly all leverage and long trades wiped out, FUD began to seep in. Analysts hoped that the market reset would finally allow altseason to arrive; instead, market prices have only declined.
This led to a tug-of-war between bullish and bearish expectations as analysts began to watch multiple altcoin charts to determine which move would be the safest. While some claimed that the bull cycle has ended and that the 4-year bull cycle timeline dictates the start of the bear cycle, meaning no altseason this time, others claim the bull cycle cannot end without an altseason and share bullish patterns.
So far, several altcoins have shown promising bullish signals by printing bullish patterns on their respective price charts. Several of these indicators mark the arrival of a monumental parabolic price run for altcoins soon. Despite the many bullish signs for altseason to kick off, analysts confirm that altseason cannot commence unless the pioneer altcoin, Ethereum (ETH), kicks off first.
Analysts Expect $5,200 ATH Price for ETH Soon
During this bull cycle, the price of ETH has only set one new ATH price, and that is in the $4,900 price range. This pump just barely beat its previous ATH set last bull cycle in the $4,800 price range. From there, analysts hoped the price of ETH would go on to surpass the $5,000 price area and truly explore its price discovery phase. Instead, the price of ETH fell below $4,000 and is currently barely holding on to the $4,000 price range.
As we can see from the post above, this reputed crypto analyst states that it is nice to see ETH show some continued strength again. Now, the analyst expects to see a steady sideways movement in the $4,000 price range and does not expect ETH to fall below it. Based on the responses to the post, the analyst and other similar trades expect the price of ETH to set a new ATH in the $5,000 and $5,200 price range.
