The price of ETH is approaching 4000 dollars, but this metric indicates a rise like in 2020.
Ethereum is trading near 3900 dollars while re-testing the relative strength index for the trend line; analysts are watching for a breakout at 4100 dollars with targets of 8 thousand dollars and institutional purchases of 250 million dollars.
The recent price structure of Ethereum (ETH) shows comparisons to its cycle in 2020.
At the time of writing this report, the price of Ethereum was around 3900 US dollars, with a daily trading volume of 33.3 billion US dollars. The token has decreased by 4% over the past twenty-four hours and by 3% over the past week.
The price is below the previous high.
Ethereum is trading at a slightly lower level than its previous peak, a level that was last tested before the 2020 rise. According to Cryptosium, the structure today appears almost similar. In both periods, Ethereum stalled at a resistance level after months of consolidation, then surged strongly.
