Ethereum reclaims $4.7k price range and prepares to reach its previous ATH price.
Analysts expects ETH price to claim next ATH targets at $5,200 and $6,400.
The price of ETH will likely go on to claim much higher ATH prices by the end of the year.
The price of Ethereum is slowly working its way up to reclaim its previous ATH price in the $4,800 price range. The pioneer altcoin asset Ethereum reclaims $4.7K price range with ease. Analysts expect ETH to hit new ATH targets at breakneck speed over the next few weeks, and one analyst expects ETH to hit two bull targets during this time at $5,200 and $6,400. How far will ETH go by the ned of this year?
Ethereum Reclaims $4.7K Price range
According to CoinMarketCap analytics, the price of ETH reclaimed the $4,700 price range over the last 24 hours, showing that the asset is currently trading at $4,740, indicating a pump of over 2.2%. The pioneer altcoin asset boasts a total market cap of $571,147,840,559.91 and a 24-hour trading volume of $61,197,852,422.62. The price of ETH is now only 2.68% away from its previous ATH price set 4 years ago at $4,891.70.
This slow and steady Ethereum price pump has left most of the crypto market waiting anxiously for the better part of this year. To highlight, Ethereum and altcoins were expected to begin their pump in Q1 of the year; this was a pattern that has always followed in every bull cycle, where Q1 of a year following a bull cycle would usher in that bull cycle’s altseason peak phase.
However, due to Bitcoin setting a new ATH this bull cycle before the Bitcoin Halving event, the pattern was slightly shifted, and this Q1 following the event led to a brutal correction phase instead. During this time, the price of Ethereum went on to bottom at $1,700, showcasing the crypto market settling into a healthy state. From then on, the price of ETH went on to claim higher highs.
Next ETH ATH Targets Set at $5,200 and $6,400
Over the last two quarters, the price of ETH went from $1,700 to $3,700, until a few days ago, the price of ETH finally broke past the $4,000 and $4,100 resistance levels. This move allowed ETH price to move in a rapid upward trajectory, bringing it to where it is now at $4,700, just a short pump away from its previous ATH price set 4 years ago in the $4,800 price range.
https://twitter.com/ali_charts/status/1955660367071527043
Since the bull cycle began, reputed analysts have shared multiple bullish signals on the ETH price chart, expecting the price of ETH to surge and hit incredibly higher ATH targets this bull cycle. This has led to high ATH expectations for ETH, with the price going as far as $16,000 by the end of December. For a closer ATH price target, the analyst in the post above states that $5,200 and $6,400 are where the price of ETH is heading next.
