It looks like the last week of gains ended with an important milestone for the Ethereum
price. ETH broke through the psychological $4,000 barrier again for the first time since May. Sponsored Sponsored
The ETH/USD pair regained the historical level it lost during the May reversal. In doing so, Ethereum broke through to its highest price point in 3 months. Currently, the coin’s price is just $350 away from the all-time record high.
In terms of weekly performance, Ether ranked third out of the top 10 cryptocurrencies by market capitalization. Only Solana (SOL) and Polkadot (DOT) achieved better results.
The new momentum also benefited Bitcoin
(BTC), which managed to touch a key resistance level – $51,000.
How long can Ethereum’s good streak last?
Etherem’s success gave bulls reason to cheer. However, the move north has also prompted comments from critics. Why? Because the rising price all the time has a huge impact on transaction fees. Currently, for transactions
carried out in the network of Vitalika Buterina, we have to pay an average of 4.5 USD.
In general, however, the opinions of experts are convergent. Many of them believe that the last months of 2021 can resemble the end of the bull market of 2013 and 2017. Lark Davis summed up the situation on Twitter as follows:
Regardless of when exactly it comes the next few months will probably be insane beyond what most of you can imagine, but also one day during all that mania the music will stop.
So here are some tools we can use to spot the top.
Lark Davis (@TheCryptoLark) September 3, 2021
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