Ethereum (ETH) Price Set to Hit ATH, Will the Bull Run Remain Intact?

Ethereum Price Inches closer to ATH as Bitcoin Price consolidates

Ethereum price experienced a roller coaster ride of a series of pumps and dumps in recent times. After a couple of rejections at the levels close to $1350, the ETH price appears to be determined to hit the ATH at $1432 anytime from now.

Also, the daily transactions on Ethereum are going parabolic and have attained $12 billion transactions per day. These levels match the levels during the Ethereum bull run of 2018. Hence it’s a very crucial phase for Ethereum as high TVL signals a huge demand in the space also the gas fees remain a concern for many. 

Also Read: Ethereum Price Analysis: Analyst Hints ETH Price Might Hit $5k in January

How High the ETH Bull Run Will Be?

The ETH price had a pretty good jump in the last 24 hours of about 10.3% to touch the levels at $1328.4 at the press time. 

In the past week, when the price hit the rock bottom levels below $1000, the bull geared up and the aggressive buying at the dips, recovered the losses to some extent. However, the bulls have not yet stopped and try to push the price above $1350 resistance levels.

Once the strong resistance levels are broken, the next target would be to smash the current ATH to form the new one. The current RSI levels in the overbought region and the remain bullish point out that still, the bulls are in a good position.

Conversely, if the bear’s start-up with their job, the price may also face a decline. As the traders who bought during the bounce of the 20-EMA, may extract the profits. Currently, the price is well above the 20-EMA and hence the ETH bull run may extend further. 

Therefore, the Ethereum price rally is expected to hit more highs in the coming days, but currently, breaking the resistance levels at $1350 is very crucial. The bulls are attempting very hard to keep control with themselves, but the bears might overpower them beyond certain levels.

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