Ethereum (ETH) Soars 15% Weekly and Now Enters an ‘Interesting Zone:’ Analyst

The second-largest cryptocurrency has rallied by double digits over the past week amid the broader market’s resurgence, surging to well above $2,700.

Most analysts are optimistic the revival could turn into a full-blown bull run, with some projecting a move to a new all-time high.

The Next Targets X user Wealthmanager believes ETH should reach $3,000 “relatively soon.” They claimed there is little resistance between $2,750 and $3,000, adding that “the next impulse up is just a matter of time.” Popular analyst Michael van de Poppe argued that Ethereum is entering an “interesting zone,” stressing that rising above its current levels could lead to a completely new phase.

“If this area breaks, the next area of resistance is likely $3,400, and that would mean that we’re back into a new range. I don’t think we’ll see anything sub $2,000 in the near future again,” he said.