The second crypto by market cap has broken its all-time high of $ 2,041 set on February 19th.
According to CoinGecko data, Ethereum hit a new all-time value of $ 2,146 a few hours before the time of writing. At the time of writing, ETH is trading a little lower than their current ATH as it is experiencing a small price correction.
After the initial price spike took place, with ETH rising to its previous high, there was severe overloading of the sellers for a few days, causing Ether to test one of their lowest supports.
Crypto’s second largest asset was also between $ 1,700 and $ 1,900 before falling to $ 1,520 last week. As soon as ETH found support at USD 1,520, that price tag was used to support the campaign for a new ATH.
The evidence for the above claim is visible on the daily price chart as it is impossible not to see that Ether was at a green candlestick party for five days, resulting in the latest ATH.
The recent price hike over the past 24 hours has to do with a rally call from some dealers on Twitter. This conclusion is obvious given that ETH was trending on Twitter a few hours after the price hike where it hit its current ATH.
With the rise in gas fees, more fears fear the future of Ethereum as the rise in gas fees can lead to a decline in investors. If more traders lose interest in it, ETH may not reach $ 2,000 until the issue is resolved.
If the gas fee issue is resolved soon, traders can look forward to prices trading above $ 2,600 before the end of the month. With other factors, ETH could get a new ATH even if the gas fee isn’t fixed, but it can support their traders in April.
At the time of writing, Crypto’s second largest coin currently holds $ 241 billion as a market cap and doesn’t appear to give up second place once it is $ 190 billion above the BNB by market cap.
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