Ethereum price was queued for a gigantic correction which could have drained the price below $3000. But the fresh day trade kick-started with a bullish note but woefully followed a downtrend soon. However, the ETH price standing strong above $3000 manifest the huge bullish tendency of the asset to rally to its highs.
Ethereum Price To Knock Buy Zone
The ETH price ranged high breaking the barriers at $2900 and achieving $3000 after a pretty long gap of 3 months. However, since then, the price swings within a narrow trend failing to break $3400 & sustain above $3070. And hence with a continued trend to hit the support levels of the ascending channel, ETH could also trend within a ‘Buy Zone’ very soon.
The asset after visiting the support levels multiple times after it smashed $3000, bounced back effectively. And currently, the price could yet provide another opportunity for the traders to get in. As the current bounce could uplift the support levels above $3000, the upcoming uptrend could break the upper barriers too.
ETH Following BTC Price Rally
The Bitcoin price initiated its trade journey with a mere price of $10 or less and reached highs above $64,000. And hence, the Ethereum price is the second largest crypto is speculated to follow. If the ETH price follows the 2017-18 Bitcoin price rally, then it could possibly hit more than $10,000 in the coming 6 months.
Real Vision TV co-founder & a crypto proponent, Remi Tetot, marked the resemblance in both the rallies. And hence the founder believes the price could hit as high as $15,000 somewhere in March 2022.
However, the Ethereum price rally could even advance faster than that of Bitcoin and hence the next bottom could be even higher than $3000. On the contrary, the bear market could also be similar to BTC but a rebound for ETH price is imminent.