Ethereum prices continue to rise, approaching a significant $5,000 mark. Investors remain optimistic about the current market dynamics.
Ethereum Price Record
Ethereum’s price surged to $4,937, nearing the psychological barrier of $5,000. While Bitcoin (BTC) remains relatively stable, ETH continues its upward trajectory, encouraging altcoin investors. Recently, TheoTrader noted that the ETHBTC chart shows “the biggest buy signal” he has seen.
On-Chain Metrics and Future Projections
In our morning assessment, we discussed that ETH’s on-chain metrics indicate further upward potential. Although its Total Value Locked (TVL) has not returned to its all-time high of $115 billion, the current trend suggests a noticeable rally. The ETHBTC pair targets 0.044, and surpassing this level could convince everyone that Ether is heading towards its true cycle peak.
Growth Prospects in the Altcoin Market
The upcoming hours promise to be eventful. Although Monday’s news flow is weak, ETF investors might continue to sustain ETH’s positive differentiation.
Ethereum's price continues to rise, and new achievements could change the current dynamics in the cryptocurrency market, drawing investors' attention to altcoins.
