- The price of Ethereum has set a new high of $ 3,000.
- The record high comes after ETH crashed twice in the past month.
- Continuing this rally could push the smart contract symbol up to $ 4,295.
Ethereum hit a new high despite having faced several market crashes over the past two weeks.
The price of Ethereum sets a new high
Ethereum has grown 53% in the past month, hitting an all-time high of $ 3,000. The Payoneer Alternative Currency has generated huge returns of 313% since the start of 2021, while Bitcoin has stabilized at 100% so far.
ETH’s impressive performance in the face of adversity paved the way for alternative digital currencies.
If this upward momentum continues to flow, Ethereum’s price could rise by another 42% to 162%. Fibonacci Extension Level is $ 4,295. However, the newspaper table reveals that ETH has risen nearly 35% without a correction for about a week. Hence, investors should beware of this new high.
One day ETH / USD chart
However, if investors start taking profits around the $ 3,000 level, an 11% pullback is likely to retest the recent high of $ 2,645.
While unlikely, if these snowballs are selling pressure, the pullback could extend to $ 2,400, which is a 10% drop from the previous level.