Ethereum price action pushed higher over the weekend, setting a new 2023 high. The move is also an important sign that an uptrend is forming. Could $3,000 be Ether’s next stop?
Ethereum Sets New 2023 High, Continues to Rise
ETHUSD struggled to catch up with Bitcoin’s unstoppable dominance for much of 2023, but that could soon change.
That’s because Ethereum finally joined the strong price action across crypto, making a new 2023 high.
The step is also a local higher elevation. A series of higher lows and higher highs is the pure definition of an uptrend. Ether also satisfies the rising low market structure.
Ether makes new 2023 high, breaks up out of ascending triangle | ETHUSD on TradingView.com
ETHUSD Ascending Triangle Target at $3,000 To $4,000
Leaving $2,000 after weeks of consolidating on top of it immediately puts $3,000 in play. Ethereum also broke upward from an 18-month long ascending triangle pattern, with a target of $4,000 per ETH.
If the top altcoin returns to such a level, it has a strong chance given the recent momentum in the crypto market, to reach new all-time highs.