Ethereum Hit a New ATH, It’s Next Target Is $3,000
Recently Ethereum hit a new all-time high, reaching $2,500. His line of support was above $2,400, from where he rushed up. The intraday chart clearly shows how the ascending triangle is forming. This means the trend is positive, and Ethereum is not going to stop its growth.
As any triangle, it has a visible breakout target that is measured from the lowest to the highest points of the figure. Ethereum will be able to reach $3,000 if its support line will be situated above $2,500. It will prove the investors that the positive trend is strong enough and the market is stable.
In addition, the bulls in this case will see that focusing on the asset’s growth makes sense instead of focusing on the triangle’s target only. But if Ethereum closes the day with a price lower than $2,500, bears may activate as well.