Ethereum has surged over 20% to reach a new all time of $2,146.55.
Bullish indicators show that the top altcoin could soon reach $3,000.
Billionaire investor Mark Cuban recently revealed that he is bullish on ETH.
Ethereum achieved a new all-time high (ATH) of $2,146.55 earlier today. However, can the top altcoin sustain the bull run and reach $3,000?
The top altcoin has surged 23.6% over the past week, with a 5.4% gain in the last 24 hours. In fact, ETH price has been rising steadily in a cup and handle pattern. The pattern is a bullish indicator that means the crypto might still rise even more.
Analysts have been predicting that April will be altcoin season based on trends from previous years. In addition, ETH has enjoyed a lot of institutional interest recently. The latest price rally came amid Visa’s decision to start using the ETH network to settle crypto transactions.
Also, billionaire investor Mark Cuban also revealed that he is bullish on ETH in a recent episode of The Delphi Podcast. Cuban reported that his crypto portfolio breakdown currently consists of 60% bitcoin, 30% ETH and 10% other cryptos.
Besides revealing his crypto holdings, Cuban also admitted that although he owns a lot of ETH he wishes he had bought it sooner. Cuban even stated that ETH is “the closest we have to a true currency.”
Finally, ETH RSI level for the past week is sitting at 70.9 which shows the altcoin is about to enter into overbought territory. Thus despite the bullish indicators ETH could trigger a price reversal and the bears will take over. As such, we recommend that investors proceed with caution.
At the time of writing, ETH is trading at $2,117.31 with a $33,029,087,614 trading volume.
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