Popular crypto trader Michaël van de Poppe is updating his analysis on Ethereum (ETH) as the crypto asset hits a new all-time high of $4,428.
Van de Poppe tells his 459,000 Twitter followers that the second-largest crypto by market cap has flipped resistance into support and appears ready to begin a gradual push to a price tag of $5,000.
“Well done, ETH. Good S/R flip and probably ready for continuation towards $5,000.”
However, van de Poppe believes that Ethereum could correct before rising. His latest chart shows ETH consolidating before starting another rally around the new year.
In the wake of Ethereum’s new peak, closely followed crypto investor Inmortal says that anyone who bought ETH has profited, and those who collected it when the price was cheap are “on the right side of history.”
“I can’t help but remember two years ago when ETH was at $100 and everyone was saying it was going to fail.
I accumulated despite the fear, and you know what? It’s an honor to be on the right side of history.”
Ethereum’s all-time high comes on the heels of its latest mainnet upgrade, which sets the stage for the blockchain to merge into a proof-of-stake system.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/Tithi Luadthong