ETH Hits $4,230, Breaking Past Major Resistance Levels With Ease, $8,000 Target Unlocked

Altcoin Ethereum hits $4,230 quickly after breaking past $4,000.

The asset is breaking past major resistance levels with ease

Analyst expects $8,000 ETH ATH as the asset breaks out of a symmetrical triangle pattern.

As Bitcoin Dominance dips to 59% and prepares to fall even lower, reputed analysts are pleased to see the price of ETH, the leading altcoin asset, respond favorably. To highlight, the price of ETH just hit $, breaking past major resistance levels with ease. Presently, ETH is already trading at $, and is rapidly heading towards claiming a new ATH price past its previous ATH set at the $4,800 price range

ETH Breaks Past Major Resistance Levels With Ease

According to CoinMarketCap analytics, the price of ETH is currently trading at the $4,230.75 price range, signaling that the asset is up by 8.37% over the last 24 hours. Presently, Ethereum is also boasting a total market cap of $510,392,150,987.11 and a 24-hour trading volume of $48,471,570,587.61. This marks that the asset is only under 15% away from reclaiming its previous ATH price set 4 years ago at $4,891.70

With these bullish pumps in play, analysts come together to figure out where the price of ETH will go next. To highlight, the price of ETH had just reclaimed the $3,900 price range just a few weeks ago and has been hinting at reclaiming the $4,000 target. Analysts believe that once this barrier would be broken past, the price of ETH would rally quickly to claim set targets at $4,200, $4,500, and eventually above $4,800 to $4,900

As we can see from the post above, this analyst did not see $3,900 or $4,000 as major resistance levels for ETH, but rather the $4,100 price range, as the main resistance level. He goes on to state that $4,000 as a physiological number, and if ETH were to break the $4100 price barrier, then a short squeeze would be triggered which would send ETH price to $4,400 and $4,500 price range in just a few hours.

Is this what ETH is playing out at the moment? The price of ETH broke past the $4,100 resistance level like it was nothing and reclaimed the $4,200 almost immediately after breaking past $4,000. Perhaps ETH price will pump higher and claim higher targets over the next few hours, perhaps it can even reclaim the $4,800 price range and set a new ATH at $4,900 and $5,000. All expectations are expected from reputed analysts

$8,000 Bull Target Price Unlocked

However, in terms of higher targets for the coming altseason and possibly the first bull cycle top based on current market dynamics, the expectation for the next ETH ATH price is $8,000. As we can see from the post above, this analyst says that Ethereum is finally breaking out from a massive symmetrical triangle, which has set ETH up to propel exponentially and hit the $8,000 price target range