ETH Price Spikes By Nearly 6% To Set New ATH At $1950

The bullishness is still there in the digital currency market as many top cryptocurrencies are continuously making new record highs. The first-ranked crypto Bitcoin (BTC) and the second-largest digital asset, Ether (ETH), are on the top of the list. On every new day, we see a major move from these world’s top two digital assets. After Bitcoin set its new all-time high above $52k, Ethereum’s ETH has followed the leading digital currency and has made a new record too. This time the coin came closer to the $2k figure.

New All-Time High For Ethereum: Price Nears $2000

The second-biggest blockchain network Ethereum’s native cryptocurrency Ether, has hit another record value by slicing through the figure of $1900. ETH posted a price rally of nearly 6 percent within the duration of the past 24 hours and reached $1950, where it recorded its latest all-time high on the 19th of February.

Ethereum’s price has now entered the range of $2000, which means the next target for the coin to achieve is this psychological level. At the press time, ETH’s price value is changing hands to $1912 with a change rate of around 0.50 percent over the last day. It is now once again facing resistance at the $1950 level, where it made its all-time high value. It means that the short-term target of the coin is to break this crucial resistance level. Once it is broken and the all-time high value is retested, the second-ranked cryptocurrency would easily be able to head towards the figure of $2000 in the near future.

This rally of Ethereum toward the $1950 price tag was largely driven by the recent bullish rally of Bitcoin (BTC), which is currently in progress. Due to this rally, the BTC price value topped above $52k to post a new peak value for the first time in the past twelve years.

Ethereum’s market capitalization has also skyrocketed high alongside its price value. It crossed the mark of $220 billion on February 19. As per data shared by CoinMarketCap, ETH’s market cap is currently holding at around $221 billion.

Author: MubaShar Nawaz
MubaShar Nawaz is an experienced writer working for TheForexPro.info. Having passion for writing, he covers news articles from the finance and trading world.

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