In the wake of Ethereum passing $3000, now at $3300, its new All-Time High, Bitbull Capital share their thoughts.
Ethereum Price Hits $3300
"Ethereum has outperformed BTC lately and has managed to post a new all-time-high after crossing the $3,000 mark. Even though ETH’s price is touching highs unseen before, we can assess its potential for appreciation by looking at the ETH/BTC pair, which is still trading well below its all-time-high over 0.15 BTC.
The most recent resistance level on the ETH/BTC pair was 0.05, which has now been broken, and we can expect ETH to trade as high as 0.07 before meeting any significant resistance.
Although there's room to grow, given that ETH’s USD price has gone up significantly in a short period of time, we are likely to see a retracement towards $3,000 before another move up. But keeping the ETH/BTC ATH in mind, we wouldn’t be surprised to see a $5,000 ETH soon."