ETH/USD 1-hour candle chart (Bitstamp). Source: TradingviewEthereum doesn’t stop at $3,500
At the time of writing, the largest altcoin by market cap was in pure price discovery mode as it sought resistance above $3,500.
The week had already seen new highs for Ether price on a daily basis, with seven-day gains standing at 36%.
Among analysts and traders alike, the sense of excitement on the day was palpable.
Short-term price targets had called for $5,000 while zooming out, $10,000 and even $20,000 were not unheard of as Ether outperformed Bitcoin in dollar gains throughout the past year.
Cryptocurrency market cap dominance chart.