Ethereum price spikes to a 3-month high above $4,000

Ethereum price spikes to a 3-month high above $4,000


Ether (ETH) returned to $4,000 on Sept. 3 for the first time since May as a solid week of gains culminated in a major price milestone.

Against month-to-date gains of $600, the pair reclaimed the historic level it had lost in the dramatic trend reversal that rocked the cryptocurrency market roughly three months ago.

In so doing, Ether broke out of its three-month trading zone, with $4,025 just $350 away from all-time highs.

$ETH has completed its macro U-Shaped formation

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It is now trying to breakout from it#Crypto #Ethereum pic.twitter.com/tMQSIjZVb6

— Rekt Capital (@rektcapital) September 3, 2021

In terms of weekly performance, Ether took third place out of the top 10 cryptocurrencies by market capitalization, behind Solana’s SOL and Polkadot’s DOT tokens.

Bitcoin (BTC) also capitalized on fresh strength of its own, rallying to a critical resistance at $51,000.

How long can the good times last?

Ether’s successes have given bulls reason to rejoice, but the move has also produced some murmurs from critics.

Related: Is Ethereum’s rally signaling the next bull market

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