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
— 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.
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.