Ethereum Soars Past $2,700 as Analysts Predict New All-Time Highs

Ethereum (ETH) has rallied by double digits over the past week, surging to over $2,700. Analysts are optimistic that this revival could turn into a full-blown bull run, with some projecting a move to a new all-time high.

Wealthmanager believes ETH should reach $3,000 'relatively soon', citing little resistance between $2,750 and $3,000. Michael van de Poppe argued that Ethereum is entering an 'interesting zone', stressing that rising above its current levels could lead to a completely new phase.

Trader Tardigrade spotted an inverse head-and-shoulders setup on ETH's 3-day chart, assuming the asset is primed for a massive breakout, and projecting a rally to $4,100. Meanwhile, Gerla appears to be among the biggest optimists, maintaining that the cryptocurrency is still 'ridiculously early in this move' and forecasting a potential explosion to a new historical peak of $10,000.

However, not everyone is certain that Ethereum will keep pumping. DANNY claimed ETH is setting up for 'a huge trap' and envisioned potential capitulation to $1,500 and reaching a cycle bottom by the end of the year.