ethereum price action is rising over the weekend, setting a new high for 2023. The move is also an important sign that an uptrend is forming. Could $3,000 be the next stop for Ether?
ethereum sets new high for 2023, bullish trend in progress
ETHUSD has struggled to catch up to bitcoin's unstoppable dominance for most of 2023, but that could soon change.
This is because ethereum is finally joining the bullish price action across all cryptocurrencies, hitting a new high in 2023.
The move is also a higher local maximum. A series of higher lows and higher highs is the pure definition of an uptrend. Ether has also met the increasingly high market structure.
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Ether makes new 2023 high, breaks up out of ascending triangle | ETHUSD on TradingView.com
ETHUSD Ascending Triangle Targets Between $3,000 and $4,000
Leaving $2,000 behind after weeks of consolidation above immediately puts $3,000 in play. ethereum is also breaking out of an 18-month-long ascending triangle pattern, with a target of $4,000 per eth.
If the leading altcoin returns to those levels, it has a good chance, given the recent momentum in the cryptocurrency market, of reaching new all-time highs.
