After Bitcoin, Ethereum Prepares for a 30% Upswing, Aiming to Reach $5000 This Month

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Ethereum has been printing consecutive bullish candles ever since it picked up the race in the last few weeks of 2023. With this, the speculation of the token marking a new ATH is hovering within the crypto space which Bitcoin has accomplished. The token does not appear to stop at the moment as larger price action is soon expected to disrupt the crypto space, with the ETH price speculated to display acute strength in the coming days. 

Ever since the BTC price smashed a new ATH, all eyes have now turned to the second-largest token, ETH, as it usually follows the star crypto. Now that the crypto has visited $4000 once, the probability of revisiting the high becomes more imperative. Therefore, the ETH price is believed to keep surging by another 25% to reach beyond $4400 and later trigger a decent pullback. 

The ETH price has maintained a steep upswing and is believed to continue until the price reaches the initial threshold of $4,400 to $4,500. Here the bulls may face some loss of strength, which may drag the levels slightly lower. But as the trade progresses towards the end of the month, the bulls are expected to get back in action and propel the prices back towards the ATH at $4,891.  

Besides, the RSI and MACD have been stuck within the bullish range for quite a long time which could flash some bearish signals. However, the ETH price is believed to maintain a healthy upswing for a long time and mark new ATH very soon. Bitcoin is ranging but Ethereum is rallying to a large extent. 

The more the ETH price rallies, altcoins are believed to rally afterwards as money is expected to flow into them as long as Ethereum maintains a fine uptrend.