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Ethereum has broken its all-time high, bagging an impressive over $3,523.00 USD as Bitcoin struggles to maintain strength in the market.
Alt season, a time where altcoins see investment intrigue and values and volumes rising, has officially commenced it seems, as Bitcoin’s dominance sits at a rocky 46%. Meanwhile, Ethereum’s price has been flourishing and Dogecoin has continued its walk in the limelight.
Ethereum to a record-breaking high
The excitement in the market abounds as the price of Ethereum surges consistently – now breaking a resistance level to tap above its all-time previous high trading value. As it stands, Ethereum leads the alt market with thrilling near 14% day-on-day trading gains. Looking at the past week, Ethereum is looking at a nearly 40% spike in value.
Experts and analysts in the field are excited about the possibility of the future of the token, suspecting it could continue to surge higher as the token leads the alt market. According to Scott Melker, Ethereum can still go much higher than its current price and trajectory.
I have been calling for $3600 $ETH for well over a month, but think it can go much higher. Here’s a video from early April.https://t.co/HHalVXk6IX
— The Wolf Of All Streets (@scottmelker) May 4, 2021
Bullish analysts are calling for $5,000 USD for short-term targets with hopes for the token to tag where Bitcoin was ranging last year around the $20,000 USD range.
Dogecoin enjoys its time and incline
Ethereum’s success is beneficial for the market overall and the same can be said for Dogecoin. This week, the meme-born cryptocurrency saw its own all-time high surpassing $0.50 USD for the first time to hit over $0.55 USD. Dogecoin doesn’t seem done with its incline either, looking to break past resistance barriers of $0.60 USD with tidy 38% daily increases.
Dogecoin’s main moment of success came in as Gemini announced support for the altcoin on its platform, offering users the ability to transact. Gemini co-founder Tyler Winklevoss offered insight into the rationale:
Dogecoin is the people’s money. It’s organic, irreverent, and fun. @Gemini now supports $DOGE. Deposits are open. Trading to follow shortly.https://t.co/sPLhi9wlry
— Tyler Winklevoss (@tyler) May 4, 2021