- Did ETH just break through the $2,600 liquidity zone.
- If so, could $3,400 be the next target?
- The price of ETH is expected to outperform BTC.
The crypto community continues to debate the possible next action of the crypto bull market as the price of ETH failed to surge past $88,000. Meanwhile, the price of ETH seems to have only gone as high as the $2,700 price range. But does that mean that ETH broke past a crucial price range? Did ETH just break through the $2,600 liquidity zone? If so, could $3,400 be the next bull target for the price of ETH?
Did ETH Just Break Through the $2,600 Liquidity Zone
According to CoinMarketCap analytics, the price of ETH is currently trading at the $2,600 price range, confirming a short dip in price over the last 24-hours by about 1.79%. Within those previous hours, the price of ETH went on to trade as high as in the $2,700 price range. From there, the pioneer altcoin asset’s value was expected to surge to a much higher price but instead dipped slightly.
As we can see from the post above, this expert believes that the price of ETH just broke through the $2,600 liquidity zone. The level that most ETH traders and holders were watching closely and hoping for a reclamation. With ETH still holding just above that zone, expectations remain cautiously bullish. Now, with the reclamation seemingly complete, analysts are eyeing the next bull target at $3,400.
Thus, the expert goes on to say that if the breakout holds, and the actions of ETH continue to strengthen, then the next major liquidity sits around the $3,400 price range. One response to the post states that while the $2,600 zone reclamation is nice, the real bull signal will come only when ETH can build acceptance above it. If that happens, $3,400 becomes a much more interesting conversation.
If So, Could $3,400 Be the Next Target?
At the moment, high hopes cling to the ability of ETH being able to outperform itself to surge to higher prices. So far, many promising altcoin assets like NEAR, LINK, XLM, FET, and many others have been pumping steadily over the previous few weeks. This bullish action mirrored the bullish action of ETH and BTC, however, both assets need to reclaim much higher bull targets in order to lead to a full crypto market price surge.
For now, expert analysts are eyeing $88,000 and $3,400 price target reclamations for BTC and ETH, respectively. In contrast, in the case of the these pioneer assets dipping to lower prices, experts believe could go as low as $79,000 for now, leading to altcoin enthusiasts hoping for the price of ETH to go on to outperform BTC, thereby leading to the long-awaited altseason peak phase to finally play out.
