ETH, the second largest digital currency in terms of market capitalization, has been experiencing a lot of bullish trends and is starting to show some signs of strength. ETH also recently broke through the resistance level of $1,281, leading digital currency analyst AltcoinSherpa to believe that ETH has risen sharply.
On June 17, Altcoin Sherpa said on Twitter on June 17: "I think in the next few weeks, we will see the price of 1700 to 1900 US dollars. I think this is not a macro reversal, but Another rally in a bear market. The EMA is bullish on the 4-hour chart for the first time since late March."
According to CoinMarketCap, ETH is currently trading at $1,534.49 after a price increase of 74.14% over the past 24 hours. The potential upside for the altcoin is close to 40% if the price reaches what the altcoin Sherpa feels.
He also noted that the ETH/BTC currency broke its immediate resistance, which could be good for altcoins. A correct bullish trend for ETH/BTC could mean that the alt currency is likely to outperform BTC.
Last week, ETH gained about 40.64%. The 24-hour trading volume of altcoins has also increased by about 63%. It is currently 30, 613, 280, and 885 US dollars. ETH186, 803, 935, 671 dollars.
