Ethereum Celebrates Fifth Birthday with Record Market Prices

  • Ethereum had it’s 5th birthday a couple of days back and it’s nothing short of a roller coaster ride for one of the major players in the blockchain and crypto industry.
  • Ethereum celebrated the 5th anniversary by a strong rally, which started days before, pushing ethereum prices to spike from $236 to $312.
  • Crypto analyst Josh rager in his recent tweet predicted that if Ethereum breaks the $307 mark, then it is most likely to hit $400 market.

Ethereum (ETH) celebrated it’s 5th birthday a couple of days back and it’s nothing short of a roller coaster ride for one of the major players in the blockchain and crypto industry. From the time it came into existence with the Genesis block on July 30, 2015, Ethereum has managed to stand out as a clear market leader when it comes to the cryptocurrency industry. No wonder, Ethereum has witnessed major traction among investors and has managed to hold it’s position as the second-largest cryptocurrency in the market after Bitcoin.

Ethereum’s Birthday Rally

The world’s second-largest cryptocurrency all set to hit an even more significant milestone along with the launch of Ethereum 2.0. Ethereum Price has surged by almost 3.4% over the last 24 hours, ethereum is trading higher than it had been on the same date the year before.

Ethereum celebrated the 5th anniversary by a strong rally, which started days before, pushing ethereum prices to spike from $236 to $312. That’s when ethereum’s price rally started, and by August 1, 2020, Ethereum had gone up over $356.

Ethereum Chart
Source: Coingecko

In late July 2019, ethereum was trading at around $220 and has seen its value rise by more than $100 over the year. Twelve months later, Ethereum is trading at just above $345, having risen by more than 62% since the start of the year. If Ethereum remains around its current price of $350, or climb even higher, then it will surge past the most awaiting $400 mark and further.

Pointing to recent Ethereum price rally, Crypto analyst Josh rager in his recent tweet predicted that if Ethereum breaks the $307 mark, then it is most likely to hit $400 market. With the prediction, he also mentioned that the daily resistance of ethereum is at $286 at the time of the forecast, Now as it has successfully broken the $307 mark, investors are eagerly waiting for the explosion at $400 mark.

$ETH

Daily resistance around $286 and no close here means potential pullback, before the next test

But above that around $307 is the big test

Once $ETH breaks and closes above $307 – I don’t see long until it hits over $400 – at least on higher time frames pic.twitter.com/AukXcIypvh

— Josh Rager 📈 (@Josh_Rager) July 24, 2020

Ethereum Price Overview 

Although the price falls of black Thursday, ethereum has managed to maintain a period of relative stability in recent months, generally trading between $220 and $260 without any significant fluctuations.

ETH
Source: TradingView

Ethereum has started to build a key support level above the $306 level after surging by 10.83% over the week. With Ethereum currently trading at $356, it remains in a bullish posture. The sheer scale of ethereum’s appreciation was evident when observing the charts, with ETH having gained by almost 53% in a month. Ethereum, at press time, was trading at its highest price level in nearly a year. The daily RSI is around 86 points, and trading volume has been declining since July 28.

 

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