Ethereum, the second-largest cryptocurrency, has made a new all-time high at $4700 as the market opens for the week. Being among the top gainers in the recent surge in the price of cryptocurrencies, Ethereum has gained more than 60% of its value since September. Ethereum gained over 10% in the last seven (7) days, according to data from Coinmarketcap.
The surge in the price of Ethereum has also increased its total market cap to $557B, according to data from Coinmarketcap.
$5000 is the next psychological price level for Ethereum, as more upward momentum is still on. Price is trading at $4730 at publishing time.
On the other hand, Bitcoin broke the $63,000 resistance level as the market opens for the week. The price of Bitcoin has been moving sideways for two weeks as buyers keep holding the $60,000 support level and the $63,000 resistance level holding as well. This has made it difficult for Bitcoin to have a clear direction since it made a new all-time high.
But things will change this week, as the price broke the $63,000 resistance level that has been hindering buyers' upward movement.
Bitcoin is trading at $65,118 at publishing time.
The recent all-time high at $67,000 is the area where price might likely get a strong reaction. Although, analysts are still predicting the price to get $100,000 before the end of the year.