Ethereum price spikes to a 3-month high above $4,000

Ether (ETH) returned to $4,000 on Sept. 3 for the primary time since Might as a strong week of good points culminated in a serious value milestone.

Towards month-to-date good points of $600, the pair reclaimed the historic stage it had misplaced within the dramatic development reversal that rocked the cryptocurrency market roughly three months in the past.

In so doing, Ether broke out of its three-month buying and selling zone, with $4,025 simply $350 away from all-time highs.

ETH/USD 1-day candle chart (Bitstamp). Supply: TradingView

When it comes to weekly efficiency, Ether took third place out of the highest 10 cryptocurrencies by market capitalization, behind Solana’s SOL and Polkadot’s DOT tokens.

Bitcoin (BTC) additionally capitalized on contemporary energy of its personal, rallying to a crucial resistance at $51,000.

How lengthy can the nice instances final?

Ether’s successes have given bulls purpose to rejoice, however the transfer has additionally produced some murmurs from critics.

With gasoline charges nonetheless inflicting frustration for merchants, there was a way of disparity as even actress Reese Witherspoon introduced that she had invested in Ether.

Broadly, nevertheless, opinions converged that the ultimate months of 2021 might mimick the frenzy to the end of 2013 and 2017.

“No matter when precisely it comes the following few months will most likely be insane past what most of you’ll be able to think about, but in addition at some point throughout all that mania the music will cease,” well-liked Twitter account Lark Davis summarized in a devoted thread on the present crypto bull market.

Associated: Is Ethereum’s rally signaling the following bull market section for Bitcoin above $50K?