Ethereum Gained 35% This Week, Beating Bitcoin’s Investment Potential
Ethereum is growing fast and outperforming Bitcoin, and it could soon reach $3,000 if its current momentum keeps up.
Quick overview
- Ethereum (ETH) has surged 35% over the past week, significantly outperforming Bitcoin (BTC), which only gained 2.48%.
- Despite a recent 1.55% decline in the last 24 hours, Ethereum shows signs of a bullish trend with a 1.72% increase in the last hour.
- Investors are optimistic about Ethereum reaching $3,000 soon, as it is currently only 17% away from that target.
- While Ethereum has a long way to go to reach its 2021 peak of $4,100, it is expected to continue outperforming Bitcoin in the near term.
Live ETH/USD Chart
Over the last week, Ethereum (ETH) climbed 35%, one of its biggest gains in a while, and it has outperformed Bitcoin (BTC) as a result, as that leading coin has only gained 2.48% in the last week.
Ethereum’s momentum has slowed, and the coin is now down 1.55% over the last 24 hours, leaving its value at $2,556 (ETH/USD). However, the coin looks to be gearing back up for a further bullish trend, as the last hour has seen a positive change of 1.72%.
ETH/USDBecause of that strong upward momentum, Ethereum has earned more for its investors this week than Bitcoin has for its. There is a case to be made that Ethereum is the better investment at the moment, though that may not be the case for a lot longer. However, Ethereum was climbing before the trade agreement between the United States and China was revealed, boosted by a smooth transition to its Pectra upgrade.
When Will Ethereum Reach $3,000?
Even the recently best performing coins like Trump and WIF cannot keep up with Ethereum’s strong performance. It is no wonder that investors are wondering how soon Ethereum will reach $3K. We last saw the token hit that mark at the beginning of February, before new tariffs drove the market down.
There has been enough strong momentum for the coin that it is reasonable to expect it will reach $3K very soon. ETH is only 17% away from that level now, meaning that its current momentum could carry it to $3K in just a few days.
The data for Ethereum shows that it is in a breakout position, poised to climb much higher over the short term. We expect that it will continue to outperform Bitcoin for a while, but do not expect it to perform at that extremely high level for a long time.
Ethereum has a long way to go to reach its 2021 peak of $4,100, but it is well on its way to establishing a higher support level and building from there. If the tariffs can stay out of its way for a while longer, we could see a new record for ETH by the end of the year, propelled there by a strong economy, falling inflation, and a couple Fed interest rate cuts.
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