Positive trend in Ethereum (ETH): What's the next target?

The Ethereum (ETH) price has made altcoin investors happy by showing a significant increase after weeks of consolidation. The crypto market gained upward momentum after the US elections, strengthening bull season signals. Ethereum, the flagship of altcoins, has risen above the $ 3,100 level for the first time in the last 14 weeks. This rise has attracted the attention of analysts, increasing the expectation that $ETH may test the $ 4,000 level in the short term.

ETH exceeded the $ 3,100 level, reaching its highest level in 14 weeks and greening the altcoin market. Leading Santiment data shows a significant increase in whale activity. In the recent period, transactions exceeding $ 1 million reached the level of 8,482, reaching the highest level since August 4.

Ethereum’s trading volume also reached an impressive level of $10.4 billion, the highest since August. This development increased confidence that $ETH can continue its rise.

Ethereum took the wind behind it with Bitcoin reaching ATH this week. ETH has increased by more than 28 percent in a week, leaving $3,150 behind. With the current bull trend, $ETH price can be expected to increase by 27 percent to $4,000. Weekly closes above $4,000 could start a new wave of rise towards ATH.

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