#AltcoinMomentum

 Ethereum price hits 6-month high of $3,700: Here’s why!

Ethereum price managed to perform independently of its big brother Bitcoin, as Ethereum continued its rise to levels not seen in months, surpassing the $3,700 level for the first time since June before falling back to its current levels at $3,600.

The recent rise in Ethereum price represents an increase of 18% over the past week, while Bitcoin fell by 2% during the same period, reflecting Ethereum’s movement independently of Bitcoin after months of stagnation.

Analysts see Ethereum as having strong momentum with expectations of further upside.

Rekt Capital analysts indicated that a weekly close above $3,650 could push Ethereum price towards new resistance levels at $4,000, and possibly as high as $4,500.