Ether Prices Reached A Fresh All-Time High“”What’s Next?

Ether Prices Reached A Fresh All-Time High“”What’s Next?

Ether surpassed $1,600 today, climbing to a record level as the broader cryptocurrency market pushed higher.

The native token of the Ethereum network rose to as much as $1,651.27 this afternoon, according to CoinDesk data.

By reaching this level, the digital asset had gained more than 1,700% in under a year, increasing from less than $100 in March, additional CoinDesk figures reveal.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

After the cryptocurrency's impressive rally, several market observers weighed in on where it might go next.

"ETH/USD finally broke above the key psychological level of $1,400 and has been able to maintain its bullish momentum in the past 2 days,“ said Kiana Danial, CEO of Invest Diva.

"However, due to its volatile nature and the fact that institutional investors may start taking profit soon, we could see pullbacks again.“

Danial provided more specific information, stating that:

"The current all-time-high level is around $1,650. Based on Fibonacci retracement levels tracing the most recent uptrend that started at the end of December 2020, the key psychological support levels are at $1,400, $1,229, and $1,100 respectively.“

"The same length Fibonacci calculated the next resistance