After Bitcoin, Ethereum is preparing for a 30% rise and is aiming to reach $5,000 this month.

Ethereum continues to go from strength to strength since it entered competition in the final weeks of 2023. This has led to speculations about a token denoting a new ATH hovering within the cryptocurrency space, achieved by Bitcoin. There appears to be no stopping for the token at the moment, as larger price action is expected to wreak havoc in the cryptocurrency space soon, and ETH price is speculated to see rapid strength in the coming days.

Since BTC price hit a new ATH, all eyes have turned to ETH, the second largest token that usually follows the star cryptocurrency. Now that the cryptocurrency has visited $4000 once, the odds of it revisiting the highs have become more significant. Therefore, it is believed that the price of ETH will continue to rise by 25%, surpassing $4400, and later trigger a significant decline.

ETH price has been on a steep upward trend and is believed to continue until the price reaches the initial threshold of $4,400-$4,500. Here the bull may face a slight loss of strength, which may result in his level being slightly lower. However, as trading progresses towards the end of the month, the bulls are expected to come into play again, pushing the price back to ATH$4,891.

Moreover, RSI and MACD have remained in bullish ranges for quite some time, which could lead to some bearish signals. However, ETH price has maintained a healthy upward trend for a long time and is expected to hit a new ATH soon. Bitcoin is widening its range, but Ethereum is rebounding significantly.

It is believed that the more ETH price rises, the later altcoins will bounce as well, as money is expected to flow into altcoins as long as Ethereum maintains a good upward trend.