After breaking above its previous all-time high of $1432, the world’s second-largest crypto by market capitalization Ether (ETH) is continuously exploding as it has moved past another significant price level in order to set a new all-time high. Impressed with this amazing bullish performance of Ethereum, a famous cryptocurrency trader goes bullish on three other altcoins, which, according to him, are expected to follow the second-ranked digital currency.
ETH Hits A New ATH Of $1689
ETH has crossed the bullish figure of $1600 earlier today on the 4th of February by posting a remarkable price rally. According to the data by CoinMarketCap and Trading View, the top altcoin rose high to hit the mark of $1689, which is now the new all-time high figure for the coin. It was pretty close to break the figure of $1700 as well, but it faced rejection at this price level and moved down instantly.
As of the press time, the price value of ETH is holding at around $1635 with a change rate of 0.80 percent in the last 24 hours. It is trading up by more than 21% on a weekly basis. The trend line is moving in an upward direction, which means that coin is looking to go up further from its current ATH.
Three Altcoins May Follow Ethereum’s Price Rally
A famous cryptocurrency trader and strategist named Smart Contracter has said that he has gone bullish on three more altcoins after looking at the glorious bullish rally of the number-one altcoin.
He is of the view that three altcoins, including AAVE, the native governance token of the leading decentralized finance (DeFi) protocol Aave, the famous decentralized oracle network Chainlink’s native crypto token LINK, and the decentralized protocol Ren’s digital currency REN are likely to follow the price breakout of the second-ranked digital currency in the short-term case scenario.
While talking about AAVE particularly, he said that this digital currency would perform better against all of its three pairs Bitcoin (BTC), Ethereum (ETH), and USD. Aave is already in good momentum as it recorded its all-time high of around $437 on Wednesday.