Ether (ETH) reached the $ 3,500 mark on May 4 when this week’s altcoin rally star battled Dogecoin (DOGE) to surpass the bounce.
1 hour candlestick card ETH / USD (Bitstamp). Source: TradingView
Ether does not stop at $ 3,500
Cointelegraph Markets Pro and TradingView data followed the ETH / USD data as the pair crossed the last of their historical limits and continued to rally.
At the time of writing, the largest alternative currency by market value was in a pure price position, as it looked for resistance above $ 3,500.
Ether has already reached new highs on a daily basis this week, with a seven-day gain of 36%.
The excitement was palpable for both analysts and traders.
Scott Melker told his Twitter followers: “I’ve been calling $ 3,600 from ETH for over a month now, but I think it could be a lot higher.”
Short-term price targets require $ 5,000, and despite the range, $ 10,000 to $ 20,000 are unheard of because Ether has surpassed Bitcoin (BTC) in US dollar gains over the past year.
Market value dominance chart for cryptocurrency. Source: CoinMarketCap
Winklevoss calls Dogecoin “people’s money”
However, on May 4, ETH was not the only one. After turning from full-time highs last month, Dogecoin is back for revenge, crushing its best and topping $ 0.50 for the first time.
The discovery of a new price cap continues at the time of writing, with DOGE / USD throwing $ 0.55 amid a daily gain of 38%.
One-day DOGE / USD candlestick chart (Bittrex). Source: TradingView
The move came when the largest Gemini exchange announced it had merged support for Dogecoin, a day after the eToro trading platform announced it.
“Dogecoin is people’s money. Co-founder Tyler Winklevoss, it’s organic, reverent and fun. ”
Bitcoin has predictably felt the heat of the rise of altcoins, resulting in a loss of both market dominance and price power to nearly $ 55,000 for the second time in 24 hours.