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As bitcoin surges, the largest altcoin by market cap, Ethereum (ETH), is trading at $1,808.42, up 5% in the last 24 hours.
Ethereum/Tether Daily Chart (Source: TradingView)
On top of all that, ETH was able to strengthen against its biggest competitor, Bitcoin (BTC), by about 0.46% over the past day.
Looking at the extended time frame, it is clear that the altcoin is doing well as ETH has gained 26% in the last week and is up over 7% in the last month.
Well-known crypto trader, entrepreneur and analyst Michael van de Poppe believes that the altcoin price may test new highs in the coming days. According to him, now the nearest resistance of ETH is at $1850.
Ethereum/Tether 4-hour chart (Source: TradingView)
However, it is very likely that ETH will fall to the level of $1680 to $1725 before the upward surge, after which there will be a rise to $2000.
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