What do you think is next for Ethereum after 100% gain in January?

The price of Ether (ETH), the native cryptocurrency of the Ethereum blockchain network, achieved a new all-time high today

Technical analysis shows that the ETH/BTC pair is breaking out of its multi-year downtrend hitting the highest levels since September 2019, which should be great news for altcoins in general.

The surge in the price of Ether came after ETH broke its all time high by surpassing $1400 for the first time since 2018, moving market sentiments in its favour.

Some Market Analysts attribute Ether’s rally to the groundwork accomplished by developers in consistently trying to perfect the crypto for the past three years.

Analysts have reasons to believe that Ethereum’s current price rally may only be the tip on the iceberg, as trends show that the ongoing ETH rally is led by strong fundamentals and high developer activity, which makes it more sustainable.

In the foreseeable future, Analysts believe that there are two possible scenarios for ETH. Scenario 1: The price of ETH could rally after the CME futures listing in February, due to large capital inflows from institutional investors.

Scenario 2: ETH could also see a pullback after breaking its all-time high, as the momentum of the ETH/BTC pair cools down.

Either ways, the crypto can either go up or come down and all that matters in the long run is the position you take in the market.