Ethereum has bounced impressively overnight, reclaiming $2.9K after hitting $2.3K during the recent flash crash. Ethereum remains the largest crypto asset behind Bitcoin, with a gargantuan market cap of over $350 billion.
Despite its main rival Solana looking ready to outperform in the short term, Ethereum has a history of putting in a rally when the market least expects it and proving its many naysayers wrong. Many analysts are confident that Ethereum could soon reach $3.5K, which would certainly put some distance between Ethereum and the various Ethereum killers in the top 10—namely Ripple and Solana.
Despite losing 20% in the last month, Ethereum holders should be confident that Ethereum is entering oversold territory and could put in a famous Ethereum god candle during the next leg up. While Solana could well put in a new high in the coming weeks, Ethereum remains an attractive buy at these levels. As Eric Trump recently tweeted, “It’s a great time to add $ETH.”
