Ethereum price action is pushing higher over the weekend, setting a new 2023 high. The move is also a significant sign that an uptrend is forming. Could $3,000 be the next stop for Ether?

Ethereum Sets New 2023 High, Uptrend In Progress

ETHUSD has struggled to catch up to Bitcoin’s unstoppable dominance throughout most of 2023, but that could soon change.

That’s because Ethereum is finally joining in on the bullish price action across crypto, making a new 2023 high.

The move is also a local higher high. A series of higher lows and higher highs is the pure definition of an uptrend. Ether has also satisfied the increasingly higher low market structure.

ETHUSD Ascending Triangle Targets $3,000 To $4,000

Leaving $2,000 behind after weeks of consolidation above it immediately puts $3,000 in play. Ethereum is also breaking upward out of a 18-month-long ascending triangle pattern, with a target of $4,000 per ETH.

If the top altcoin makes it back to such levels, it has a strong chance given the recent momentum in the crypto market, to reach new all-time highs.