Ethereum ($ETH), the second largest cryptocurrency by market capitalization, is breaking through its sell walls which were reportedly blocking its rise. It is also predicted that there are no other cell walls until $2,220, which is a positive sign for the investors. It is a notable point that Ethereum made various attempts in order to break the psychological barrier at $2,000 during the last 10 days, but it met with rejection every time. However, this time Ethereum has broken the sell wall and has crossed the $2,000 mark currently trading at $2,030 (up 8% today).

Ethereum Liquidates Shorts

There were people who used to have the opposite opinion regarding the rising prices of Ethereum. They were hopeful that the prices would decrease further. Their liquidation area was $2,000 so their trades have got liquidated. Bears were eying $1,600 area considering the last 30-day performance of $ETH. It is down almost 30% during the last 30 days.

The next sell wall for Ethereum is around $2220. By looking at the behavior of the market there is every possibility that Ethereum may break this cell wall too in coming days. Sentiment of the market and positive words of mouth can play key role in breaking this wall and attracting investors to invest in Ethereum and other altcoins.

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Ethereum has cleared a substantial barrier, and now it is paving the way for further gains. If this rise in Ethereum continues it may attract more investors to invest. This rise in the price of Ethereum can shift market sentiment.

$ETH Outperforming $BTC

$ETH is actually outperforming $BTC today. Today’s profit of Ethereum is +6.43% while the profit of Bitcoin is +0.89%. This clearly shows the upward movement of Ethereum in this profit comparison. This is considered a positive point for altcoins. By looking at the present condition of the market, it can be predicted that now all altcoins may see a bullish momentum.