As of the writing of this article, Ethereum (ETH) 
$2,302 prices are climbing towards new records, approaching the once-dismissed $5,000 target. With the start of the week approaching, we had already anticipated further rises in cryptocurrency prices, and now ETH is extending its weekly climb with about six hours to the daily close.
Ethereum Price Record
Ethereum’s price surged to $4,937, nearing the significant psychological barrier of $5,000. While Bitcoin (BTC) 
$78,121 remains relatively stable, ETH continues its upward trajectory, making altcoin investors optimistic as this trend signifies a strong bull market for altcoins. Ten hours ago, TheoTrader shared the ETHBTC chart, stating it showed “the biggest buy signal” he had seen.
While BTC has nearly doubled its last all-time high, it wouldn’t be surprising for Ether to approach a $9,000 cycle peak due to its lower market cap. Many analysts perceive targets in the $8,000 range as reasonable expectations.
On-Chain Metrics and Future Projections
In our morning assessment, we discussed that ETH’s on-chain metrics indicate further upward potential, although its Total Value Locked (TVL) has not returned to its all-time high in the $115 billion range. This indicates we are in the midst of a very visible rally.
The ETHBTC pair targets 0.044, and surpassing this level could convince everyone that Ether is heading towards its true cycle peak. The coming hours promise to be eventful. Although Monday’s news flow is weak, ETF investors might continue to sustain ETH’s positive differentiation.
