According to the latest yearly crypto report by CoinGecko, ETH has been the standout performer of 2020. The second-largest cryptocurrency even outperformed its bigger brother, Bitcoin, clocking up gains of 472% over a 12-month span.
Despite registering the highest gains in 2020, ETH is yet to break its former all-time high, while BTC has since left its previous price record far behind.
However, according to Moonrock Capital Managing Partner Simon Dedic, ETH isn’t far from roaring past its former peak at $1,400. In a recent tweet, the capital manager argued that as soon as bulls breach the former peak, Ether will double in a flash, similar to what BTC did.
“You remember how $BTC pumped from 20k to 40k in just 3 weeks once it broke its ATH? $ETH will pump from 1.4k to 3k in less than 2 weeks once its ATH is broken imo, ” Dedic predicted.
While a move to $3k in such a short time might sound implausible, the FOMO that would arrive once ETH bypasses its former ATH could catalyze such a jump.
On the flip side, failure for ETH to break past $1.4K after spending three full years trading below the former high would spell disaster. The anticlimax would allow bitcoin dominance to continue at the expense of altcoins.
ETH Price Struggles To Clear $1,250
ETH gained bullish momentum on Friday and climbed above the $1,150 level that has been acting as strong resistance in recent days.
Once the bulls surpassed that hurdle, ETHUSD started a steady increase that took it above the $1,200 trend line support. A new high was formed near $1,252, after which the bears stepped in to halt the uptick. ETH is currently consolidating gains at its price of $1,137 after struggling to clear the $1,250 zone.
ETHUSD Chart By TradingView
LINK Price Revisits $19
Chainlink (LINK) is the best performing asset among the top ten cryptocurrencies by market cap, with gains of more than 15% over the past 24 hours.
The altcoin has been underperforming bitcoin over the past few weeks, but it has now posted a strong rebound that saw it break many hurdles near $16.20.
The LINKUSD pair even gained pace above $17.00, and surmounted the stubborn resistance at $18.00. As of this article’s writing, LINK is trading at $19.02 and could soon break $20K as the uptrend gathers momentum.
LINKUSD Chart By TradingView