Bitcoin\u2018s remarkable rise was eventually reflected in altcoins. Today,\u00a0Ethereum (ETH)\u00a0price has gained strong momentum, surpassing\u00a0$ 1000. Is a new ATH approaching? What levels are next for the leading altcoin?\r\n\r\nThe first gift of 2021 came from\u00a0Bitcoin. The leading cryptocurrency skyrocketed to $ 34,000 in the first minutes of the new year and then consolidated nearly $ 32,000. Soon, right after Bitcoin, the second gift of the new year came from altcoins. Ethereum has also joined Bitcoin\u2019s accelerating rise. On January 3, the leading altcoin\u00a0Ethereum\u00a0revived the cryptocurrency community, surpassing the $ 800 and then $ 900 levels. Today, however, earlier in the day, ETH broke the key resistance level at over $ 1000.\u00a0Josh Rager, one of the leading names in the cryptocurrency community, drew attention to the rapid rise of\u00a0Ethereum.\r\n\r\n$ETH is on a mission to hit all-time highs this week\r\nPretty amazing that Ethereum has doubled in price over the past two weeks pic.twitter.com\/NCXl9vevAs\r\n\r\n\u2014 Josh Rager ? (@Rager) January 4, 2021\r\n\r\n\r\n\r\n\r\nEthereum price reached the $ 1000 level for the first time since 2018. Thanks to this momentous event, the currency suddenly caught all the attention. At the time of writing,\u00a0Ethereum (ETH)\u00a0is trading around $916, according to\u00a0CoinMarketCap data.\r\n\r\n\r\nThe Key Factors Supporting the Ethereum Rally\r\nTwo key factors support the current\u00a0ETH\u00a0rally and could drive the price up further. The first is the market structure of the second-largest crypto by market cap and the\u00a0ETH\u00a02.0 update. The second important factor is that\u00a0CME\u00a0has recently launched the Ethereum futures market. The\u00a0Chicago Mercantile Exchange (CME)\u00a0Ethereum futures market is expected to begin in February 2021. Ethereum futures will be listed on February 8, more than three years after the release of Bitcoin futures.\r\nAnalyst Comments on Ethereum\u2019s Current Rally\r\nExpert analyst\u00a0Aayush Jindal\u00a0commented on Ethereum\u2019s current rally. The Ethereum price is trading in a strong uptrend, according to the analyst. The bulls are watching a clear break above the $ 1,050 and $ 1,080 levels, and if they succeed, the next big step could be the $ 1,200 level or $ 1,238 level. If Ethereum fails and starts a negative correction, the initial negative support could be near the $ 950 level. The next major support is near the $ 920 mark. If more losses occur, the $ 750 level can be tested.\r\n\r\nAt the same time, prominent economist\u00a0Alex Kr\u00fcger\u00a0shared a tweet stating that Ethereum is taking back a three-month drop against Bitcoin in one day.\r\n\r\nEthereum undid a three month slide against bitcoin ... in one day. pic.twitter.com\/3HROibA0s7\r\n\u2014 Alex Kr\u00fcger (@krugermacro) January 4, 2021\r\n\r\n\r\nEver since\u00a0Bitcoin\u00a0broke the record to reach $ 20K, Ether has been performing sluggish compared to BTC. But now, high peaks in technical analysis point to strong momentum for ETH. Strengthening ETH on the daily chart could increase the demand for Ether among traders.\r\n\r\n#coinsfera #cryptonews #buybitcoinistanbul #buybitcoindubai #buybitcoinkosovo #buybitcoinwithcash #sellbitcoinwithcash #buybitcoin #sellbitcoin\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\nDisclaimer: All information provided in the content is for informational purposes only and should not perceive as an investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.