Markus Thielen, head of research at Matrixport, noted in a report this week that the recent altcoin craze has revived network activity.
ETH breaks out of the downtrend and could head towards $3,000.
Markus Thielen said: “The Ethereum ecosystem’s revenue is bottoming out from depressed levels; this may signal a tradable bottom for Ethereum. As long as Ethereum weekly fees remain above $30 million, tactical bullish trades may have value” , who set a $3,000 price target based on technical chart patterns.