Contents
- Ethereum achieves a new year high, exceeding the $2,400 threshold amidst market instability
- ETH saw a price fluctuation between $1,995 and $2,070 but eventually saw a significant 11% increase in value due to its momentum
- The presence of bullish MACD indications and robust market support indicate that ETH will likely challenge higher resistance levels shortly
Ethereum has reached a notable achievement, hitting a new-year peak by exceeding the $2,400 threshold in today's early hours of trade. This milestone is reached after a period of fluctuation in trade, ranging from $1,995 to $2,070. The market has just gained the required impetus for a significant upward movement.
Ethereum, the frontrunner among alternative cryptocurrencies, surpassed its barrier level, resulting in a notable 11% increase before facing opposition at $2,300. A significant increase in the histogram, which denotes an increase in purchasing activity, indicates that the Moving Average Convergence Divergence (MACD) indicates a buoyant market attitude.
Suppose the market continues to exhibit a positive sentiment and sustains Ethereum above the critical support level of $2,400. In that case, the digital currency may explore the $2,450 resistance level in the next week. Further upward momentum may propel Ethereum to test the $2,500 threshold throughout the following weekend.
The prospects for Ethereum in the cryptocurrency sector are promising. Due to ongoing technical improvements and a strong community, ETH is in a favorable position for consistent expansion and increased acceptance, solidifying its place as a prominent digital asset.
Tags : Crypto market cryptocurrency Ethereum