Express

Ethereum's Price Begins To Show Signs Of Strength, Must Break Past Key Resistance Level To Spark Stronger Rally

Emily Mason

Summary: Ethereum has been underperforming Bitcoin and the larger cryptocurrency market for weeks now, but the cryptocurrency seems to be making a run at turning the trend in its favor. The rest of the altcoin market rallying is likely dependent on ETH's ability to surmount resistance at $450. One analyst predicted in a tweet that Ethereum's ...

Ethereum has been underperforming Bitcoin and the larger cryptocurrency market for weeks now, but the cryptocurrency seems to be making a run at turning the trend in its favor.

The rest of the altcoin market rallying is likely dependent on ETH's ability to surmount resistance at $450. One analyst predicted in a tweet that Ethereum's price performance will mirror Bitcoin's. As evidence, he mentioned that ETH will be needed for staking, for gas for uniswap, for DeFi and for DAOs.

If ETH is able to break past $450 it will be in a strong position for an even stronger rally.

By Emily Mason

Last Update:

Tags: ETH,Ethereum
Link: Ethereum's Price Begins To Show Signs Of Strength, Must Break Past Key Resistance Level To Spark Stronger Rally [Copy]

Last: Switzerland-Based Bank Sygnum Partners With Taurus Group And Launches Staking Service

Next: CFTC Allows ErisX To Modify Clearing House License, Allowing The Company To Expand Beyond Crypto

Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 2 days ago

Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 3 days ago

Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 6 days ago

US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 7 days ago

Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 9 days ago