RATE Group | Ethereum Near Levels That Sent Price 25% Down in 2019
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Ethereum Near Levels That Sent Price 25% Down in 2019

30 Apr Ethereum Near Levels That Sent Price 25% Down in 2019

Posted at 03:45h in Cryptocurrency News by

  • The Ethereum price hits eight-week high after rising alongside top rival Bitcoin in tandem.
  • The second-largest cryptocurrency faced resistance near $212, but it could close above it owing to a bullish macro narrative.
  • Its real challenge is to extend its breakout above $226, a level notorious for capping Ethereum’s bullish advances.

The price of Ethereum hit an eight-week high after taking cues from its top rival, Bitcoin, which too rose to record levels on Wednesday.

The ETH-to-dollar exchange rate established an intraday high at $211.60, up 7.61 percent since the London midnight open. The move uphill came as a part of a broader uptrend that started after the pair bottomed out near $90 in mid-March. Nevertheless, Ethereum was still trading more than 25 percent lower from its year-to-date high of circa $288.

ethereum, ethusd, cryptocurrency, bitcoin, crypto

ETHUSD rising steadily but risks deeper downside correction | Source: TradingView.com, Coinbase

The cryptocurrency post noon pulled back from $211-high. But it hinted to close above…

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