Will Ethereum [ETH] bulls continue dominating the market next week
ETH bulls have finally summed up enough momentum to push out of its 6-month low range. Meanwhile, the Ethereum network just confirmed the official launch date for the Shanghai uptate which will happen in three weeks.
Will 4 four weeks be enough time for ETH to push above the $2,000 resistance?
Is your portfolio green? Check out the Ethereum Profit Calculator
Just a week ago, ETH seemed like it was falling off a cliff. Fast forward to the present and it is now up by roughly 32% from last week’s lows.
It owes this surge to the banking contagion that occurred last week. As a result, investors became more fearful of a widespread banking collapse, thus the FUD favored cryptocurrencies.
To recap, ETH’s upside was enough to push beyond the previous 6-month resistance level at the $1700 price range. Its realized price also soared to a 3-month high according to the latest Glassnode data.
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