Ethereum Price Today – The Ethereum price is rising due to the maddening interest in decentralized financing at Fintech Zoom

Ethereum Price Today – The Ethereum price is rising due to the frenzied interest in decentralized funding

  • The price of the Ethereum has broken free from its February high in the past two weeks.
  • The popularity of non-fungible tokens (NFTs) means a ton of potential for ETH investors.
  • With the “old season”, ETH is at the top of the market capitalization for cryptocurrencies.

Ethereum’s price has risen for the third straight week, knocking down the 2018 bear market’s Fibonacci retracement from 161.8% to $ 2,248 today. The outlook for ETH remains optimistic. The next resistance is at $ 2,500.

The price hike in Ethereum still doesn’t require a heavy buy

Sometimes rallies take time to attract strong buying, but it’s worth watching the rally unfold. The lack of interest will reduce the likelihood that ETH will break through significant tactical levels in the coming days and weeks.

As noted above, ETH should close above the 161.8% widening of the 2018 bear market at $ 2,248 today and close to the 138.2% widening of the February correction at US $ 2,327 in one day. The following major target for progress is to align the 161.8% extension of the February correction to $ 2,504 and the symmetrical triangle’s measured movement target of $ 2,507.

If the buying is strong, speculators should consider the February correction’s extension level of 261.8% at $ 3,253 as a possible price outcome in the coming weeks.

ETH / USD daily chart

It is common in technical analysis circles to hear that resistance becomes support, and at the February high of $ 2,041, discussion of ETH support begins. The next layer of support is the 50-day simple moving average (SMA) at $ 1,800, followed by the 100-day SMA at $ 1,633.

Ethereum Price Today – The Ethereum price is rising due to the frenzied interest in decentralized funding

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