• Ethereum, the second-largest cryptocurrency by market cap, is trading above a crucial resistance level.
• A top analyst forecasts a 31% jump in Ethereum’s price, taking it above the $2,000 mark.
• Bitcoin, the world’s first cryptocurrency, is hovering between $22,000 and $23,000.
The crypto market is showing a strong bullish trend as major altcoins continue to trade above crucial resistance levels. Ethereum, the world’s second largest cryptocurrency by market cap, is currently trading at $1,606. This is a 3.37% increase over the past 24 hours.
Top crypto trader and analyst Altcoin Sherpa has predicted a 31% jump in Ethereum’s price, taking it above the $2,000 mark. The analyst tweeted to his 189,700 followers that the altcoin is testing an important support level of $1,500. If this support level holds, Ethereum could be poised for a significant upswing.
Meanwhile, Bitcoin, the world’s first cryptocurrency, is hovering between $22,000 and $23,000. In the early hours today, the flagship currency surpassed its crucial level of $23K before making a slight downfall. Nevertheless, the crypto market remains in a positive state with Ethereum, XRP, BNB, Cardano, Solana and other major altcoins trading green.
It is important to note that these predictions should not be taken as investment advice. Cryptocurrencies are highly volatile, and traders should always do their own research before investing. With that being said, Ethereum seems to be in a position to make an impressive move in the coming days. Investors should keep an eye on the altcoin’s price movements and act accordingly.
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