Ethereum (ETH) News – Ethereum (ETH) is one of the best cryptocurrency performers today

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The downturn in Ethereum has been so severe that people are not accustomed to seeing Ethereum (ETH) performed exceedingly well. However, that is exactly what is happening today. Ethereum (ETH) has gained around 13.9% today. This has propelled it to the list of the best cryptocurrency performers for the day. It is ranked at the 8th position when it comes to intraday performances of cryptocurrencies.

Ethereum (ETH) is one of the best cryptocurrency performers today:

Just a couple of weeks back, Ethereum (ETH) headed to low of around $ 85. Ever since then, it has been railing relentlessly as well. Nobody expected the rally of such ferocious intensity. It is trading today around $ 127.70. It has surged by 13.9%. This clearly indicates that there is a lot of momentum when it comes to Ethereum. You need to however understand that there are plenty of resistances on the higher side as well.

If you’re thinking of investing in Ethereum (ETH), you have to mind the resistances as well. Only when you’re careful of the resistances, you can think about investing. The next resistance is around $ 143. On the lower side, there are a few supports and the closest one is around $ 111. Since it has rallied relentlessly, there are increased chances that it might give up some of its gains as well. This is the reason why you should always think about buying near the supports.

Up until now, most of the cryptocurrencies have defended the gains which they made in the last couple of weeks. Thus, it seems like this time around, Ethereum (ETH) might be able to defend its gains as well. If indeed, it is able to do so, it can consistently be one of the best cryptocurrency performers for a longer period of time. This is because it has fallen all the way from $ 1200 to the current price of $ 127.7. It has a long way to go just to recover the losses of the investors.

Many of the investors do not even know whether they will be able to see the same levels or not. In order to rise to newer highs, it will have to increase by more than 9 times from the current price levels as well. This is certainly not an easy task. It will require a lot of momentum as well as lot of buying. After the recent downturn in cryptocurrencies, not many of the investors are betting on such upswing in cryptocurrencies. That is why; you have to be careful while investing at these levels.

About Manish 352 Articles
I am an avid crypto lover and a electronics & telecommunications engineer by qualification. I follow the cryptocurrency & blockchain industry closely to focus on the latest news & developments.

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