In the last 48 hours, Ethereum (ETH) has increased by 25%. This is one of the main reasons why many investors are now paying attention to Ethereum (ETH). After falling consistently for the last month or so, this is a significant bounce back for Ethereum (ETH). Not only, it wasn’t able to show a significant bounce back but it was also able to cross the resistance of $ 200 as well. This is one of the main reasons why many of the investors are trying to figure out whether it can increase even further.
Moreover, Ethereum (ETH) is still the 2nd most valued cryptocurrency. That is why the move in Ethereum is pretty important as well.
Ethereum (ETH) volumes surges at all year high:
The volumes yesterday on Ethereum were around $ 0.85 million on Bitfinex alone. This clearly indicates that the volumes are surging as well. Bitfinex has not seen such volume in the past year. That is why the volumes have actually soared. Moreover, the weekly volume is around $ 2.9 million. This is the highest level since mid-December on a weekly basis. This is one of the main reasons why it seems like Ethereum might be back on the radar of the investors.
On the other hand, it is consolidating its position currently as well.
While some of the other cryptocurrencies might be falling once again but Ethereum is holding the fort steady. This is another reason why it might be resilient this time around as well.
After witnessing a significant fall from $ 1200 to just $ 200, it is starting to bounce back. This 25% bounce back is a clear indicator that there is plenty of strength left in Ethereum (ETH).
It remains to be seen whether it is able to consolidate its position further or whether it just filters away like some of the other cryptocurrencies.
If indeed, it is able to consolidate its position, the value of Ethereum (ETH) will increase further as well. In such a case, a long opportunity will be opened up as well. This will actually help the investors to make a quick profit as the movement is certainly increasing when it comes to Ethereum (ETH). These are the reasons why if you’re an investor in cryptocurrencies, it is time to pay attention to Ethereum (ETH) instead of just ignoring it as a currency which consistently falls as well.