Ethereum Sits Comfortably About $4K, What’s Truly Fueling The Rally?
Ethereum unstoppable rally keeps on ranging towards uncharted territory. The cryptocurrency has been on seamlessly never-ending price discovery in 2021. The outlook is bullish and any prediction, at the moment, seems conservative. At the time of writing, ETH trades at $4,162 with a 9.3% in the daily chart. In the weekly and monthly chart, ETH […]
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Ethereum has been slowing down on its bullish momentum. The second cryptocurrency by market cap trades at $3,066 with a 4.2% loss in the daily chart. After two weeks of profits and an incredible rally from the low at $2,000, mostly driven by the implementation of EIP-1559, Ethereum could see some downside in the short term. The In/Out of the Money Around Price (IOMAP) metric, used to measure the average purchase price of a crypto asset and compared it to its current price, from IntoTheBlock suggests Ethereum sits at “stable support”. Analyst Ali Martinez shared the chart below and....