Ethereum is Primed to Shoot Towards $400 as Market Support Is Strong


Ethereum and Bitcoin have seen mixed performance over the past few days. There was an attempted breakout a few days ago, but that failed due to weakness in legacy markets. ETH is up 0.8% in the past 24 hours, slightly outperforming Bitcoin. Ethereum is primed to move higher in the coming week or two due to on-chain and technical support, one analyst says. This rally would be in line with the introduction of the ETH2 rehearsal testnet that will precede the launch of the official upgrade. Analysts say that the upgrade is important for the cryptocurrency because it will drive usage. Ethereum’s price action, though, is at the end of the day somewhat dependent on that of Bitcoin. Bitcoin’s price action determines the directionality of the rest of the crypto-asset market. Ethereum Could Soon Move to $400, Analyst Says as Market Bid Comes In Over the past few days, multiple…

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