Ethereum Takes $150

eth breaking ice abstract

Ethereum is finally rising, up some 7% today to retake $150 once more for the first time since November. That’s on considerable unfiltered volumes of circa $11 billion with the daily chart looking a bit interesting. By some stretch you could maybe see a cup and handle between December 16th and the beginning of the new year. If that’s the case then $150 isn’t much of a resistance, but $200 might be depending of course on what bitcoin does which might hang out at $8,500 or might head for $10,000. As a newly graduated safe haven asset, bitcoin has plenty of reasons to rise, including as a hedge from stocks which are getting maybe a bit bubbly, but why is eth rising? The simple reason is because it fell, maybe a bit too much, with it becoming perhaps a bit too cheap considering the developments in eth. Chiefly, decentralized finance…

Read the original article here