Ethereum ($ETH) , the 2nd largest cryptocurrency in terms of market capitalization has just today broken the $3000 price barrier to set a new all time high price of around $3200. Ether is up more than 300% from the start of the year to mark a nearly quadruple return for investors.
Ethereum is regarded as the most innovative cryptocurrency with a large community of developers and advanced features like smart contracts , DAO (decentralized autonomous organisation ). With the new wave of NFTs (Non Fungible tokens) and DEX (Decentralized Exchanges) the usability of Ethereum has raised manyfolds. The mainstream adoption of Ethereum is fueled by these initiatives which not only onboard artists but also brings in collectors and supporters.
In terms of technical analysis, Ethereum posted a slight resistance at around the $2600 range and once that was broken, the price has just skyrocketed. It is showing no signs of slowing down and we might see a quick jump of 10-15% in no time.
The views and opinions shared are just for educational purposes and should not be considered as financial advice. Any opinions expressed are those of the writer and do not contain any financial or other legally binding commitments. Users should be aware that investing in cryptocurrency is a risky business and one must be aware of all the risks involved.
