Ethereum has updated its all-time high

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Ethereum hit its all-time high, breaking its $ 500 billion market cap for the first time. On Binance, the price went up to $ 4,370. The weekly growth is more than 8% (reached 11%).

Ethereum continues its amazing upward movement. Since the beginning of April, it has risen in price by 127%, since the beginning of the year - by 480%. Since the March fall (2020) from the low of $ 86, the price has recovered by 4284%. Bank interest on deposits was lost against the background of these values.

On May 10, the Ethereum rate fell by 13%, to $ 3650, following Bitcoin and American indices. The demand for Ethereum is high, so buyers bought it after Tuesday's fall and today ATH (All Time High, the highest price ever) was updated in trading in Asia.

In the currency and stock markets, the situation remains uncertain due to the previously published weak report on the US labor market (May 7). Because of him, now all the attention is focused on the US inflation report for April. Bitcoin has recovered to 58 thousand, but so far it is behaving unpredictably.

The VIX Fear Index jumped to 23.7. Investors fear the start of a prolonged bearish phase. Ethereum needs to survive today. If the situation stabilizes in the US stock market, the rally will continue.

Ethereum is setting new highs against USDt and BTC. If you look at the horizon until mid-June, then against USDt the target is at $ 5600, against BTC - at 0.0975.

Resistance levels: 4450, 4550, 4680
Support levels: 4130, 4050, 3895

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Monthly TF - Bitfinex exchange (logarithmic scale). I did it for myself after the rebound in March. Fibo extension 61.2% passed. The next target is 20k by the channel by 01.08.21 and 100% by Fibo. At 5600 there is a serious resistance (concentration of levels).

Considering what is happening in the world (the problem with chips, video cards, hard drives, the massive closure of car factories, disruption of production processes due to a failure in the supply of various components, the growth of inflation, the emission of fiat, etc.), it is not clear where to close. Ethereum has risen in price by 73880% since 16. You can't be greedy either.

Posted Using LeoFinance Beta



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