As the digital currency market continues to switch in the middle of green and red after a difficult few weeks, Ethereum (ETH) is making small daily gains, leading cryptocurrency specialists to identify critical levels for these modest increases to continue.Indeed, Ethereum (ETH) is facing critical resistance at around $1,200-$1,2500, which it has to break in order to push toward the 1st price target at $1,336 and the second at $1,547, as reported by an analysis by the cryptocurrency trading expert Michaël van de Poppe, published on November 24.As he added:“Preferably want to see it sustain over $1,150.”It is likewise worth mentioning that Bitcoincenter’s Ethereum (ETH) rainbow chart had earlier breached the ‘Fire sale’ spot, the lowest band on the chart, last recorded in March 2020, as it was left without any lined-up catalysts that could trigger a positive trend run. In the meantime, the current price of Ethereum (ETH) seems to have captured the attention of shark and whale investors (holding in the middle of 100 and 100,000 ETH), as they have been accumulating at the most significant price in two years. In addition of that, the cryptocurrency community is still positive trend on the price of Ethereum (ETH) by the year’s end, estimating it would trade at an average of $1,465 on December 31, 2022, although this is a slightly lower prediction than the one earlier reported by Finbold, which stood at $1,509. At the time of publication, Ethereum (ETH) was approaching Van de Poppe’s resistance zone, currently worth $1,195, up 2.33 percent on the day. Nonetheless, it was still down 0.39 percent across the previous week, adding up to the cumulative loss of 11.56 percent on the monthly chart.With its market cap standing at $146.18 billion, Ethereum (ETH) retains the position of the second- largest (DeFi) (DeFi) crypto token, second only to Bitcoin, as per CoinMarketCap data retrieved by Finbold on November 24. You need to know: The content on this site should not be considered financing advice. Investing is speculative. When investing, your financial resources is at risk.
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