ETFs Halted Excessive Price Drain: Will Ethereum (ETH) Bounce Back to $3000 This Week?
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The cryptocurrency market is showing signs of recovery after recent losses, with the global market capitalisation rising above $2 trillion during early trading hours. Ethereum's price has climbed back to $2500, and Bitcoin has surpassed $57,000. Both leading cryptos are nearing major resistance levels, and if they overcome these, Ethereum could potentially bounce back to $3000 this week.
The increased interest in ETFs has helped to halt excessive price drain, particularly in Ethereum. This positive momentum could continue driving prices upwards, benefiting investors and the overall market.
Analysts remain cautiously optimistic, watching for how these resistance levels hold in the coming days. They believe that sustained buying pressure and renewed confidence in the market could lead to significant gains for Ethereum and other cryptocurrencies.
Source: coinpedia.org ↗
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