Ethereum in good shape! – Bitcoin is clearly one of the assets of the moment, even a few weeks after the launch of spot Bitcoin ETFs. In fact, it is one of the three best performing cryptocurrencies over a month. The price of Bitcoin is up more than 10% in a week, but this is also the case for Ethereum. Will ETH price slow down at resistance at $2,800? Here is the bulletin for February 16!
Ethereum price rises almost 15% in one week
This week, the buyers clearly have the upper hand on the price of Ethereum. In fact, the course climbs slightly in 24 hoursbut above all, it shows an increase of almost 15% in one week :
In three months, the course is in 45% increase. Also, in six months, ETH displays a increase of almost 70%. Against Bitcoin, ETH climbs1.3% in 24 hours and more than 2% in one week.
Is Ethereum no longer the flagship cryptocurrency project?
Ethereum is the second capitalization of cryptocurrencies, and this has been happening for several years. Vitalik Buterin’s project is one of the strongest cryptocurrencies. He went through several bear marketsand he continues, until now, to score new all-time highs during the bull run phases. However, would ETH have lost its splendor ? It would seem that the users turn to other assets :
The Token Terminal chart shows the top 25 projects based on user activity. On this ranking, ETH is relatively far from the podium. He places himself behind Solana (SOL), Bitcoin (BTC) or even Tron (TRX). Despite everything, the Token Terminal site indicates a increase in active users on ETH. Indeed, ETH displays a 20% increase in one week and almost 30% in three months.
Is Ethereum heading towards $3,000?
Since the break of the bearish trendlinethe ETH price break the different resistances on his way and explodes on the rise. From now on, the price is moving above the area at $2,700. The course has the possibility of bounce at the level of moving averages 9 and 18 trending upwards :
ETH will have to break resistance at $2,930 to be able to find the psychological round number of $3,000. In fact, a break in this resistance could propel ETH onto the resistance at $3,100. In case of rejectionthe price could return to the level of support at $2,700. The RSI is bullishTHE buyers maintain control of the momentum in 4 hours.
During bull markets, Ethereum attempts to overtake Bitcoin in terms of capitalization. Be careful, users seem to be moving towards other projects, and second place on the Coinmarketcap ranking could change in the months or years to come. Despite everything, the price follows the bullish explosion of Bitcoin. Indeed, ETH is approaching the psychological round number of $3,000. Could ETH lead the way for altcoins?