News

Ethereum jumped to a 10-month high

Jun 24, 2019 Forex News

After the breaking of $10,000 mark by Bitcoin, Ethereum also has broken its psychological level at $300 mark.

On Monday, June 24, ETH is trading just above $307, the market capitalization reached $32.701 billion. Last time Ethereum was traded above $300 in August 2018, the coin jumped by 129% in annual terms, and in the last 24 hours, its rate has grown almost on 10%.

In December last year, ETH was trading at just above $85, and many traders sold this asset, believing that we will soon see its reset. But the coin began to strengthen in the winter and over the past few months was able to return the lost positions.

It’s too early to talk about repeating the rally at the end of 2017. Recall that in January last year, ETH grew to $1,431.

Now technical indicators speak in favor of maintaining a positive trend, but the rally will not be as aggressive as two years ago, experts say. Even if Ethereum will overcome the $400 mark within the next month, this will be a great achievement of the asset.

The prerequisites for the further strengthening the cryptocurrency have already been fixed. However, it is possible to single out the intensification of developers of decentralized applications, since in the ETH network in April-May the number of such products has increased dramatically, the report says the company Diar.