Stock Groups

Ethereum eyes $3.5K as ETH price reclaims pandemic-era support with 40% rebound -Breaking

[ad_1]

© Reuters

Ether is Ethereum’s native currency (ETHAs it has regained a historical high support level, dated February 5, ), looks set to surpass $3500 in the coming sessions.

ETH’s price rose above its 50-week exponentially moving average (50 EMA) which means that the price also climbed above $3,000, a psychological support area that could be used as the foundation for Ether’s next leg.

Weekly price chart. Source: TradingView
Weekly chart of the ETH/USD exchange rate. TradingView
Weekly price chart: ETH/USD. TradingView
U.S. nonfarm payroll data. Source: Bureau of Labor Statistics. Bloomberg
Performance of crypto investment vehicles in January 2022 Source: CryptoCompare, FT
The weekly chart of ETH/USD prices with Fib retracement levels. TradingView