The cryptocurrency market is booming this week. Following months of stagnation macroeconomic conditions, and geopolitical development saw some optimism. The economy has been stagnant for months. Ethereum There is only one thing standing between ETH’s $3,000 goal and its current performance.
This asset is the second most valuable cryptocurrency according to market cap. Also, experts discussed the cryptocurrency poised to overtake Bitcoin. Analysts, however, have identified one important aspect which may prevent Ethereum’s break through to the critical level.
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What is the value of Ethereum at $3,000? How to get it?
After the arrival of US Presidential Donald TrumpDigital assets are on the increase. His return to the White House brought the first crypto-friendly administration in American history. It is anticipated that this will manifest itself in favorable regulations to the growing asset class.
This year, the potential of several tokens has been enormous. Over the course of last week, several coins have seen significant gains. Ethereum is also expected to grow, but there’s one obstacle that could prevent it from reaching the $3,000 milestone.
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Ethereum has risen 42% over the past week, even though it dropped 3% yesterday. But long-term owners have been selling more, putting the asset in danger of increased pressure. Data from GlassnodeThe liveliness metric of ETH showed a dramatic increase. It is clear that this group has been selling more.
This is the first time in 3 months that this value has risen. This shows that some investors want to make money from the rising asset. This is risky for Ethereum as the value of the asset could stop increasing. A strong support of $2,346 to $2,412, containing around 64 billion ETH, worth $164 billion, should stabilise the price. The $2,654 resistance level will be a major obstacle.
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Source: watcher.guru
