Ethereum On Way To Test $2,769.86
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Ethereum’s price increased 0.597% on Monday, closing at $2,506.95. This marks the third consecutive day of gains. It will be interesting to see if this upward trend continues or if the cryptocurrency experiences a short-term consolidation.
Ethereum’s price fluctuated within a range of $2,468.81 to $2,541.29 on Monday, representing a 2.94% daily price swing. Over the past two weeks, the cryptocurrency has been volatile, resulting in a net loss of 5.17%.
Trading volume increased significantly on Monday, a positive technical indicator. A total of 17 billion Ethereum were traded, amounting to approximately $42.43 trillion in value.
If price was to retrace, the recently breached $2,349.81 may provide support. If price continues to increase following Bitcoin’s current rally, the next resistance level is $2,769.86.
