The biggest altcoin by market cap, Ethereum (ETH), is one of the cryptocurrencies in the green as the market is getting ready to head into the weekend. The crypto market tracking website CoinmarketCap indicates that ETH is currently trading hands at $1,665.44 after a 1.46% increase in price over the last 24 hours.
Ethereum / Tether US 1D (Source: TradingView)
The altcoin was able to reach a high of $1,674.60 and a low of $1,604.80 over the same time period. Although things are starting to look up for ETH, the altcoin is still down by 0.86% over the last seven days.
ETH did also weaken against its biggest competitor in the market, Bitcoin (BTC), by about 0.10% over the last day. Also in the red zone is ETH’s 24 hour trading volume which stands at $8,999,329,946 after a more than 4% decrease since yesterday. In terms of market cap, ETH currently stands at $203,712,343,080.
The well known crypto analyst and the CEO of Eight Global, Michael van de Poppe, took to Twitter earlier this morning to share some of his own insights about ETH and what the price of the crypto could do in the coming days.
Ethereum / Tether US 12h (Source: TradingView)
According to the post, van de Poppe believes that $1,600 is a “great” level for longing on Ethereum. He also added that the trend will likely continue from this level. When looking at the comments on the post, it seems like most of the people in the crypto community agree with van de Poppe’s prediction.
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Source: Cryptocurrency - investing.com
