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Traders are unsure if ETH will be able to hold the $1,200 level as the S&P 500 is fast approaching the key 3,900 support level and ETH derivatives data points to further losses.
As ETH price action hits multi-week highs, new Bitcoin support and resistance levels emerge within an "extremely tight" trading range.
Ethereum gained good momentum after transitioning to a PoS, lifting its market dominance to 20%. Now it's breaking from ascending triangle in pair to BTC.
Professional traders havenβt bought the recent ethereum rally, with data showing they expect a pullback in ether prices if Federal Reserve Chairman Jerome Powell strikes a hawkish tone on Wednesday.
According to recent data, Ethereum will execute four times as many transactions on the Ethereum (ETH) network as on-chain Bitcoin by 2022.
Bitcoin fell for a second day in a row as markets continued to digest the latest U.S. retail sales data.
The governance token of the top liquidity staking solution rallied as Ethereumβs Shanghai upgrade aimed to reduce ETH staking risk by opening up ETH withdrawals.
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