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Ethereum reclaims

Ethereum reclaims pandemic era support with a 40% gain in the price

Ethereum reclaims pandemic era support of $3k by gaining 40% as of today. The second-largest currency is eyeing $3500 for the next leg up because psychological support of $3k can provide ground.

The whole crypto market is recovering from the recent bearish cycle which has been going on since last month. Flagship currency led this recovery by crossing a critical resistance level of $40k. At current, BTC is exchanging hands above $41k. Altcoins followed this move of the flagship currency. Ethereum reclaims the pandemic era support with a significant gain of 40%. The second-largest currency is eyeing for the $3.5k with prominent support at $3k.

Ethereum reclaims pandemic era support:

According to the CoinMarketCap, Ethereum reclaims pandemic era support but still, it is 38% behind from its ATH on November 16, 2021. The latest buying in the Ethereum market appeared as strong earnings from Amazon.com Inc. boosted investors’ confidence in riskier assets, including technology stocks and Bitcoin (BTC). The jobs report from the US can play spoilers for the whole crypto market.

Ethereum reclaims

Alex Mashinsky of the Cisco Network has predicted the outlook for the flagship currency and Ethereum. In an interview with Kitco News, the CEO predicted that we might see another correction in the coming days but for the future, he is optimistic. He believes that BTC will cross the $100k price mark while Ethereum will also trade from $6k to $7k by the end of this year.  

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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