The dance of Ethereum and Bitcoin
The chart above shows that Ethereum has broken out above the 0.08 Bitcoin resistance in the past few hours. This is particularly impressive given that the bulls have struggled to break the 0.075 Bitcoin zone since January. The big question is how long Ethereum can sustain this and whether there may be room for additional rises.
At the time of writing, Ethereum is also fighting to break the $2,000 psychological barrier. A special course that Ethereum has not seen since May of this year. The price was broken for a while, then fell back but is currently above the level with a price of 2.011 dollars. The good performance of Ethereum also benefits the rest of the altcoins.
Market cap altcoins back above $700 billion
Ethereum’s momentum seems to be driving investors more towards altcoins at the moment. “Since Ethereum’s Merge gets closer, it has outclassed Bitcoin and pushed up other altcoins as well,” said Yann Allemannn and Jan Happel in the latest issue of their “Uncharted” newsletter.
