Ethereum (ETH) is one of the most viral cryptocurrencies this January and the biggest altcoin which is featured every day on our DC Forecasts crypto news site. Obviously, there are a lot of reasons why ETH is in the spotlight. One of them is the recent price surge which made ETH rise by more than 35% in a single week.
Right now, a lot of investors are questioning the possibility of Ethereum (ETH) breaking above the 0 mark and eventually reaching 0.
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Currently, Ethereum trades at $153 in a 2% drop this Sunday – but the correction is still nothing compared to its growth this new year.
The price week is a solid proof for that. Ethereum then followed a solid bullish path above the $120 area against the US dollar, breaking through the $142 resistance area later and settling above the simple moving average. Later on, Ethereum broke the $150 level and climbed to $154, after which it also broke the $160 level and traded towards the $162 level, establishing a new high.
Even though Ethereum corrected and is recently trading above the $150 mark, the rise has been meteoric and following good news in terms of adoption of the cryptocurrency. All of that indicates that the ETH price is still above the $142 support level and a break above the $162 swing high may open the doors to $170 and $180 as the next targets for the second biggest cryptocurrency out there.
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