Ethereum (ETH) has experienced a strong week, rising 7% over the past seven days and hitting a current price of $2,545.71. The recent gains continue a positive trend for the cryptocurrency, though volatility persists as evidenced by Bollinger Bands.
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Ethereum’s price has dropped by nearly 4% in the past 24 hours, continuing a downward trend that has seen the coin lose value over the past week. This article provides a detailed analysis of the price movement, volatility, and trading volume for Ethereum, offering insights into the current market dynamics.
Ethereum’s recent rally, despite a rebound in the ETH/BTC ratio, might be short-lived, according to 10x Research. They suggest that underlying fundamentals remain weak, and the recent uptick is likely driven by short covering ahead of the CPI data release rather than a fundamental shift. Ethereum’s inflation, challenges facing spot ETFs, and the continued dominance of Bitcoin in the institutional market raise concerns about Ethereum’s long-term viability.