Ethereum

Squawk

<ul>
 <li><strong>At the time of writing, ETH is trading at $2357, up 5.41% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to go above $2386 level, then it will likely test $2724.</strong></li>
</ul>
<p>The altcoins have capitalised on the recent bullish momentum while bitcoin price witnessed a brief correction. The <a href="https://thenewscrypto.com/ethereum-and-solana-lead-crypto-rally-as-bitcoin-faces-correction/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> price has reached its highest point in over 18 months. It wasn’t until early May 2022 that ETH traded above this level.</p>
<p>Cryptocurrencies are a new danger to the US, according to Senator Elizabeth Warren, who has often spoken out strongly against them. Her remarks, which she delivered on December 7 during an interview on CNBC’s Squawk Box, align with the opinions of Jamie Dimon, the CEO of <a href="https://thenewscrypto.com/jpmorgan-ceo-jamie-dimon-criticizes-cryptocurrencies-in-senate-hearing/" target="_blank" rel="noopener noreferrer nofollow">JPMorgan</a>, who has been a strong proponent of closing down the cryptocurrency industry.</p>
<p>The purported use of cryptocurrency to fund terrorism, drug trade, and by rogue nations was the main topic of Warren’s speech.</p>
<p>After five years of inactivity, a long-dormant Ethereum whale recently transferred almost $90 million worth of ETH to the cryptocurrency exchange Kraken, sparking debate among experts. Kraken received a deposit of 39,260 ETH from the whale. At one point in 2017, this address had received 47,260 ETH, which was worth little over $11 million at that time.</p>
<h3 class="wp-block-heading" id="h-eth-rallies-as-bulls-in-control">ETH Rallies as Bulls in Control</h3>
<p>At the time of writing, ETH is trading at $2357, up 5.41% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 32.54%.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_7D_graph_coinmarketcap-1.png" alt="" class="wp-image-87070" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_7D_graph_coinmarketcap-1.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_7D_graph_coinmarketcap-1-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price manages to go above $2386 level, then it will likely test the $2724 resistance level. However, if the ETH price dives below $2331, then it will decline further to test $2269 support level.</p>

Ethereum Eyes Breaking Above $2386 Level as Price Rallies

Table of Contents

TheNewsCrypto

Other articles published on Dec 8, 2023

Bitcoin (BTC) Holds Strong Above $45K Amidst Mixed Crypto Market Trends

Jito (JTO) Price Surges On Airdrop, CEX Listings: Will The Hype Last?

Three Giant Cryptocurrency Whales Just Sold Huge Amounts of This Altcoin

XRP Briefly Tops BNB by Market Cap

XRP Claims Top Spot for 2024-2025 Bull Run: Ben Armstrong

LayerZero Confirms Token Launch in First Half of 2024

Join our free newsletter for daily crypto updates!