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Cryptocurrencies:  7,509Markets:  31,658Market Cap:  $390,471,860,80324h Vol:  $100,130,272,087BTC Dominance:  61.6%
Market Cap:  $390,471,860,80324h Vol:  $100,130,272,087BTC Dominance:  61.6%Cryptocurrencies:  7,509Markets:  31,658

The Crucial Level to Watch as Ethereum Prepares to Shoot Toward $700

The Crucial Level to Watch as Ethereum Prepares to Shoot Toward $700

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The Crucial Level to Watch as Ethereum Prepares to Shoot Toward $700

Bitcoinist1 week ago
Published on October 17, 2020 11:00 GMT+0edited on October 17, 2020 10:31 GMT+0

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  • Ethereum topped out dramatically in August when it hit $490, then crashed.
  • The coin currently trades for $370, 25% below those highs.
  • Analysts think that Ethereum could soon shoot higher as the macro trend remains bullish.
  • ETH will need to hold a crucial support level in the $300 range, then decisively surmount the year-to-date highs around the high-$400s.
  • Institutions are getting bullish alongside technical analysts.
  • Grayscale Investments recently revealed that it has accumulated 2% of all of the cryptocurrency in circulation.

Ethereum Could Shoot Toward $600-700: Here’s Why

Analysts think that Ethereum is on track to shoot towards $600-700 in the coming months and years as long as it holds pivotal support in the vicinity of $300.

The head of technical analysis at Blockfyre, a …