In the last two months, two key levels have remained significant for the crypto asset which is the $125 and $145 key levels. The asset has maintained sideways trading, ranging between these two key levels.
Unlike Bitcoin, ETH bulls are yet to break the $145 key resistance levels. At the time of this report, Ethereum is exchanging hands under 2% at its recent price of $144.
In December 2016, ETH’s price rose from $7.50, from which it shot up exponentially to reach a high of $375 in June of 2017 gaining more than 4500%. ETH later went to hit its all-time high of $1,402 in January 2018.
Glassnode, a crypto firm that brings data intelligence to the blockchain and crypto space revealed from its recent stats that ETH exchange balance has hit a high last recorded since December 2016 when ETH had its exponential hike which shot it up to $375.
While the market was much limited then and Ethereum is uncertain in seeing again after this increases to such an extent, the dramatic increase in ETH’s exchange balance may suggest that such an unprecedented surge may be inevitable in the coming months.
Image Credit: Glassnode, Shutterstock
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