- At the time of writing, ETH is trading at $2357, up 5.41% in the last 24 hours.
- If the price manages to go above $2386 level, then it will likely test $2724.
The altcoins have capitalised on the recent bullish momentum while bitcoin price witnessed a brief correction. The Ethereum price has reached its highest point in over 18 months. It wasn’t until early May 2022 that ETH traded above this level.
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 JPMorgan, who has been a strong proponent of closing down the cryptocurrency industry.
The purported use of cryptocurrency to fund terrorism, drug trade, and by rogue nations was the main topic of Warren’s speech.
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.
ETH Rallies as Bulls in Control
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%.
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.
