Ethereum (ETH) price overshoots above $1,700 hinting a bullish momentum. And everyone was blown away.
James Seyffart, Bloomberg Intelligence research analyst, was impressed: “Ethereum just flew right through resistance there.”
Bitcoin, Ethereum, and other cryptocurrencies have soared following the Fed interest rate hike of 0.75%. It was indeed an optimistic kind of domino effect for the crypto space.
Can ETH Stay Above $1,700?
Now, that ETH was able to do the inconceivable, all that’s left for ETH to do is to maintain that momentum and do everything in its power to stay above the $1,700 line.
More so, Nasdaq Composite stocks were also up by 2.67% on Thursday despite the U.S. economic slump revealed in the GDP report. This is regarded to be Nasdaq’s recent all-time high since April 2020.
In addition, this is considered the biggest Nasdaq rate hike since December 16, 2008, wherein Ben Bernanke, Fed’s ex-chairman shaved off the interest to almost zero in the middle of a global financial crisis.
Ethereum is set to show ..
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