The Ethereum price is up 4.3% in the last 24 hours, following the general market sentiment of the crypto market. In anticipation of today’s speech by US Federal Reserve chairman Jerome Powell at the Brookings Institution, crypto bulls seem to be anticipating possible dovish comments. At press time, Ether (ETH) was trading at $1,265, with trading volume continuing to fall to just $7.8 billion, down about 2.8% from the previous day. With the current move, Ethereum has managed to break through the key resistance at $1,230. As NewsBTC reported, resistance at $1,288 (on Binance) is now up for grabs before the first major resistance is encountered at the $1,300 level. In addition, investors should keep an eye on the $1,330 level as this is the threshold to recoup losses from the FTX crash. Ethereum Whales Foreshadowing Bigger Price Moves Meanwhile, data from Santiment is backing the bullish case for Ethereum (ETH). The on-chain analytics firm shared that Ethereum’s large key addresses have increased since the FTX debacle in early November. Related Reading: Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout In the ..
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