Ethereum’s price has been on the rise, up 11% in the last 24 hours. On its end, Bitcoin has been consolidating and trading above the $35,500 level.
The mainstream cryptocurrency has cleared the 20-day moving average, and currently, it has been unclear whether it is in the bull or bear market. Both ends have been struggling to gain control. Over the weekend, Bitcoin fluctuated between $34,900 and $37,850, with whales buying the dip. According to JP Morgan strategists, Bitcoin needs to break above $40,000 soon or the cryptocurrency could be hurt by “trend-following investors.” However, overall, market analysts still perceive Bitcoin’s bull run to be positive overall.
Ethereum (ETH) is also displaying bullish momentum, and may soon be hitting a new all-time high, above its previous price record of $1400. Currently, the second-largest cryptocurrency by market cap has been trading at $1,329.70 on CoinMarketCap. According to a pseudonymous crypto trader, Ethereum is on the