Geometry Dash APK Hill Climb Racing APK
30.6 F
New York
Tuesday, November 30, 2021

Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) Jumps On Crypto Hype: Is it Sustainable?

Must read

Bombardier, Inc. (OTCMKTS:BDRBF) Continues to Gain Momentum and Strength

Many stocks have managed to record significant gains in recent months and one that often flies under the radar is Bombardier,...

Grayscale Bitcoin Trust (Btc) (GBTC) Makes Big Move As Bitcoin Goes Wild

Bitcoin, the world’s biggest cryptocurrency by market cap, has been in the middle of a remarkable rally for the past few months...

Voyager Digital Ltd (OTCMKTS:VYGVF) Hits All-Time High on Download News

The remarkable rally enjoyed by several crypto assets over the course of the past months has also resulted in an increased demand...

Solar Integrated Roofing Corp (OTCMKTS:SIRC) Surges Higher On Sector Strength

The Solar Integrated Roofing Corp (OTCMKTS:SIRC) stock has come into sharp focus among investors and on Wednesday, the stock made significant gains...

The massive rally in the cryptocurrency space has been one of the biggest stories of the year in investment circles.

While Bitcoin, the world’s biggest cryptocurrency by market cap, has managed to make enormous gains, other large-cap cryptocurrencies have also made gains. This brings us to the subject of Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE).

Major Points 

While Bitcoin has hogged all the headlines, Ethereum has also managed to generate significant gains this year so far. At the beginning of the year, Ethereum was trading at only $132 per token, however, since then, it has made major gains and currently, it is trading at $610 per coin.

The trajectory of the rally has been quite strong in recent months and hence, it could be worthwhile for potential investors to keep an eye on Ethereum as well. That being said, it is also necessary to mention that at the beginning of 2020 Ethereum enjoyed a pretty strong rally.

At the time, the cryptocurrency went from $132 a token to as much as $281 a token and it seemed that the $300 mark was on the horizon. However, that did not happen and Ethereum had to endure a sharp correction. The current price level of the stock is a far cry from the struggle that the cryptocurrency endured for many months.

Back on May 1, Ethereum had hit resistance at $200 and for almost the entire month, it had failed to cross it. However, eventually, it bypassed the resistance and hit the next resistance at $250. This second resistance proved to be a bigger struggle and up until the middle of July, Ethereum struggled with it.

However, it was in July that the resistance was broken and the cryptocurrency rallied strongly to hit its next resistance of $400 towards the end of August.

The strong $400 resistance held strong for months but in the early days of November it was broken and since then, Ethereum has not looked back.

Disclaimer: We do not hold any position in ETHE stock

Latest article

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...

Net Savings Link Inc (OTCMKTS:NSAV) Goes Parabolic Ahead of Important Event

As far as cryptocurrency and blockchain companies are concerned, there are many options nowadays for investors to explore.

Dark Pulse Inc (OTCMKTS:DPLS) Stock Moves in a Range After The Big Rally

The laser sensing system company Dark Pulse Inc (OTCMKTS:DPLS) has emerged as one of the major gainers over the course of the...

Halberd Corporation (OTCMKTS:HALB) Stock Doubles After ‘Proof of Concept’ News

Investors are always on the lookout for stocks which managed to record handsome gains over a short of period of time and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service