The second largest cryptocurrency, ETH, rose to $1,279 over the weekend, but dipped slightly on Monday morning.
However, against the background of the fact that on June 18 the rate fell to $880, today’s rate above $1200 looks simply excellent.
Experts note that Ethereum reached a 10-day high and also gained support from buyers at the $1,200 level. At the same time, Friday’s selling ($60 million short positions in ether were liquidated on June 24) did not have a negative impact on the price of ether.
Experts from Genesis Trading noted that the source of potential volatility unexpectedly ensured the stability of the coin. However, as long as the price of Ether does not even reach 60% of last year’s maximum, there is no reason for excessive optimism.
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Source: IXBT
