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Ether prices did not remain below $3,000 for long and have returned to the psychological price level.
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“That’s a quick turnaround for ETH,” said MN Fund founder and crypto YouTuber Michaël van de Poppe on Wednesday.
The analyst added that the asset has “almost entirely reclaimed the losses of last week against Bitcoin.”
Ether Heading Back to Resistance
ETH prices gained 2.6% on the day to reach $3,028 during the Wednesday morning trading session in Asia. The asset was holding just above the psychological $3,000 barrier at the time of writing.
Ether only remained below this level for six days, and now appears to be heading for the next resistance zone at $3,100.
Glassnode analyst Chris Beamish reported on Tuesday that Ether is “trading on a dense cost basis cluster, a key breakeven zone for many holders.”
Santiment reported on Wednesday that Ethereum’s amount of “non-empty wallets on the network” has now ballooned to over 175 million, a record among all cryptocurrencies.
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Ethereum Fundamentals Are Strong
Ethereum’s validator network is so strong, and “we see continued demand to become a validator and stake ETH,” said Blockchain Technology Consensus Solutions CEO Charles Allen on Tuesday.
Over the past month, staking withdrawals have dropped to about a one-day wait, while the deposit queue has grown to more than 54 days, he added.
Meanwhile, Bitwise reported that last quarter, companies bought more than 1 million ETH worth $3.5 billion, the number of public companies holding ETH increased 40%, and Ether corporations accounted for 5% of all Ethereum holdings.
“Probably nothing,” they quipped.
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Source: https://cryptopotato.com/ethereum-price-reclaims-3k-in-quick-turnaround-amid-solid-fundamentals/








