During the mid-May crash, both bitcoin and Ethereum had to go through some rough patches; first of all, their prices dropped in a free-fall manner, and investors’ support started to dwindle across the board and last, but not least, the adoption numbers felt stuck at a single number.
But since both Bitcoin and Ethereum have managed to come out of it and do something incredible for themselves, such as gaining the investors’ confidence back and once again signing back to their original value in terms of price. But it is Ethereum that has done something remarkable for itself this time around, which is scoring an all-time high; as of today, the price of Ethereum is at $3350, and the digital asset is 3% up in its price.
The support levels for Ethereum fall in the range of $2900-3200 at the time of writing, and as for the resistance levels, these are kind of soar and the same for Ethereum as they have been for the last few days or a week. It seems that the resistance is set at $3700 starting from the asset’s current price in the open market.
If investors and traders continue to support the cryptocurrency and the new update already commenced to the Ethereum’s blockchain continue to adhere, then there is no way that the cryptocurrency is going to crumble and fall back to the support levels, it can tackle the resistance levels, and it could be another all-time high themed party for Ethereum.
Has Ethereum Outperformed Bitcoin in Performance?
According to the supported data, Ethereum has managed to outperform Bitcoin in every aspect by a factor of 57% over the last month or so and is now up to take down the new resistance levels. The market is currently tense, and even so, there is no news of it happening; the investors and the enthusiasts should always remain in check with the resistance levels and the corrections taking over the bullish run if it is currently stapled to a cryptocurrency.
So, even if things are looking pretty smooth for Ethereum at the moment, one should not exclude the idea of growing a pair of eyes on their back to check in with the changing atmosphere of the crypto market.