ETH is Likely to Move Up to $2,500 to Catch Bitcoin
The Ethereum (ETH) rose 7.6% to $2199 per coin. A good result, but Bitcoin has done better with 10.5% since the beginning of December, rising by 10.5% to $41,580 per coin.
Takin a broader look we will find that Ethereum with its 45% up is far behind Bitcoin that added 56% since October 16. Such a gap is not seen justified. When the SEC would approve both applications from the BlackRock to create ETH and BTC spot ETFs both cryptocurrencies are likely to receive its portion of capital inflows according to their market share. The Ethereum chart also signals that this gap would be eliminated. The ETH has moved above $2000 per coin and retested this level. Moreover, it’s a half way up to the $2,500 resistance. This distance is exactly what is needed to be passed for both cryptocurrencies to be equalised in terms of the recent rally.
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