Ethereum (ETH) prices have hit their highest level since June 10, reaching $3,682 during early trading in Asia on Thursday, after rising 18% over the previous week. This comes as Bitcoin has declined by 2% over the same period. Ethereum analyst Rekt Capital has said that Ethereum is likely to take the lead as Bitcoin’s range between $91,000 and $100,000 may be “a recipe” for this.
In order for Ethereum to break out from previous highs in June, it would need a weekly close above $3,650, which would enable it to target resistance at $4,000 before potentially reaching $4,500. Ethereum’s upward momentum may be driven by interest from institutional investors, as spot Ether ETFs in the US have seen large inflows recently.
BlackRock’s ETHA fund led the pack with $55.6 million inflows, followed by Fidelity’s FETH with $38 million and the Grayscale mini Ethereum Trust (ETH) with $37.3 million.
Source
<p>The post Ethereum Breaks Away from Bitcoin: Cryptos Soar as ETH Hits Record Highs first appeared on CoinBuzzFeed.</p>
