Ether (ETH), which powers the smart-contract-enabled Ethereum blockchain and is the world’s second-largest cryptocurrency in terms of market capitalization, is nearing a retest of a key long-term uptrend.
The ether price was last around $1,840, having seen significant volatility in the last three days in wake of dual lawsuits announced by the US Securities and Exchange Commission (SEC) against two of the world’s largest cryptocurrency exchanges, Binance and Coinbase.
For now, ETH continues to find solid support at its 100-Day Moving Average, which was last around $1,813, having now bounced from this support level three times in under one month
