After a strong rise in the value of Ethereum (ETH) above the $ 1,200 zone, the price continued to rise above the major resistance levels until it saw the price above the resistance level of $ 1,280 while overcoming Bitcoin (BTC) which is in the consolidation phase.
Now the price of ETH is seen to have jumped more than 10% and traded above the simple moving average (SMA) indicator level of 100 hours.
If Ether manages to cross the $ 1,350 level, it is not impossible for this asset to continue to soar above the all-time record high (ATH) of $ 1,448 since 2018, making $ 1,500 a major resistance.
Meanwhile, BTC is still in the price range of $ 34,955 and $ 37,850 since last weekend even though investors are still buying, it seems that it is still pushing the price of this currency to jump higher.
However, Wirex Head of Trade Yves Renno described consolidation above the $ 35,500 level as still showing a positive trend in the market.
Investors also need to be prepared for prolonged periods of volatility with moderate positive trends over the next few weeks or months based on the derivatives market conditions.
To date, the crypto sector has been overshadowed by positive developments beginning with US President Joe Biden nominating Gary Gensler, a crypto expert as chairman of the Securities and Exchange Commission (SEC).
At the same time former Canadian prime minister Stephen Harper is confident BTC will roll out the US dollar in the future.
At the time of writing, BTC is trading at $ 36,711 and ETH is up 11.38% to $ 1,338.
