Will Ethereum Get Back to Basics? - Kakiforex.com - Financial Market Media No. 1 in the World Will Ethereum Get Back to Basics? Will Ethereum Get Back to Basics?
InstaForex

May 27, 2021

Will Ethereum Get Back to Basics?

 Most cryptocurrencies are seen as signaling for a change in trend.


Ethereum with its latest project, will launch ‘Ethereum Scaler Arbitrum’ this week with developer support from Alchemy.


Read more about our launch and partnership here! Https: //t.co/k1FIAe9cft


- Arbitrum (@arbitrum) May 26, 2021


Examining the ETH/USDT price movement chart, it can be seen that it still failed to break the $ 3,000 level after jumping from the lowest level recorded around the price of $ 1,728.



If the price movement manages to pass the zone, the next level will test the SBR zone (support become resistance) around the price of $ 3,300 and then resume the uptrend.


Looking at the rise in the price of ETH, it looks like it is giving a benchmark to make a change and will test the all -time high (ATH) level that once reached $ 4,300.


On the other hand, if the decline continues, the price is likely to decline to the level of around $ 2,500 which is seen as a focus level to test before the expectation to make a rise again or continue to make a lower decline.


At the time of writing, Ethereum traded $ 2,770 making an increase of over 60% from the decline that occurred on May 23rd.