$Ethereum is holding the $2,500 handle, but it is not moving with anything like the conviction $Bitcoin showed yesterday. ETH trades at $2,517.8, up marginally against a previous close of $2,507.6, after tagging $2,546.2 intraday and immediately giving the move back. The current 3 hour candle is actually down 0.35%.
ETH/USD chartThat failed spike is the whole story, and it is the fourth time it has happened in two weeks.
Why Is the Ethereum Price Holding Above $2,500?
Ether is riding the same wave Bitcoin caught on Thursday. Fed Governor Christopher Waller's remarks pushed traders to price in a hold rather than a hike at the September meeting, the dollar sold off, yields eased, and every liquidity sensitive asset caught a bid. ETH went along for the ride from the $2,400 area back over $2,500.
Underneath that, the structural bid is real. Ether gained 32.5% through August while s...
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