Ethereum has reclaimed the No. 2 spot for market capitalization in cryptocurrenices after being supplanted by Ripple's XRP earlier in the month.
Ethereum more than tripled since its Nov. 30 low of $401.24, and finally peaked on Jan. 13 at $1,432.88. It posted its all-time closing high that same day at $1,396.42.
Similar to bitcoin, sellers ravished Ethereum on Wednesday taking it down to $780.92 before rebounding to close at $1,014.25. That low coincides with its Jan. 2 low of $772.35 and is just above two other highs made in that area on Dec. 31 ($710.12) and Jan. 1 ($742.00).
On Thursday, it climbed into the $1,100 handle, peaking at $1130.31, which was just above Wednesday's high of $1,090.23. That area in now setting up as potential triple-top as Ethereum has peaked just under that pair of highs as of 1:30 p.m. EST in Friday's session.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.