“Ethereum (ETH) Can Reach This Magical Level!” : report
Ethereum (ETH) Cme futures contracts went live yesterday, February 8th. According to the Unfolded team, a total of 388 contracts worth approximately $34 million were processed on the first day of trading Ethereum derivatives. The Unfolded group shared this milestone via the following tweet:
Tesla’s purchase of Bitcoin signals bullishness for Ethereum
Prior to the launch of CME Ethereum futures, traders and investors alike were keen on ETH as Bitcoin experienced in 2017 after the launch of CME futures. He was nervous about whether or not she was going to enter the “bear cycle” as well.
However, Ethereum’s $1,480 reinforcement remained intact and the bullish surrounding ETH revived when Tesla announced that it had purchased $1.5 billion in Bitcoin. Activity has swept the crypto space as Ethereum hit an all-time high of $1,823.
Ethereum can reach the magic level of $ 2 thousand
It should be noted that the team at Upblock did some macro analysis on Ethereum and concluded that the digital asset may be ready for $2,000. The team shared their conclusion on Ethereum in a recent crypto market report:
“ETH is always reaching high tops, forcing new ATH levels to enter true parabolic price discovery. He spent a lot of time in the previous weeks and consolidated the price at a reasonable key level. But he did not survive a break.
According to the news in EthereumWorldNews, looking at technical indicators such as MKAST Algorithm, a bullish situation can be detected due to the recent rise. The MKAST Index scores 13/15, leaving enough room for another impulsive move. This could lead to the “magic” $2,000 level. “