Crypto Daily – As ($BTC), ($SOL) and others have led the cryptocurrency fight-back, Ethereum (ETH) the number two cryptocurrency by market capitalization has seriously underperformed. However, now that $BTC has pulled back from its all-time high, $ETH has remained strong. Could this be a turning point?
A dismal time for $ETH bulls
Ethereum investors have been dismally watching from the sidelines for many months now, as Bitcoin has grabbed all the attention, ably assisted by Solana, the biggest layer 1 competitor to Ethereum.
Since the $ETH price surpassed $4,000 in early March, it has been mostly sideways and downwards since then, not only losing value against the US dollar, but also against both $BTC, $SOL, and many of the best-performing cryptocurrencies.
$ETH close to breakout against $USD
Source: TradingView
Could this be about to change? Against its dollar pair (), the $ETH price looks to be consolidating nicely above the $2,500 support….
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