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Ether spikes higher back above 2800

04 Feb, 2022

Yesterday Ethereum (ETHUSD) was struggling. The second largest cryptocurrency was on the drift lower for the whole session. However, after the US stock market closing bell the price got a boost from the moves in the US equity futures and it managed to rebound. It had also formed a mildly positive double bottom in place at around 2,578. The subsequent rebound into the wider 10pm GMT US close has been built upon so far today. In fact, it has recently spiked high, rising sharply above 2,700 and just now traded above 2,800. The move higher has also been helped by a corresponding gain in BTC, although it is not clear which is leading the other right now. The range seen so far today has been covered by 2,645 to 2,809. The fact that is has just stalled shy of high it set on Wednesday is one thing to note though. That high was at 2,812.42, but if it can surpass that then perhaps it might reclaim some more lost ground? ETHUSD is just now trading at 2,793

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