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Where is the next big level for Ether after it recovers above $2000?

14 Apr, 2023

The push to new 2023 highs in Bitcoin this morning, is not an unaccompanied move. Other leading coins have made fresh progress too. For the purposes of this update that concerns Ethereum (ETHUSD). The second largest cryptocurrency by market cap (and popularity too) has lifted further above $2,000 today. In fact, it has risen above $2,100 for the first time this year. To see the last time Ether was above $2000, you have to look back to August 14 last year. Ether has lifted to as high as $2,129.40 this morning, but it has backed off a bit now. The next really big technical level for Ether is now at $2,403.24, should this recovery continue. That price point is 38.2% retracement of the decline from 4,866.40 to 880.70. Clearly it is not going to get there this side of the weekend, but certainly a potential price point to be aware of in the days and weeks that lie ahead. ETHUSD is currently trading at $2,110.30

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