• Mark Cuban is bullish on Ethereum! What Is the Future of the Ethereum Price?

  • BTC has begun a new uptrend and has broken through the USD 57,500 barrier. It is now worth more than USD 58,000 and is expected to rise further in the near future. Aside from that, the vast majority of major altcoins are gaining traction. ETH is up about 4% and has broken through the USD 3,600 barrier. Despite its gains, XRP remains below the USD 1.20 resistance level. On the upside, ADA is aiming for a break above the USD 2.20 resistance level.

    Ethereum Price Movement

    Ethereum has remained firmly supported above the $3,400 level. ETH has begun a new uptrend, similar to bitcoin, above the $3,500 resistance zone and the 100 hourly simple moving average.

    On the hourly chart of ETH/USD, a critical negative trend line with resistance above $3,500 was also breached. The currency pair is currently trading above the $3,550 psychological barrier. Ether’s price even surpassed the $3,600 resistance level.

    The price has reached a high near $3,656 and is currently consolidating gains. There is immediate upside resistance near $3,650. The next major resistance level is around $3,660, above which the price may resume its upward trend. The price could rise to $3,750 in the aforementioned scenario. Any further gains could pave the way for a near-term move towards the $4,000 mark.

    If ethereum fails to break through the $3,650 and $3,660 resistance levels, a new downward trend could begin. On the downside, $3,600 serves as a first level of support. The first significant support is forming near $3,550. If the price falls below the $3,550 and $3,535 support levels, it could fall even further. The next significant support level is $3,450.

    Mark Cuban is a believer in ETH!

    Mark Cuban, the billionaire, told that Ether, the second-largest cryptocurrency, has the most potential.

    “As an investment, I believe Ethereum has the most potential.”

    Cuban has been a long-time supporter of the blockchain due to Ethereum’s strong presence in the decentralized finance (Defi) and non-fungible token (NFT) sectors. Back in April, he drew parallels between the rise of smart contracts and the late-90s internet boom.

    Cuban also stated in a recent interview that people buy Dogecoin because it is “fun.” Despite his zealous advocacy, his prior DOGE holdings are minor.

    When it comes to Bitcoin, the “Shark Tank” star sees it as nothing more than a gold substitute.

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