Is it Beneficial to Invest in Ethereum in 2021?

Welcome to Extreme Investor Network, where we provide unique insight and analysis into the world of trading, the stock market, and all things Wall Street. Today, we’re taking a closer look at Ethereum and its potential for growth in the coming months.

The ETHE fund currently manages around $7 billion, which could impact Ether ETFs’ net flows in the near future. However, there are some positive developments on the horizon for Ethereum. One of its native projects, the USD Coin (USDC) stablecoin, is gaining traction. Circle, the company behind USDC, recently announced plans to launch a tap-to-pay feature on all Apple devices. This could potentially drive more adoption and usage of Ethereum in the coming months.

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In addition to these developments, Ethereum’s market outlook appears bullish due to macroeconomic factors. The potential interest rate cut by the U.S. Federal Reserve in September could further boost cryptocurrencies like Ether. Lower interest rates have historically been favorable for digital assets, especially in the wake of the pandemic.

Taking a closer look at Ethereum’s technical analysis, we see that Ether’s price is currently trading within a range defined by its 50-week and 200-week exponential moving averages. The 50-week EMA also aligns with the lower trendline of Ether’s multi-year ascending triangle pattern, providing strong support. This could help Ethereum withstand bearish pressure and potentially break above the 200-week EMA resistance in the future.

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Overall, Ethereum continues to show promise for investors and traders alike. Stay tuned to Extreme Investor Network for more updates and analysis on the latest market trends and opportunities.

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