Ethereum price is holding up very well at the key psychological level of $2,530 amid a volatile Bitcoin price action. However, the ETH/BTC pair had its 2nd consecutive red day as ETH lost its value against Bitcoin.
In the last 24 hrs, KLAY, FLR, BLUR, SEI and CHZ are the only digital assets with double-digit gains among the top 100 coins. Injective Protocol (INJ) price also remained bullish and had gained 6% till press time.
SEI emerged as the leading smart contract asset as SEI price extended its weekly gain on Tuesday morning. At press time, the altcoin was up 1.62%. This bullish price action comes after a 15,87% surge yesterday.
The volume has fallen drastically after a massive surge in the trading volume last week due to the speculation around spot Bitcoin ETF. Nevertheless, the low time frame dip in Bitcoin price at the start of the week was still fully absorbed almost instantly. As a result, the pioneering cryptocurrency is changing hands at $42,709 at the time of writing.
Ethereum Price Prediction
ETH price outperformed BTC by 17% last week despite a double digit drop in the latter. This pointed toward a flow of capital from Bitcoin to Ethereum as the traders profited after the historic approval of spot ETF. Another reason behind this strength was the expectation of an ETH ETF approval by this summer.
ETH is trading sideways this week after briefly trading above $2,700 last week. The following chart shows how the price is struck within the $2,460-2,592 range. In case of a breakdown below this range, price might have another 10% drop from current levels.
Injective (INJ) Price Targets $43.3
Despite an 11% rise on the first trading day of the week, INJ price remains stuck within a specific range as mentioned in the following chart. The sideways chop is likely to continue, but the bullish target of $43.3 might be reached in the next few days. This will also mark a retest of the current range high.
BONK Price Drops For The 2nd Day
Last week’s correction in Bitcoin has also affected BONK price, which was showing a significant recovery from its monthly lows of $0.00000933. The following chart reveals how the Solana memecoin is currently facing resistance from the $0.00001742 level. Bulls must flip this level into strong support to aim for a significant upside.
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This news is republished from another source.
