Ethereum [ETH] the bear dominates with an increase of 6.5% before the rigid gallows of Constantinople

Ethereum [ETH] he has not been a stranger to the bear realms in the last month, dropping below one of his most important $ 100 support lines recently and not being able to recover. However, with the feeling of investor confidence, the currency has gained its value of over 6.5% in the last 24 hours and, at least for the time being, has managed to shake off the bear.

Speaking of the news on the fork of Constantinople of the network coming in January next year, the currency has had a race fueled by a positive sentiment, reaching even 10% at the peak of its rise. The currency itself had a difficult week, as it began trading at $ 111, observing a strong hike of up to $ 120. It traded around that mark for a day before it began its decline.

Ether began to slip to $ 117 after a fall, and continued trading there before another decline from December 3 to $ 113, followed by another decline to $ 108 on the same day. Continuing to recover from consecutive bear attacks, the currency recovered to $ 111 and slowly refused to fall below it to trade at $ 108 on 5 December.

One of its highly held support lines at the $ 100 threshold was tested on December 6, with Ether recovering to trade at around $ 103 on 6 December. On the same day, the coin fell below $ 100. The price stopped at about $ 96 on December 6, with the currency watching a catastrophic fall the next day. It dropped well below $ 90 to an annual minimum of $ 83.

He attempted a recovery at $ 87 but failed, and he tested the $ 83 level again before making an abrupt hike to $ 95 and trading there.

A further upward momentum has formed while the currency is trading at $ 92 currently, with a market capitalization of $ 9.5 billion and a trading volume of $ 2.2 billion. The currency markets include the OEX market with ETH / BTC trading pair, which has more than 6.8% of trading volume $ 159 million, EXX with ETH / USDT pair with 4.7% of trading volume with a volume of $ 111 million and OKEx with ETH / USDT Pair with 4.5% of the trading volume of $ 105 million.

Follow us on Telegram | chirping | Facebook

Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest in the future of blockchain and cryptocurrency technology. At the moment it does not have any cryptocurrency.