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Ethereum rose to $1,300 on Monday.
Ethereum co-founder Buterin advises cryptocurrency enthusiasts to focus on technology rather than price.
ETH recovery could face a test at the 50-day moving average.
ethereum price (ETH/USD) temporarily tapped $1,300 on Monday as the bulls appeared to win the war at the $1,250 support. At press time, the cryptocurrency had fallen slightly, trading at $1,290. The price action could generate bullish interest as the crypto winter drags on. But how important is the price of Ethereum when talking about new crypto projects? Probably not that important, according to Ethereum co-founder Vitalik Buterin.
According to Buterin, investors should look less at Ethereum price factors and more at technology. Buterin’s comments come amid investors’ dissatisfaction with the price of his ETH and cryptocurrencies in general. One of the popular crypto investors who drew Buterin’s comments, “CoinMamba,” hinted that he was “a bit tired.” The investor hinted that he would like to try something else.
Any crypto native will understand and empathize with the plight of “CoinMamba”. All-time high, he would be worth 72% less to hold if he bought Ethereum for $4,800. Even worse, if you bought the Ethereum plunge in hopes of a quick recovery, there is still hope.
Apparently Cryptocurrency It was not invented primarily for speculation. That is the message that Buterin wanted to convey. You, too, should see the big picture. The good news is that bad days don’t last forever and he can make big returns on ETH when the market recovers. But does Monday’s price action bode well for what’s to come?
ETH has recovered above the $1,250 support and the 20-day moving average. Judging by its historical price action, the token has risen each time it has recovered above the 20-day moving average. The MACD indicator is below the neutral zone but still showing an improvement in momentum.
The latest recovery is positive for Ethereum. However, the cryptocurrency is trading below its 50-day moving average. ETH needs to break the barrier if further rise is confirmed.examination buy ethereum On the recovery above the important moving averages. The next level is around $1,450.
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