-Ether and Bitcoin reached their highest levels in 10 days on Sunday as the market showed some stable signs.
Cryptocurrency No. The rally came after the token dropped as low as $ 880.70 on June 18. It appears to have found support around the 200-week moving average, which currently sits near $ 1,200.
No. 9.20 Singapore time on Monday.
Ether is “front of the road after a fairly large short liquidation,” Fundstrat said of the crypto rally in a note on Friday. Data from CoinGlass shows there were about $ 60 million short -term liquidations on Ether on Friday, at least in five days.
Cryptocurrencies have suffered this year Federal Reserve rates rise and stubbornly high inflation. Ether is still down more than 60% this year, even after a rally from its lowest position.
The expiration of the main option on Friday has been viewed as a potential source of volatility. However, “short risk cleared surprisingly efficiently” for Ether amid “perhaps unexpected stability,” Ainsley To Genesis Trading, Gordon Grant and Noelle Acheson wrote in a note.
