With the leading cryptocurrency Bitcoin rising to the level of $ 43 thousand earlier today, the crypto money market turned its head to the north. With this movement, the price of Ethereum (ETH) also rose to $ 3,000. However, the overall market cap of Ethereum (ETH) skyrocketed, outpacing some of the world's largest financial institutions such as Bank of America (BoA) and Mastercard.
According to the information obtained by CompaniesMarketCap; While Ethereum's market value is $366.13 billion at the time of writing, Bank of America (BoA) has a market value of $347.51 billion. At the same time, Mastercard has a market capitalization of $337.12 billion.
Recently, Ethereum's market cap has been soaring at $331 billion, an increase of 10.47 percent. Ethereum (ETH) has previously managed to outpace payments giant Visa and banking giant JPMorgan in terms of market cap.
Can Ethereum (ETH) Stay Above $3000?
With the breaking of the falling trend, Ethereum started to trade in the $ 3000 band again. An ascending trend angle of 45 may suggest that the upward trend is healthy. If the daily close is above $3000, the price may continue to rise. It can be observed that the price is currently trying to turn the $3039 level to support.
Against the downside price movements, the first support is located at $2968. With the bears continuing their selling pressures, it is possible for the price to pull back to $2837. The loss of this level may result in a pullback to the $2773-2750 support range, which may prevent falling below the downtrend. With the deepening of the decline, the price can be expected to retest the $2512-2490 range. The increase in buying in the current region may result in the ETH price rising as high as $3149. With the price closing a 2-hour candle above this region, it may continue to rise towards an upper resistance. The fact that this level becomes support and the buying pressures of the bulls increase may cause the price to trade around $3261 again.